Interest holder(s) can transfer an interest on a title to another party. The formal name for this process in the Land Registry is an Interest Assignment.
An interest can be assigned for many reasons, but all of them require the consent of the original interest holder. For example, when one corporate interest holder (like an oil company that has an easement on a farmer’s parcel of land) buys all the property of another corporation, the original interest holder can transfer that interest to the company buying their assets.
When an interest is assigned, only the interest holder information changes. Other information like the value of the parcel, the expiry date of the interest, and any attachments (like parcel descriptions) will remain the same.
If more than one interest is registered, you can decide to assign any or all of those interests. Every interest is given its own unique identification number for each title it is applied against. You can also assign an interest to just one person or a corporate body, or you can decide to split an interest amongst numerous interest holders, as joint owners or as tenants in common (with fractional shares).
IMPORTANT NOTE: An Application for Interest Assignment must be witnessed. If an individual submitting the interest assignment does not have a witness that is a practicing lawyer in Saskatchewan, the witness must swear an Affidavit of Execution before the individual authorized to take an affidavit. Each Interest Assignment requires its own Interest Authorization form.
How to Submit an Application for Interest Assignment
Submit your Application for Interest Assignment electronically through ISC's convenient online submission
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page to download the required forms and instructions.
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