Situation

Titles may be held in the name of a corporation. For a corporation to hold land in Saskatchewan, the following criteria must be met:

1. The corporation needs to have a Corporate Registry number assigned to it before it can apply to the Land Registry to be a registered owner or deal with a title as the registered owner.
2. The corporation needs to be actively registered in the Corporate Registry.
3. The corporation needs to be able to hold land.

 
NOTE: The Land Registry system regularly downloads from the Corporate Registry the names of those corporations that have cobra numbers, that are active, and that have the ability to hold land. Cobra-linked client numbers are issued to entities by the Corporate Registry at the time of registration in the Corporate Registry.

A corporation holding land may become inactive, but that corporation needs to continue performing land transactions.

Solution

There are three ways for an inactive corporation to deal with land in its possession:

1. It can be reinstated as an active corporation with the Corporate Registry.
2. It can obtain a court order.
3. If there is a signed transfer in the corporation's possession, ISC will accept an affidavit which includes the following:
   • A clause that the corporation was a Saskatchewan registered corporation with the ability to hold land at the time the transfer authorization was signed.
   • Attached documentary evidence (i.e. Certificate from the Corporate Registry) as to the incorporation at the time the authorization was signed.
   • Sworn by a former director as shown on the Corporate Registry profile at the time the transfer was signed or, if no directors are available, the lawyer or transferee.