Real Estate Purchases and Sales

When buying or selling property in North Vancouver, conveyancing plays a crucial role in ensuring the legal transfer of ownership. Whether you’re a first-time buyer or a seasoned investor, understanding the basics of conveyancing can help you navigate the process with confidence. In this guide, we’ll break down the key steps involved in conveyancing and explain how a notary public can assist you…

Recent amendments to British Columbia’s Property Law Act and Land Title Act are breaking down barriers for First Nations in land registration. Effective May 21, 2024, these changes allow First Nations to register land directly in their own names—just like individuals and corporations—without needing proxies like development corporations.Key ChangesFirst Nations can now acquire, hold, and…

In September 2024, the Canadian government introduced major mortgage reforms to help more Canadians, especially Millennials and Gen Z, achieve homeownership. These changes, effective December 15, 2024, aim to lower mortgage costs and increase access to home loans.Key Changes:Increased Insured Mortgage Cap: The limit for insured mortgages will rise from $1 million to $1.5 million, allowin…

As a homeowner in British Columbia, you’re likely familiar with property taxes. But did you know there’s a program that can help you reduce your bill significantly? The B.C. homeowner grant offers valuable property tax relief for qualified residents.Here’s what you need to know about the homeowner grant:Eligibility: The grant is available to homeowners who use their property as a princip…

British Columbia recently implemented changes to the Residential Tenancy Act, impacting notice periods for tenants when a property is sold. While this aims to protect renters, it also presents unforeseen challenges for homebuyers, particularly those relying on mortgage financing. Here’s a breakdown of the new rules and how they affect both buyers and sellers:Changes to Notice Periods:Eff…

Congratulations! You’ve paid off your mortgage and your home is almost completely yours. But there’s one more step: discharging your mortgage. This legal process removes the lender’s claim on your property, giving you full ownership.This blog post, based on information from the Financial Consumer Agency of Canada (FCAC), will guide you through everything you need to know about discharging you…

The BC NDP announced new legislation on April 2nd, 2024, aimed at increasing tenant protections in the province. However, the LandlordBC, a group representing landlords in British Columbia, is critical of the announcement, saying it lacks measures to support landlords and could worsen the housing crisis in the long term.The new measures include:Prohibiting landlords from charging extra r…

In recent times, the real estate industry has seen a significant rise in title fraud, affecting everyone from homeowners to industry professionals. With fraudsters employing increasingly sophisticated techniques, it’s become crucial for both buyers and sellers to be vigilant. Stewart Title has been at the forefront of combating this issue by educating the industry on detection and prevention stra…

Interest rates have been the captain of the Canadian housing market for the past few years, steering it through choppy waters. As we set sail into 2024, the question remains: will the waves continue to rise, or will we find calmer waters ahead?Canada’s economy defied expectations with robust growth at the end of 2023. This could mean the Bank of Canada (BoC) holds off on rate cuts in the imme…