Yesterday I signed off all the docs for a 69 unit mobile home park we are buying in Cranbrook, BC.
As you know BC charges 1% for the first $200,000 then 2% on any property transfer as a tax. The purchase includes one mobile home valued at $25,000. The lawyer charged 2% on it, i.e. $500. I was arguing it is not a property, but a chattel as it is mobile and can be removed, and as such not subject to the land transfer tax.
Who is right ?
As you know BC charges 1% for the first $200,000 then 2% on any property transfer as a tax. The purchase includes one mobile home valued at $25,000. The lawyer charged 2% on it, i.e. $500. I was arguing it is not a property, but a chattel as it is mobile and can be removed, and as such not subject to the land transfer tax.
Who is right ?
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