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In This Volume

In the past, the provincial Crown provided financial assistance to homeowners for the purpose of purchasing homes. The various home programs operated under the Home Conversion and Leasehold Loan Act, the Home Mortgage Assistance Program Act, the Home Purchase Assistance Act, the Homeowner Interest Assistance Act, and the Provincial Home Acquisition Act.

The Crown stopped making loans under these Acts and transferred many of its interests in the loans to the Bank of Montreal. Effective April 1, 2004, the five home program Acts were repealed by s. 25 of the Budget Measures Implementation Act, 2004, S.B.C. 2004, c. 14. In ss. 20 to 24, the Budget Measures Implementation Act, 2004 makes transitional provisions with respect to any loans or mortgages that remain outstanding under the Home Conversion and Leasehold Loan Act, the Home Mortgage Assistance Program Act, the Home Purchase Assistance Act, and the Homeowner Interest Assistance Act. Regulations under these Acts also continue in force.