Alberta Land Titles fees On the rise
We’ve all heard news reports of impending financial doom, rising costs and inflation. Today, that news hit home when I read a notice from Alberta Registries advising that Alberta Land Titles fees are on the rise.
When I was starting out as a lawyer more than 20 years ago, the cost to register a mortgage or transfer at the Land Titles Office was $1.00 for every thousand dollars of the transfer and the mortgage transactions. Those fees were reduced approximately 10 years ago to twenty cents for each thousand dollars of the transfer and mortgage transactions. Now, the Alberta government will be ratcheting up the fees charged by increasing its’ base fees from $50.00 for a transfer and mortgage to $100.00. This is probably just a sign of things to come, more rate increases.
Over the past couple of years we’ve seen that with the various municipalities charging more to issue compliance on Real Property Reports, increasing search fees, etc.
However, even with all of the increases, all of the costs you will incur today to purchase and mortgage your home are but a shadow of the costs which you would have incurred twenty years ago.
