Real Estate lawyers in Kelowna

BC property transfer tax is 1% of the fair market value up to $200,000, 2% from $200,000 to $2 million, and 3% above $2 million. A further 2% applies to the residential value above $3 million. The tax return is filed, and the tax paid, when the transfer is registered at the Land Title Office.

Yes. Under the first time home buyers' program, the first $500,000 is exempt when the home's fair market value is $835,000 or less, and there is a partial exemption for homes worth up to $860,000. You must be a Canadian citizen or permanent resident, meet the BC residency test, never have owned a principal residence anywhere in the world, and move in within 92 days.

Foreign entities pay an additional 20% property transfer tax on residential property in Metro Vancouver, the Capital Regional District (which includes Victoria), the Regional District of Central Okanagan (which includes Kelowna), and the Fraser Valley and Nanaimo regional districts.

Yes, for a short time. The Home Buyer Rescission Period gives buyers of residential property the right to rescind up to three business days after the offer is accepted. A buyer who rescinds pays the seller a fee of 0.25% of the price.

The Residential Tenancy Branch deals with disputes between residential landlords and tenants. Disputes over ownership go to the courts.

To practise law in British Columbia a lawyer must be a member of the Law Society of British Columbia. You can look up any lawyer in the Law Society's public Lawyer Directory, which shows their practising status and any discipline history. Each lawyer on these pages was checked in that directory before being listed, but people move firms, so check again before you hire. Complaints about a lawyer go to the Law Society.