IMPORTANT DEVELOPMENT IN REAL ESTATE:

Alberta Land TItles has announced that effective October 20, 2024 the charge for registering a transfer of title will increase from $2.00 per $5,000 of value to $5.00 per $5,000.00 of value. Similarly, the charge for registering mortgages and other caveats and charges on the land will increase to $5.00 per $5,000 in value. Thus, the land title charges will more than double in one increase.

For example, the purchase and mortgage of a $300,000 home currently results in $120.00 charge to transfer title for the purchaser and $105.00 to register the mortgage for total Land Titles charges of $225.00. That same transaction, after October 20, will reulst in total Land Title charges of $600.00. While this is a very significant increase in cost, we must keep in mind that compared to the land transfer taxes paid by our neighbours in BC and Saskatchewan, indeed the rest of Canada, our Land Title charges remain a very, very good deal.