We are open for business to do conveyancing! We have been offering it as a value added service to our clients, however we are able to take on some other transfers on a first come, first served basis.
In light of our new area of business, I thought I would make a quick post on something that is so very simple, but if not done – can cause some very big problems! The number of stratas are growing in Kelowna and we are finding lots of conveyances of strata property. When we do a conveyance of strata property, there is a few additional steps required, the main one is obtaining a Form B signed by the strata management. This is the form that states if there are any strata fees in arrears / parking stalls / big budget items planned for etc.
Now, while we are good, we are not mind readers – so unless the seller discloses the strata management in their property disclosure statement, the only way we can find out who to contact to complete the Form B is by doing a search of the B.C. Land Titles. If a strata management isn’t registered there … well, we have to take the seller’s word that there is no official management company and take their word on if strata fees are owing or not. So, if a seller does not disclose outstanding fees, the management will have to try and get that money back from the seller.
If you are a strata owner and part of the strata board, please make sure that the management company is registered with B.C. Land Titles. There is a nominal cost, but in the long run, it is way cheaper than paying lawyers if things go sideways.
As always feel free to contact us with any questions you may have.
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