How to Complete the Ownership Section

Learn how to complete the Ownership section in your OLS packet.

Step 1: Set Up New Owner

Scroll down to the New Owners section.

Click the Single Owner radio button if one corporate entity is going to be the owner, Tenants in Common if two corporate entities will each have a fractional share of ownership.



Click the Continue button. The Setup Creation screen will display.



The Setup Currently Displayed field will show only one setup as a bulk setup. The bulk setup will be split apart to show a setup for each unit selected in the Condo Units grid after the Save button is selected.



The source parcel information will also display in the Setup 1-Bulk Setup section.

Step 2: Enter Title Information

Scroll down to the Title 1 section.

Enter 1/1 in the Fractional Title Share field, if the owner will own 100% of the title.

Enter a value in the New Title Value field. The system will not accept dollar signs, commas or decimal points. If all values are the same the user will want to complete this field at this time.




Note: If the value of each unit is different there are other options to consider:
  • Enter the value on the first setup and then go back and edit the title value on any unit title that is different. If this field is completed and the title value is not changed to the correct value, the system will not see that as an error as the title value field has been completed.
  • Leave the value blank in the bulk setup and then go back and enter the value into each new unit setup separately.

Step 3: Enter Owner Information

The next section to complete is the Owner 1 section. A client number cannot be set up at this stage for a corporate entity as they must use their existing COBRA-related client number. The COBRA-related client number can be searched in the Owners section. The number allows the corporation to hold land in Saskatchewan.

If you know the existing COBRA-related client number, you can enter the number using the Quick Add function.



To search for a corporate entity, do the following steps:

Click the Search for Client button in the Selection Change Options section on the right hand side of the screen.



The Search for Client screen will display.


 
Leave the Search By dropdown menu defaulted to Corporation Name.

Enter the corporate name in the Corporation Name field.

Select the checkbox preceding Include names that are similar in spelling.



Click the Find button. The Search Results grid will display with corporate names that are similar to the name searched.



Click the radio button for the appropriate corporate name and click the OK button.



The screen will refresh and the Owner 1 section will display with the selected corporate entity.



To use the Quick Add function of OLS do the following steps:

Enter the COBRA-linked client number of the corporate entity into the Quick Selection by Client Number field and click the Quick Add button.



The screen will refresh and the Owner 1 section will display with the selected corporate entity.



Verify the information that the corporate name and COBRA-linked client number are correct.

Step 4: Delete an Owner

Click the Delete Owner button to remove a previously entered corporate entity that has been added to the Owner section. A popup will display asking Are you sure you want to delete this owner? Click the OK button.


 
All information will disappear from the Owner 1 section of Title 1.

Step 5: Add an Owner

Click the Add Owner button to add a new owner or an owner that has been deleted.

The Owner 1 section will display and you can continue to add the corporate owner as described in the steps above.