Worried about the impact of the Vacancy (Empty Homes) Tax on your residential transactions in Vancouver?
Obtaining title insurance with Chicago Title is your solution!
There is coverage under our residential owner and lender policies for taxes that can form a lien against a property. We regularly pay out claims for realty taxes attributable to a prior owner and the Vacancy (Empty Homes) Tax is no different.
When ordering a policy, we will require confirmation that the Vacancy (Empty Homes) Tax has been paid and/or that the property is not subject to the tax. A statutory declaration from the borrower or vendor is acceptable.
Title insurance with Chicago Title provides peace of mind that your client is protected with respect to this new tax. At Chicago Title we are committed to delivering innovative solutions to help close your transactions.
If you have further questions, please contact your regional sales manager or one of our experienced underwriters to discuss further.