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In This Volume

  • 4 (1) For the purposes of this section, if
  • (a) an individual or relevant corporation is a partner in a relevant partnership, and
  • (b) the relevant partnership referred to in paragraph (a) is a partner in another relevant partnership,
  • the individual or relevant corporation referred to in paragraph (a) is deemed to be a partner in the other relevant partnership referred to in paragraph (b).
  • (2) Subject to subsection (3) and the exemptions, if any, in the regulations, an individual is presumed to be a partnership interest holder in respect of an interest in land registered or to be registered in the name of a partner of a relevant partnership if the interest in land is partnership property and any of the following apply:
  • (a) the individual is a partner in the relevant partnership;
  • (b) the individual is a corporate interest holder in respect of a relevant corporation and the relevant corporation is a partner in the relevant partnership;
  • (c) the individual has a prescribed interest, right or ability in relation to the interest in land, or a prescribed criterion, circumstance or presumption applies to the individual.
  • (3) The presumption under subsection (2) that an individual is a partnership interest holder in respect of an interest in land does not apply if the partner in whose name the interest in land is registered or to be registered can demonstrate that,
  • (a) in the case of an individual who is a partner referred to in subsection (2)(a), the individual has no interest, right or ability, as a partner, in respect of the interest in land, or
  • (b) in the case of an individual who is a corporate interest holder in respect of a relevant corporation referred to in subsection (2)(b), the relevant corporation has no interest, right or ability, as a partner, in respect of the interest in land.

2019-23-4, effective November 30, 2020 (B.C. Reg. 250/2020).