Land Transfer Tax
The Saskatchewan Land Titles Registry issues titles to land and registers transactions affecting titles, including changes of ownership and registration of interests (such as a mortgage) against title to land. When a parcel of land is bought in Saskatchewan, a title to that parcel is registered with the Land Titles Registry (otherwise known as “ISC” (https://www.isc.ca). The title shows in what municipality the parcel is located and names the owner(s). Effecting changes to title in these respects costs money and is determined in accordance set out by a “tariff” or “schedule” pursuant to the Saskatchewan Land Titles Act and Regulations. Below is a link to land title fees:
For the purchase of any titled, real property in Saskatchewan, a buyer will pay .3% of the purchase price to have title transferred into your name(s). Thus, for example, if your purchase price is $300,000.00 you will pay $900.00 for transfer costs to ISC. If there is mortgage financing involved in a purchase, there will be a $160.00 ISC fee to register the bank’s mortgage against title (“securing” the lender’s interest).
Typically, there are also approximately $100.00 for other “disbursements” incurred by a purchaser, which will include a tax search, title search, fax, courier, etc.
The above costs are collecting by the purchaser’s lawyer and forwarded accordingly to ISC.
This information was provided by Michael G. Derbowka, Cuelenaere LLP
Mike is an experienced (not not mention friendly and professional) Saskatoon lawyer very knowledgable on all aspects of residental real estate law - he offers great service and very competitive fees. I highly recommend his services and he is happy to discuss your individual needs. Here's the link to his webpage: http://www.cuelenaere.com/lawyers/?no_cache=1&tx_wecstaffdirectory_pi1%5Bcurstaff%5D=17&cHash=bc8d92297fb9a7a146f6b3ef7e86e743