Land Co-operative Residences - Applying For The Home Owner Grant

The Home Owner Grant Act defines a Land Co-operative as "a parcel of land that is owned by a corporation exclusively for the benefit of its shareholders who:

1. have rights to occupy a portion of the parcel; and
2. own shares, or shares and other securities in the corporation that have a value equivalent to the value of the portion in relation to the value of the parcel."

To determine your eligibility for multiple home owner grants under the Land
Co-operative provision of the Home Owner Grant Act, you must forward the following information to the Homeowner Grant Administration office:

1. List of shareholders, and their contributed capital
2. A completed Certificate of Eligible Occupants and Owner's Certificate (Form A). The form contains detailed instructions for completion and must be submitted for each year in which the grant is being claimed
3. The Application to Assessor for Assessment of Residential Buildings on Land Cooperatives or Multi-Dwelling Leased Parcels for Home Owner Grant (Form E). This form must be forwarded to the area assessor of BC Assessment for completion.

You are also required to advise the Homeowner Grant Administration Office if the shares in the corporation are transferable (e.g. can be sold at market value in the same way that other interest in land can be conveyed). As well, the shares should allow the eligible occupants to reside on their portion of the total parcel of land.

Please provide the above information to either your local Government Agents (opens in a new window) office or use the return envelope addressed to the Surveyor of Taxes office.