Superintendent of Real Estate Issues Policy Statement 16

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The Superintendent of Real Estate has issued Policy Statement 16, supporting the creation of the Condo and Strata Assignment Integrity Register. Coming into force on January 1, 2019, Policy Statement 16 will require terms and a notice regarding assignments of purchase agreements to be included in all new or existing disclosure statements for developers’ offerings of strata lots in stratified buildings located in British Columbia.

Policy Statement 16 was issued after public and industry stakeholders were given the opportunity to provide feedback, and is designed to complement the amendments to the Real Estate Development Marketing Regulation announced November 5, 2018.

For more information about Policy Statement 16, please see:

Also beginning on January 1, 2019, please note that fees payable under the Real Estate Development Marketing Act (REDMA) will rise. This is the first change in fees since REDMA was implemented in 2005, and recovers increased regulatory and enforcement costs, including those for the new Condo and Strata Assignment Integrity Register.

Starting January 1, 2019:

Fee for filing an application for an exemption, or filing a disclosure statement for:

9 or fewer units: $900
10 to 49 units: $1,800
50 to 99 units: $3,600
100 or more units: $5,400

Fee to file an amendment to a disclosure statement: $600

Fee to request a retrieval of a filing: $38

Fee for a copy of a public filing: $1 per page

These fees will come into effect starting January 1, 2019. The current fee schedule continues to apply until that date. For more information view Requirements for Marketing Real Estate Developments.