The Land Title and Survey Authority of British Columbia (LTSA) is a publicly accountable, statutory corporation responsible for operating BC’s land title and survey systems. In its Annual Report for the year ended March 31, 2020, the LTSA reviews its performance in achieving operational and financial targets.
Copies will be made available at the Annual General Meeting which will be scheduled in the fall with the exact date to be announced before the end of July 2020. Given current social distancing requirements arising from the COVID-19 pandemic, the LTSA will be proceeding with the Annual General Meeting via virtual means rather than at a physical location in Victoria. Further details and any instruction for attending virtually will be included in the formal Notice of AGM to be announced in the coming weeks.
Since its creation in 2005, the LTSA has consistently met or exceeded all land title and survey performance targets set by the Province in the Operating Agreement, and its solid performance record continues across operational and financial measures. In 2019/2020, 4.4 million online business transactions were conducted.
- The LTSA successfully processed land title registrations with an average turnaround time of 3.8 days against a target of 6 days.
- The LTSA confirmed Crown land survey plans with an average processing time of 8.5 days and issued Crown Grant documents with an average turnaround time of 6.9 days. These performance times remain significantly below the target of 21 days for both types of transactions.
In 2019/20, the LTSA has continued to transform our business by delivering innovative solutions through a customer-centric approach. This strategy has enabled the LTSA to grow while remaining true to the core mandate: to provide British Columbians with certainty and confidence in the land-related registries, survey systems and information, while maintaining accountability and integrity. LTSA is dedicated to building meaningful relationships across the industry with stakeholders and customers. The ongoing feedback and advice received through many surveys, focus groups, and working committees is deeply appreciated and allows for continuous improvement.
Working collaboratively with the Province, the LTSA is delivering several innovative initiatives in the public interest. Much of the focus this year was on building the Land Owner Transparency Registry (LOTR), a first-of-its-kind registry in the world. The LTSA further supported the Province by assisting the Ministry of Finance to modernize its Property Transfer Tax form and move its Property Tax Deferment application process from paper-based to electronic. In delivering public interest initiatives such as these, the LTSA is proud to do its part to provide BC homeowners with better transparency into the property market and streamlined processes for service delivery.