A buyer relocating from Toronto is budgeting for closing costs on an Alberta home and asks about land transfer tax. Which statement is correct for an Alberta purchase?
Correct Answer
A) Alberta has no land transfer tax; the buyer pays Land Titles registration fees instead
Alberta has no land transfer tax, either provincial or municipal. Buyers pay registration fees at the Land Titles Office to register the transfer and any mortgage, unlike Ontario's provincial land transfer tax (plus Toronto's municipal tax) or British Columbia's property transfer tax.
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