29 Effect Of Notice Of Unregistered Interest

• 29 (1) For the purposes of this section, “registered owner” includes a person who has made an application for registration and becomes a registered owner as a result of that application.
• (2) Except in the case of fraud in which the person has participated, a person contracting or dealing with or taking or proposing to take from a registered owner

• (a) a transfer of land, or
• (b) a charge on land, or a transfer or assignment or subcharge of the charge,

• is not, despite a rule of law or equity to the contrary, affected by a notice, express, implied, or constructive, of an unregistered interest affecting the land or charge other than

• (c) an interest, the registration of which is pending,
• (d) a lease or agreement for lease for a period not exceeding 3 years if there is actual occupation under the lease or agreement, or
• (e) the title of a person against which the indefeasible title is void under section 23(4).

• (3) Subject to section 49 of the Personal Property Security Act, a person contracting with respect to, dealing with or taking from or proposing to take from a registered owner, an estate or interest in land, or a transfer or assignment of an estate or interest in land, is not affected by a financing statement registered under that Act whether or not the person had express, constructive or implied notice or knowledge of the registration.
• (4) The fact that the person who is contracting or dealing with or taking or proposing to take from a registered owner under subsection (2) had knowledge of a financing statement registered under the Personal Property Security Act, or that the person could have obtained knowledge of the financing statement by searching the personal property registry established under that Act, is not evidence of fraud or bad faith for the purposes of subsection (2).
• (5) A person contracting with respect to, dealing with or taking from or proposing to take from a registered owner, an estate or interest in land, or a transfer or assignment of an estate or interest in land, is not affected by a transparency declaration or transparency report filed with the administrator under the Land Owner Transparency Act, or by reported information or publicly accessible information made available for search under that Act, whether or not the person had express, constructive or implied notice or knowledge of the transparency declaration, transparency report, reported information or publicly accessible information.
• (6) The fact that the person who is contracting or dealing with or taking or proposing to take from a registered owner under subsection (2) had knowledge of a transparency declaration, transparency report, reported information or publicly accessible information referred to in subsection (5), or that the person could have obtained knowledge of the transparency declaration, transparency report, reported information or publicly accessible information by carrying out a search authorized under the Land Owner Transparency Act, is not evidence of fraud or bad faith for the purposes of subsection (2).

1979-219-29; 1982-60-7, effective August 1, 1983; 1990-11-69, effective October 1, 1990 (B.C. Reg. 278/90); 2019-23-109, effective November 30, 2020 (B.C. Reg. 250/2020); 2023-10-443.