Alberta Land Titles
To search for the title of a property in Alberta, the legal land description, land identification number code or LINC must be known. Searching from the civic address is possible but it does require a separate search to obtain one of the required fields to search within the Alberta Land system.
We offer a variety of Alberta Land Title services, including:
- Surface and Mineral Title Searches
- Obtaining copies of Land Title (Documents, Surveys, and Plans)
- Legal Description Services
- Regular, Certified and Historical Title Searches
- Document Searches (Caveats, Encumbrances, Easements, etc.)
- Document Registration (Discharge of Mortgage, Transfer of Land, etc.)
Tips for Farm Land Sale (Transfer of Land) in Alberta
If you own farmland in Alberta that you’re looking to sell, timing is on your side – land prices in Alberta have grown over the past few years, and you could be looking at real financial gain. That said, the process isn’t quite as simple as that, and there are a lot of factors you want to take into consideration when making this decision. Before you agree to a transfer of land, be sure to cover all your bases by informing yourself with the following advice.
First of all, you need to make sure you know the exact legal ownership of your property before you agree to a transfer of land. This means knowing precisely what your land consists of; for example, who has the rights to any permanent fixtures on your property? Are there any bodies of water on your property that you possess and want to retain rights over? How about mineral rights? While in Alberta, mineral rights generally belong to the Crown, there are exceptions, and if you do own these mineral rights, you want to make sure that you either want to sell them along with the rest of the property or specify otherwise in the contract.
Ownership and Restrictions
It is important that you understand what kind of ownership you hold over your property. If you’re married or in a common-law partnership, do you and your spouse share joint tenancy? If you don’t, it may be something worth thinking about, even if you aren’t considering selling the land. One of the features of joint tenancy is a “right of survivorship,” which means, in the event that one spouse dies, the other assumes full ownership of the property, and the deceased’s estate does not need to be subjected to any formal administration beforehand. You also need to consider if there are any restrictions or claims on your property that interfere with your ability to move forward with a transfer of land. Any such third party – for example, a renter – may need to give their consent in order for you to be able to carry out a sale.
Since selling your property will affect your income taxes, there are a number of things you’ll want to think about when deciding if and how you want to carry out your transfer of land. Since GST applies to sales of commercial property, your sale may be subject to GST; however, a GST exemption can apply in some conditions, such as if the buyer is a related party who does not intend to use the land for commercial purposes. This is only one of the tax considerations you need to account for when selling your property, though, and you want to make sure you know all of the ways your income tax might be affected. It’s highly advisable that you consult with a professional when it comes to these matters.
Selling your farm land can be a really profitable decision, but it’s crucial that you don’t walk in blind. Make sure to do your due diligence and get a strong understanding of Farm Land Ownership and Sale in Alberta before going forward with a transfer of land of any kind.