FINTRAC stands for Financial Transactions and Reports Analysis Centre of Canada. This centre helps to combat money laundering, terrorist activity financing and threats to the security of Canada, while ensuring the protection of personal information under its control. FINTRAC is subject to the Privacy Act, which strictly regulates how federal institutions can use and disclose personal information collected about individuals.

Notaries Public in British Columbia have the following obligations to FINTRAC. 

• verify the identity of persons and entities for certain activities and transactions, and carry out other customer due diligence activities
• report suspicious transactions
• keep records related to transactions and client identification

These obligations become required when engaged in any of the following activities on behalf of a person or entity, or give instructions on behalf of a person or entity in respect of:

• Receiving or paying funds or virtual currency (other than those received or paid as professional fees, disbursements, expenses or bail);
• Purchasing or selling securities, real property or immovables, or business assets or entities; or
• Transferring funds, virtual currency or securities by any means.

In British Columbia, when you register an interest in a property, a property transfer tax return must be filed. Property transfers are completed by a legal professional and they submit your return and payment to the Land Title Office. Your SIN is required to establish your citizenship status.

Property Transfer Tax is aland registrationtax. It must be paid when an application for a taxable transaction is made at any Land Title Office in British Columbia to register changes to a certificate of title. Property Transfer Tax is payable on the fair market value of the property being transferred and is based on the following calculation:

The first $200,000 FMV of property taxed at: 1%

The FMV from $200,000 to $2,000,000 is taxed at: 2%

The FMV from $2,000,000 to $3,000,000 is taxed at: 3%

The FMV over $3,000,000 is taxed at: 5%

While it is not uncommon for a Notary to act for both the Buyer and the Seller in a straightforward transaction, he or she must make a disclosure to all parties of that dual role and, in the rare event a conflict in the Notary’s duty to either party arises, will remove himself or herself and not act for either party. In all cases, the parties receive legal advice and understand the nature and effect of the transaction and the documents before signing.

There are certain types of transactions where a Notary is not permitted to act for both parties, such as the sale of a business or when the Seller is financing a portion of the purchase price. If you have questions about your transaction, please contact my office for advice.

Signing the Contract is the first step in the conveyance process. Once all subjects have been removed and the Contract is firm and binding, your realtor (and your banker or mortgage broker if you are getting a mortgage) will ask you to choose a legal representative to act for you. Once you have named Rothwell Notary Corporation, a copy of the Contract and instructions for the preparation of the mortgage security documents (if you are financing the purchase) will be sent to our office.

Signing the Mortgage Commitment document with your lender is the first step in the process. That document is the legal contract you have made with the lender to repay the debt. The next step is to secure the debt by registering a charge against the property at the Land Title and Survey Authority of British Columbia. Your lender will not release the money to you, or activate your line of credit, until evidence that the debt is secured has been provided.

Generally it is best if we have a least 2 weeks’ lead time to complete your transaction once subjects are removed on your contract. We will be able to provide you with much better service if we have adequate notice. A lot of information must be gathered and many documents must be drafted and signed by all of the parties involved before a transaction can be completed.

Completion Date is the date on which the Buyer becomes the registered owner of the Property and the Seller receives the sale proceeds. This is also the date on which the Buyer becomes responsible to insure the Property. 

Possession Date is the date on which the Seller must give possession of the Property to the Buyer. It is the day you get the keys to your new home! 

Adjustment Date is the date on which the Buyer becomes responsible for items to be adjusted between the parties, such as property taxes and strata fees. These three dates do not have to be the same. In fact, Possession Date and Adjustment Date are often a day or more after Completion Date on a Contract.

Two or more people can own property as Joint Tenants or as Tenants in Common. Your Notary will ask you to choose one of those two forms of co-ownership when you are transferring a property into your names. So what is the difference?

In a joint tenancy, each co-owner must own an equal interest (1/2 each in the case of two joint tenant owners, 1/3 each in the case of 3 joint tenant owners, etc.) in the property. The essential feature of joint tenancy is the right of survivorship. It means that when one joint tenant dies, his or her interest in the property automatically ceases to exist at the instant of his death and vests unto the other joint tenant(s). Therefore, joint tenants cannot leave their interests to anyone in their Wills. This type of ownership is the most common for married or common law couples.

In a tenancy in common, each co-owner may have unequal interests (i.e., 30/100 or 70/100). As a tenant in common, there is no right of survivorship and therefore your interest in the property does not transfer to the other co-owner(s) upon your death. Rather, it is distributed according to your Will. Therefore it is very important to have your estate plan in order. This type of ownership is the most common with business or investment partners.

No. Only the legal, registered owner of a property can consent to the registration of a charge against it to secure a debt. For example, if you are married but your house is registered in your name only, your spouse cannot sign as a borrower on a mortgage registered against that property. An option in this scenario would be for the non-owning spouse to sign the mortgage as a guarantor (also known as a “co-signer”). This means that he or she is responsible for re-paying the debt if the borrower defaults on the mortgage payments.

The First Time Home Buyers’ Program is designed to help British Columbians purchase their first home. Under the program, eligible purchasers can claim an exemption from Property Transfer Tax if the fair market value of the home is less than the threshold amount.

The purpose of the home owner grant is to help reduce the amount of residential property tax British Columbians pay. The home owner grant applies to taxes paid by British Columbians to their municipality or to the Surveyor of Taxes for rural areas. The grant is available to Canadian citizens or holder of permanent residency status in Canada, who live in British Columbia, and he or she must occupy the home as his/her principal residence.

If the person making the affidavit or statutory declaration does not understand the English language, the Notary may only proceed with the assistance of an interpreter or if they themselves are fluent in the same language as the deponent, affiant, or declarant. 

If by interpreter, the interpreter must be sworn (or affirmed) that he/she well understands (the language of the person making the statement), that he/she will well and truly interpret the contents of this affidavit/statutory declaration to the deponent and that he/she will well and truly interpret to the deponent the oath/affirmation/solemn declaration to be administered. The interpreter would then interpret the contents of the document, following which the notary would administer the oath (affirmation/declaration) in English to the person making the statement. The interpreter would repeat the oath (affirmation/declaration) to the person making the statement in that person’s language and translate the response to the question in English.

If the person making the affidavit or statutory declaration is visually impaired or illiterate, the document must be read to them and they must be asked whether they understand what was read. The oath, affirmation or solemn declaration may only be administered if the Notary is satisfied that they understand what was read to them.

Disbursements are classed as a purchase we facilitate that our client then receives. Disbursements are a reimbursement for out-of-pocket expenses. For example LTSA fees, title insurance, strata forms, courier charges. These are not hidden fees.

While notaries and lawyers both deal with legal matters, notaries do not represent clients in court and do not get involved in litigation. Our work as notaries involve acting for and providing LEGAL ADVICE related to non-contentious matters in which all parties involved have already reached an agreement.

The scope of practice which notaries and lawyers overlap is exactly the same. For example, there is no difference if a notary or lawyer handles your real estate sale. Both will execute the transaction the same. Notaries are more likely to specialize in the area of law which they practice, whereas lawyers are more likely to be generalists.

To prepare for making a will you should make a list of the following:

• Your legal name (any aliases) and address
• Full name and address of whom you wish to appoint as your executor
• Full name and address of whom you wish to appoint as an alternate executor (should your first choice be unable to act)
• Full name and address of whom you wish to appoint as your guardian for any minor children you have
• A brief description of your assets
• A detailed description of any items or specific sums of money you wish to leave to beneficiaries
• How you want to distribute the balance of your estate (or the residue of your estate) after items or money has been given up
• Full names and addresses of all beneficiaries
• If a beneficiary should predecease you, who should receive his or her share
• If you have children under the age of 19, the name and address of the person(s) you wish to designate as guardian
• Information on any burial or cremation arrangements you may have

In order to test that you have requisite capacity to have a Will drafted we need to ascertain that you know what assets you have and their approximate worth. Additionally, we need to investigate if there are or could be any legal issues present that would need to be addressed. 

There are many reasons you may want to have a Power of Attorney in place, such as:

• If you are physically unable to look after your own affairs
• If you are going to be out of the country and you need someone to look after your affairs while you are away
• If you suddenly become mentally incapable due to illness, disease or accident
• If you work in an environment where accidents frequently occur or you engage in dangerous recreational hobbies or sports

You might think that only elderly people need to have a Power of Attorney. However, it is just as important for younger people to put incapacity planning into place in case of events such as a brain injury due to motor vehicle or recreational accident or a stroke. If a tragedy such as this strikes you and you do not have an EPOA in place, the courts will have to decide who can make legal and financial decisions on your behalf. Nobody, not even your spouse, has legal authority over your financial or legal affairs. Your spouse would have to apply to the court to become the Committee of your Estate. This is a lengthy process which costs thousands of dollars.

Yes, we are able to come to you. There is an additional fee. This fee depends on travel time.

The more information you can provide the better. At a minimum, full legal names as they appear on one’s legal identification (include all variations of name), and current addresses.

Absolutely! It is our obligation to ensure all client information is secure and confidential. We take all personal information in our custody and control will be collected, used and disclosed in accordance with the Freedom of Information and Protection of Privacy Act (FIPPA), the Notaries Act, the Society of Notaries Public of British Columbia Rules and other applicable legislation.

All employees are responsible for securing and protecting personal information in our possession.

If you have another Notary or Lawyer representing you on your mortgage or real estate documents and you need them executed and your identification verified we act as their agent to do so. This is more akin to a notarization.

If we are asked to ‘act’ or ‘represent’ you this means we are undertaking the full liability and responsibility of the file and must report to your lender and various other governmental and non- governmental entities. Additionally, this usually involves handling trust monies which increases our exposure and reporting requirements.

A will does not need to be signed in the presence of either a Notary or Lawyer to be valid in British Columbia. Our Notaries will not sign wills which they do not draft. This is because it is presumed that all professional standards of care are being met when they sign a document. Simply put we cannot meet that standard of care when witnessing a Will we have not drafted.

Acting for family law matters is not within the scope that Notaries are provided within the Notaries Act.

It is the Notary’s duty to:

• Positively identify the deponent/affiant/declarant/signer;
• Ensure the individual signing has a complete understanding of the contents and purpose of the document they are signing; and, 
• The document was signed willingly (no coercion or undue influence)

It is your responsibility to come prepared to all appointments. This includes having appropriate identifications, reading and completing (but not signing) the document you are presenting to us, coming alone if necessary, and not being under the influence of alcohol or hallucinogens.

FINTRAC stands for Financial Transactions and Reports Analysis Centre of Canada. This centre helps to combat money laundering, terrorist activity financing and threats to the security of Canada, while ensuring the protection of personal information under its control. FINTRAC is subject to the Privacy Act, which strictly regulates how federal institutions can use and disclose personal information collected about individuals.

Notaries Public in British Columbia have the following obligations to FINTRAC. 

• verify the identity of persons and entities for certain activities and transactions, and carry out other customer due diligence activities
• report suspicious transactions
• keep records related to transactions and client identification

These obligations become required when engaged in any of the following activities on behalf of a person or entity, or give instructions on behalf of a person or entity in respect of:

• Receiving or paying funds or virtual currency (other than those received or paid as professional fees, disbursements, expenses or bail);
• Purchasing or selling securities, real property or immovables, or business assets or entities; or
• Transferring funds, virtual currency or securities by any means.

In British Columbia, when you register an interest in a property, a property transfer tax return must be filed. Property transfers are completed by a legal professional and they submit your return and payment to the Land Title Office. Your SIN is required to establish your citizenship status.

Property Transfer Tax is aland registrationtax. It must be paid when an application for a taxable transaction is made at any Land Title Office in British Columbia to register changes to a certificate of title. Property Transfer Tax is payable on the fair market value of the property being transferred and is based on the following calculation:

The first $200,000 FMV of property taxed at: 1%

The FMV from $200,000 to $2,000,000 is taxed at: 2%

The FMV from $2,000,000 to $3,000,000 is taxed at: 3%

The FMV over $3,000,000 is taxed at: 5%

While it is not uncommon for a Notary to act for both the Buyer and the Seller in a straightforward transaction, he or she must make a disclosure to all parties of that dual role and, in the rare event a conflict in the Notary’s duty to either party arises, will remove himself or herself and not act for either party. In all cases, the parties receive legal advice and understand the nature and effect of the transaction and the documents before signing.

There are certain types of transactions where a Notary is not permitted to act for both parties, such as the sale of a business or when the Seller is financing a portion of the purchase price. If you have questions about your transaction, please contact my office for advice.

Signing the Contract is the first step in the conveyance process. Once all subjects have been removed and the Contract is firm and binding, your realtor (and your banker or mortgage broker if you are getting a mortgage) will ask you to choose a legal representative to act for you. Once you have named Rothwell Notary Corporation, a copy of the Contract and instructions for the preparation of the mortgage security documents (if you are financing the purchase) will be sent to our office.

Signing the Mortgage Commitment document with your lender is the first step in the process. That document is the legal contract you have made with the lender to repay the debt. The next step is to secure the debt by registering a charge against the property at the Land Title and Survey Authority of British Columbia. Your lender will not release the money to you, or activate your line of credit, until evidence that the debt is secured has been provided.

Generally it is best if we have a least 2 weeks’ lead time to complete your transaction once subjects are removed on your contract. We will be able to provide you with much better service if we have adequate notice. A lot of information must be gathered and many documents must be drafted and signed by all of the parties involved before a transaction can be completed.

Completion Date is the date on which the Buyer becomes the registered owner of the Property and the Seller receives the sale proceeds. This is also the date on which the Buyer becomes responsible to insure the Property. 

Possession Date is the date on which the Seller must give possession of the Property to the Buyer. It is the day you get the keys to your new home! 

Adjustment Date is the date on which the Buyer becomes responsible for items to be adjusted between the parties, such as property taxes and strata fees. These three dates do not have to be the same. In fact, Possession Date and Adjustment Date are often a day or more after Completion Date on a Contract.

Two or more people can own property as Joint Tenants or as Tenants in Common. Your Notary will ask you to choose one of those two forms of co-ownership when you are transferring a property into your names. So what is the difference?

In a joint tenancy, each co-owner must own an equal interest (1/2 each in the case of two joint tenant owners, 1/3 each in the case of 3 joint tenant owners, etc.) in the property. The essential feature of joint tenancy is the right of survivorship. It means that when one joint tenant dies, his or her interest in the property automatically ceases to exist at the instant of his death and vests unto the other joint tenant(s). Therefore, joint tenants cannot leave their interests to anyone in their Wills. This type of ownership is the most common for married or common law couples.

In a tenancy in common, each co-owner may have unequal interests (i.e., 30/100 or 70/100). As a tenant in common, there is no right of survivorship and therefore your interest in the property does not transfer to the other co-owner(s) upon your death. Rather, it is distributed according to your Will. Therefore it is very important to have your estate plan in order. This type of ownership is the most common with business or investment partners.

No. Only the legal, registered owner of a property can consent to the registration of a charge against it to secure a debt. For example, if you are married but your house is registered in your name only, your spouse cannot sign as a borrower on a mortgage registered against that property. An option in this scenario would be for the non-owning spouse to sign the mortgage as a guarantor (also known as a “co-signer”). This means that he or she is responsible for re-paying the debt if the borrower defaults on the mortgage payments.

The First Time Home Buyers’ Program is designed to help British Columbians purchase their first home. Under the program, eligible purchasers can claim an exemption from Property Transfer Tax if the fair market value of the home is less than the threshold amount.

The purpose of the home owner grant is to help reduce the amount of residential property tax British Columbians pay. The home owner grant applies to taxes paid by British Columbians to their municipality or to the Surveyor of Taxes for rural areas. The grant is available to Canadian citizens or holder of permanent residency status in Canada, who live in British Columbia, and he or she must occupy the home as his/her principal residence.

If the person making the affidavit or statutory declaration does not understand the English language, the Notary may only proceed with the assistance of an interpreter or if they themselves are fluent in the same language as the deponent, affiant, or declarant. 

If by interpreter, the interpreter must be sworn (or affirmed) that he/she well understands (the language of the person making the statement), that he/she will well and truly interpret the contents of this affidavit/statutory declaration to the deponent and that he/she will well and truly interpret to the deponent the oath/affirmation/solemn declaration to be administered. The interpreter would then interpret the contents of the document, following which the notary would administer the oath (affirmation/declaration) in English to the person making the statement. The interpreter would repeat the oath (affirmation/declaration) to the person making the statement in that person’s language and translate the response to the question in English.

If the person making the affidavit or statutory declaration is visually impaired or illiterate, the document must be read to them and they must be asked whether they understand what was read. The oath, affirmation or solemn declaration may only be administered if the Notary is satisfied that they understand what was read to them.

Disbursements are classed as a purchase we facilitate that our client then receives. Disbursements are a reimbursement for out-of-pocket expenses. For example LTSA fees, title insurance, strata forms, courier charges. These are not hidden fees.

While notaries and lawyers both deal with legal matters, notaries do not represent clients in court and do not get involved in litigation. Our work as notaries involve acting for and providing LEGAL ADVICE related to non-contentious matters in which all parties involved have already reached an agreement.

The scope of practice which notaries and lawyers overlap is exactly the same. For example, there is no difference if a notary or lawyer handles your real estate sale. Both will execute the transaction the same. Notaries are more likely to specialize in the area of law which they practice, whereas lawyers are more likely to be generalists.

To prepare for making a will you should make a list of the following:

• Your legal name (any aliases) and address
• Full name and address of whom you wish to appoint as your executor
• Full name and address of whom you wish to appoint as an alternate executor (should your first choice be unable to act)
• Full name and address of whom you wish to appoint as your guardian for any minor children you have
• A brief description of your assets
• A detailed description of any items or specific sums of money you wish to leave to beneficiaries
• How you want to distribute the balance of your estate (or the residue of your estate) after items or money has been given up
• Full names and addresses of all beneficiaries
• If a beneficiary should predecease you, who should receive his or her share
• If you have children under the age of 19, the name and address of the person(s) you wish to designate as guardian
• Information on any burial or cremation arrangements you may have

In order to test that you have requisite capacity to have a Will drafted we need to ascertain that you know what assets you have and their approximate worth. Additionally, we need to investigate if there are or could be any legal issues present that would need to be addressed. 

There are many reasons you may want to have a Power of Attorney in place, such as:

• If you are physically unable to look after your own affairs
• If you are going to be out of the country and you need someone to look after your affairs while you are away
• If you suddenly become mentally incapable due to illness, disease or accident
• If you work in an environment where accidents frequently occur or you engage in dangerous recreational hobbies or sports

You might think that only elderly people need to have a Power of Attorney. However, it is just as important for younger people to put incapacity planning into place in case of events such as a brain injury due to motor vehicle or recreational accident or a stroke. If a tragedy such as this strikes you and you do not have an EPOA in place, the courts will have to decide who can make legal and financial decisions on your behalf. Nobody, not even your spouse, has legal authority over your financial or legal affairs. Your spouse would have to apply to the court to become the Committee of your Estate. This is a lengthy process which costs thousands of dollars.

Yes, we are able to come to you. There is an additional fee. This fee depends on travel time.

The more information you can provide the better. At a minimum, full legal names as they appear on one’s legal identification (include all variations of name), and current addresses.

Absolutely! It is our obligation to ensure all client information is secure and confidential. We take all personal information in our custody and control will be collected, used and disclosed in accordance with the Freedom of Information and Protection of Privacy Act (FIPPA), the Notaries Act, the Society of Notaries Public of British Columbia Rules and other applicable legislation.

All employees are responsible for securing and protecting personal information in our possession.

If you have another Notary or Lawyer representing you on your mortgage or real estate documents and you need them executed and your identification verified we act as their agent to do so. This is more akin to a notarization.

If we are asked to ‘act’ or ‘represent’ you this means we are undertaking the full liability and responsibility of the file and must report to your lender and various other governmental and non- governmental entities. Additionally, this usually involves handling trust monies which increases our exposure and reporting requirements.

A will does not need to be signed in the presence of either a Notary or Lawyer to be valid in British Columbia. Our Notaries will not sign wills which they do not draft. This is because it is presumed that all professional standards of care are being met when they sign a document. Simply put we cannot meet that standard of care when witnessing a Will we have not drafted.

Acting for family law matters is not within the scope that Notaries are provided within the Notaries Act.

It is the Notary’s duty to:

• Positively identify the deponent/affiant/declarant/signer;
• Ensure the individual signing has a complete understanding of the contents and purpose of the document they are signing; and, 
• The document was signed willingly (no coercion or undue influence)

It is your responsibility to come prepared to all appointments. This includes having appropriate identifications, reading and completing (but not signing) the document you are presenting to us, coming alone if necessary, and not being under the influence of alcohol or hallucinogens.