When you are purchasing property in British Columbia there is an exemption for property transfer tax for first time home buyers’. In order to claim this exemption there are five qualifications that need to be met.

1. The individual(s) that claim the exemption must be BC permanent resident(s) for a full year before completion, or have filed tax returns showing BC Residency in 2 of the last 6 years; and
2. The buyers must by Canadian citizen(s) or permanent residents, ;
3. The property must be occupied by the individual(s) as their Principle Residence that claim this exemption for a full year after completion.
4. The property must be purchased for less than $425,000.00 for a full exemption and less than $450,000 for a partial exemption; and
5. It must be the first property purchased by the individual(s) as their principal residence.

This exemption can be claimed if the individual(s) obtain Canadian citizenship or permanent residency within a year after completion of the purchase; as long as they make that claim within 18 months.

If you have any questions about British Columbia First Time Home Buyers Exemption on Property Transfer Tax; or if you are buying or selling a property please call or email: david@davidnotary.com.

David Watts
Notary Public

Sound Legal Advice with a Tradition of Trust.

After winning Georgia Straight’s Best of Vancouver – Lawyer/Notary to use for Buying and Selling Real Estate for 2009, David Watts, Notary Public has been voted Georgia Straight’s Best of Vancouver – Lawyer to use for Buying and Selling Real Estate for 2010.

David would like to thank all the clients that have used his services throughout the years as well as all the mortgage brokers, realtors and bankers who have trusted our office with their clients. In addition, David Watts would like to thank his all star conveyancing staff: Natashia Kothlow and Brandi Durham for all their hard work. David Watts, Natashia Kothlow and Brandi Durham happily thank everyone who voted.

If you are buying or selling a property; or refinancing; and you need someone to handle the paperwork (conveyancing) for the property or refinance please call or email: david@davidnotary.com. If you know anyone who may be involved in the process or will be soon involved in the process they can find lots of information at our website: http://www.davidnotary.com. David is also always available to help explain everything to anyone new to the process, especially First Time Home Buyers. Feel free to phone any time.

Thank you once again!

David Watts
Notary Public

Sound Legal Advice with a Tradition of Trust.

To Efile means to electronically file real estate documents with the BC Land Title Office using their “Electronic Filing System” or “EFS”. Some Notary and law offices take the original signed documents, drive them down the Land Title Office in New Westminster, have them stamped there and then have them driven back. This form of registration is slow, expensive and involves unnecessary car trips. What our office does is E-File the transaction; which means we take your original signed documents; I sign the documents with an adobe digital signature and then have them uploaded to the BC Land Title Office via the provincial government’s BC Online Electronic Filing System. This service is faster, easier and more cost effective. The method of Efiling is not done by all Notary offices, but it is done by my office, David Watts Notary Corporation. If you are buying property or refinancing your mortgage, confirm your notary or real estate lawyer is Efiling.  If you have any questions about E-Filing or you are buying or selling a property please call or email: david@davidnotary.com.

David Watts

Notary Public

Sound Legal Advice with a Tradition of Trust.