🚨 Alberta Land Title Fee Increases Effective October 20, 2024 🚨
- Gordy Sundar
- Oct 10, 2024
- 1 min read
The Government of Alberta is increasing land title fees as part of its 2024 budget. While the flat fee of $50 for land transfers and mortgage registrations remains the same, variable fees will rise significantly.
🔑 Key Changes:
Land Transfers: The fee will increase from $2 to $5 per $5,000 of property value.
Mortgage Registrations: Fees will jump from $1.50 to $5 per $5,000 of mortgage value.
For example, a transaction involving a $450,000 property with a $405,000 mortgage will see costs rise from $401.50 to $955 under the new fees.
Although Alberta will still have some of the lowest fees in Canada, if you're in the process of buying or refinancing, consider finalizing before October 20 to avoid these increases and save potentially hundreds of dollars.
Gordy Sundar
Mortgage Broker | Mortgageline
M: +1-403-585-0921
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