Important Update for Home Buyers: Changes in Land Title Registration Costs
Posted by Liv Real Estate on
Are you planning to buy property in Alberta? Starting October 20, 2024, be prepared for a significant shift in land title registration costs due to the introduction of a new Land Titles Registration Levy.
What Is Changing?
The province of Alberta is introducing a new Land Titles Registration Levy, announced in Budget 2024, to replace the current Variable Fees for transferring land and registering mortgages. Under the new structure, buyers will face a flat levy of $5.00 per $5,000 of property value AND $5.00 per $5,000 of mortgage value, along with a $50 flat fee for each, affecting land transfers, mortgage registrations, and certain caveats.
How will this affect you as a buyer?
Previously, land transfers incurred a fee of $50 plus $2.00 for…
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