In British Columbia, most land title and related lending transactions are conducted through professionals such as notaries and lawyers, who require proof of identity as part of their professional due diligence requirements. Law Society of British Columbia rules that were enacted relating to proof of identity have also led to the implementation of processes to thwart the ability of fraudsters to impersonate a true owner.
Land title documents can be submitted on paper or electronically using our Electronic Filing System - electronic submission is fast and secure. When land title documents are registered through the LTSA, who owns legal title to land is again confirmed against existing land title records. Documents submitted to the LTSA require certification by a recognized professional.
The Federal Government introduced the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) program. This requires real estate brokers and agents to verify their clients' identities following specific FINTRAC guidelines, and to keep a client information record for every purchase or sale of real estate. If some parties in a real estate transaction are not represented by a real estate broker, the broker/agent will need to verify those parties' identities. Financial institutions are also required to verify their clients' identities for certain transactions following specific FINTRAC guidelines.