Released on December 8, 2008
Information Services Corporation (ISC) is reducing the ad valorem rate for a number of Land Registry transactions, effective January 12, 2009. These fee reductions will save Saskatchewan people approximately $1.8 million annually.
"The fee reductions are a direct response to customer feedback ISC received during customer consultations conducted in spring 2008," Crown Corporations Minister Ken Cheveldayoff said. "Combined with fee eliminations already implemented in August 2008, Saskatchewan people will be saving approximately $4.7 million annually."
Many ISC customers will benefit from the reduction of fees from 0.3 per cent of title value to 0.1 per cent of title value for the following specific transactions in the Land Registry:
- The first instance of raising title from surface to condominium status;
- Title and parcel consolidations and subdivisions where at least one owner remains the same before and after the transaction; and
- Adding or removing a joint tenant from title, where at least one joint tenant remains the same before and after the transaction.
"During our customer consultations, customers indicated that they wanted sustainable fees over the long-term," ISC president and CEO Jeff Stusek said. "The January fee reductions demonstrate ISC's commitment to fair, predictable and sustainable fees. They meet our customers' needs while providing them with the greatest cost benefits."
ISC is the provincial Crown corporation responsible for the administration of land titles, survey, personal property and vital statistics registries, as well as related geographic information and mapping systems.
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For more information, contact:
Grant Bastedo
Information Services Corporation
Regina
Phone: 306-787-3447