Purpose of Form:
This form is used to transfer ownership of a tenant in common interest where: the parcel has been migrated to the land registration system (at least one interest has been registered); the interest being transferred has not been migrated to a registered interest and the document conveying the interest is not a triggering document.
Note: This document is recorded under the Registry Act for an unregistered tenant in common interest that is being transferred by a not for value transfer.
Background on Tenants in Common Interests: When a tenant in common interest (partial interest) in a parcel is registered under the Land Registration Act, only that interest is shown as a registered interest in the parcel register. All other tenant in common interests are shown as unregistered. This is because the particular partial interest has been searched and certified by an authorized lawyer while the others have not been searched or certified.
The Province’s ownership guarantee extends only to registered interests, i.e. those that have been searched and certified by an authorized lawyer. The parcel register is like a glass and the tenant in common interests fill the glass with water, one or more portions at a time as the tenant in common interests are registered in the new system.
If there are four interests, and initial registration is of only one interest, the other three ‘portions’ remain as unregistered tenant in common interests until they are searched and certified by an authorized lawyer. The glass (parcel register) is filled over time; when the other three unregistered interests are brought into the new system, all ownership interests in the parcel are registered—the glass is full.
Once one or more tenant in common interests in a parcel have been registered under the Land Registration Act, the parcel is registered under the Act and a parcel register is created. The parcel register will show the registered interests and may or may not also show the unregistered interests as Tenants in Common Not Registered under the Land Registration Act.
This form is used by the owner of an unregistered tenant in common interest or their agent, to request that the parcel register be updated to reflect a transfer for no value of the unregistered tenant in common interest in a registered parcel. The interest being transferred must be for “no value” as disclosed in the affidavit filed pursuant to the Municipal Government Act. In these cases (e.g. gifts), conversion of the partial interest is not mandatory, but the deed must still be placed in the parcel register.
If the transfer were for value, the transfer would constitute a mandatory migration to the system of that interest.
Instrument Type: Based on document attached.
LR or ROD: This form is indexed under the Registry of Deeds system due to the fact that while the parcel is under the land registration system, the interest involved is an unregistered interest and the document must be searchable in a Registry of Deeds search.
Mandatory E-Submission Applies: No
Fee Required: Yes
Accompanying Instrument Required: Yes
Acceptance Criteria for Form 50:
Correct registration district is provided
Compliance with Pre-Recording Checklist, (for document attached)
Form 50 includes only LR PIDs
Number of PIDs on form does not exceed 9
Form is dated and signed
Must be attached to a Form 44
Supporting Form(s)/Documents required: Document conveying non-triggering interest (e.g. partial interest deed, will, or other transferring document).