Grow the Business in the Public Interest
Develop new business opportunities and product innovations that solve problems for customers and society at large.
Key business initiatives and achievements delivered to support this objective include:
Land Owner Transparency Registry (LOTR)
The first-of-its kind in Canada, the Land Owner Transparency Registry (LOTR) is a public, searchable database containing information about individuals who are deemed to have an indirect interest in land. LOTR improves real estate transparency in BC and supports the Province’s 30-point housing plan to address housing affordability. In April 2021 LTSA launched the search function for LOTR, allowing government agencies and the public to search records. There have been over 3,000 LOTR registry searches done by the general public and over 350,000 searches done by enforcement officers and ministry officials, taxing authorities, law enforcement agencies and regulators. During the year, the BC government extended the deadline for pre-existing owners to file with LOTR to November 30, 2022 in order to give pre-existing owners more time to gather information about ownership and prepare to file to LOTR.
First Nations National Land Registry
LTSA has been collaborating with the Lands Advisory Board (LAB) and LAB Resource Centre to explore how LTSA could assist the formation of a new independent national land registry that would be governed by First Nations. This would provide reliable and trustworthy land-related systems and information to support First Nations who have land codes and wish to use these services to self-manage the governance, management, protection, and development of First Nation lands. During the year, a preliminary solution definition and architecture was developed, a regulatory and governance model was completed, and the LAB has agreed to submit the project to the Government of Canada for further funding. A Memorandum of Understanding was executed creating a framework to progress this initiative, and LTSA has begun further solution definition work. These plans support LTSA’s commitment to the implementation of the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP).
Land and Property Data Services
LTSA is well positioned to solve specific needs for key stakeholder groups, with a focus on items that improve transparency and efficiency in the real property market. This could include services on behalf of the Province of British Columbia, local governments, public sector entities as well as other stakeholders who participate in the real property market.