Property Transfer Tax
When you purchase or gain an interest in property that is registered at the Land Title Office, you're 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.