Escheat

Land in British Columbia held by a corporation that is dissolved escheats to the government under s. 4(1) of the Escheat Act, R.S.B.C. 1996, c. 120. If the corporation is revived under any Act by order of a court within two years from the date of dissolution, the land automatically vests in the corporation as if it had never escheated, subject to the terms of the court order. After two years from the date of dissolution, the land will not vest in the corporation upon revival unless the court orders that the land vest in the corporation, in which case the corporation can apply to register the court order in the land title office. See the discussion of the Escheat Act in chapter 40 (Escheat Act, R.S.B.C. 1996, c. 120).

In verifying the incorporation and existence of a corporation that appears on title as the registered owner of an interest in land but which has at some time been dissolved, the registrar must be satisfied both that the corporation has been revived and that the interest in land at issue has revested in the corporation.

Submissions

If the court orders that land vest in the corporation, use the Form 17 Fee Simple or Form 17 Charge, Notation or Filing, select Nature of Interest, Escheat, and attach the ministerial order for assignment or restoration of title under s. 5 of the Escheat Act.