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What to do what you are purchasing a property on Government leasehold land in British Columbia:

What to do what you are purchasing a property on

Government leasehold land in British Columbia:

 

Use a regular Contract of Purchase and Sale (your real estate agent will be able to do this for you).

 

Add in the addendum:

 

"The Seller and Buyer agree the Buyer is purchasing from the Seller all of the Seller's rights, title and interest in and to the Lease and the Property, and all of the right, title or interest (if any) of the Seller in any association or organization by virtue of the Seller being an owner of a leasehold interest in the property."

 

"The Seller agrees to complete and sign an Assignment Application package from the Ministry of Forests, Lands and Natural Resource Operations assigning Lease No. ____________ to the Buyer on or before _____________."

 

Government leases are controlled by the Ministry of Forests, Lands and Natural Resource Operations. You have to contact the Ministry and request an "Assignment Application package on their file # ___________". The file number is not the same number as the lease. The file number is found on the top right hand corner of the lease. Assignments take approximately 4-6 weeks to complete and no special conveyance is required. 

 

Ministry of Forests, Lands and Natural Resource Operations

441 Columbia Street, Kamloops, BC V2C 2T3

Tel: 250.828.4350

Fax: 250.828.4442

 

--

Alexandra Axsen

Owner/Managing Broker

Lake Okanagan Realty

Tel: 250.870.2792

Fax: 778.484.5252

Alex@LakeOkanaganRealty.com

www.LakeOkanaganRealty.com

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