Property Transfer Tax
When you purchase or gain an interest in property that is registered at the Land Title Office, you are responsible for paying property transfer tax.
Taxable transactions include:
- transfer of fee simple
- right to purchase or agreement for sale
- lease or lease modification agreements
- life estate
- Crown grant
- escheat, forfeiture or quit claim
- transfer as a result of corporate reorganization
Property transfer tax should not be confused with annual property taxes. Annual property taxes are paid yearly for each property you own or have a registered interest in to fund services in your area.