Lots of Canadians own real estate property all across the country, and their property is not always located in the province where they live and work. In this blog, we look at what happens when you own a home in a province that is different from the province where your primary residence is located. When you pass away, this second home could mean that your estate will have to be probated in two separate provinces thus increasing the time and legal expenses for your estate.
If you own property in another province, it is crucial to know what type of property it is. If it is real property or land, then you will likely need to have your will resealed in that province.
Resealing a grant of probate is the term used for when a lawyer takes the probate grant that was issued by the court in the province where you primarily live and then refile it in the province where you own your second home. The reason a resealing grant is needed is that a will is governed by the law of the location of real property or land. So, real estate in Alberta is governed differently to, say, real estate in British Columbia or Quebec.
In Alberta, we are very fortunate to have low probate fees. Currently, the highest probate fee charged by the Government in our province is $525.00. In contrast, other provinces currently charge high probate fees, such as:
Nova Scotia- $14, 600.00
Ontario - $14,500.00
British Columbia- $13,658.00
Prince Edward Island- $4000.00
You can see why many Albertan’s are shocked when they discover what it will cost them to reseal their grant of probate or reseal their grant of administration for a vacation home located outside Alberta.
If it’s personal property, such as cars or bank accounts, you need to talk to a lawyer and a financial institution to make sure that they're willing to rely on your will in your home province without having to reseal the will.
If you’re concerned about owning property in another province and the way this may affect your estate, talk to our wills & estates lawyers at Estate Connection. We can advise on the easiest way to handle the situation, and this may mean separating the estate – so we may write a will that deals with all the property in Alberta, and then contact a lawyer in another province and have them write a will dealing with the other property. We will ensure we take the time to confirm that the other will won’t revoke your Alberta will and that the executor of your estate is able to handle the estate in the applicable jurisdiction.
To find out more, contact us at (780) 458-8228 or at [email protected] today!