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BCFSA’s information provides clear, concise, easy-to-read explanations of the requirements for real estate professionals under the Real Estate Services Act (“RESA”), Real Estate Services Regulation (“Regulation”), Real Estate Services Rules (“Rules”), and other applicable legislation.
This information is intended for use by real estate professionals, to support their understanding of the standards they must meet in the delivery of real estate services.
In British Columbia, all registrations for businesses, not for profit societies, and cooperatives are administered through the BC Registries department of the provincial government. All businesses, not for profit societies, and cooperatives must register, file documents and update records which are then stored in a database searchable by the public.
Pertaining to a real estate transaction, a corporate registry search will provide information confirming whether a company exists, the official corporate name as it is registered with the province, and the corporation’s directors and officers, but not shareholders. This information is useful for real estate professionals when facilitating a transaction where a buyer or seller of the real property is a company. In some instances, where the individual consumer representing the corporation does not appear in a company search, such as when the individual is not a director, additional information may be needed to confirm signing authority for that individual.
Some of the information that can be accessed on a corporate registry search includes:
- Status — the company is active or not active
- Recognition/incorporation date – when they were incorporated, registered, amalgamated within B.C.
- Last Annual Report — with date filed
- Previous company name(s)
- Registered office address
- Records office address
- Names of Directors, Officers – often included in annual reports