WINNIPEG – Manitoba has signed a deal that its says will make it easier to find or register legal documents when selling a home.
Finance Minister Jennifer Howard says the government has sold its property registry agency to Teranet Manitoba for $75 million.
The private online provider is to pay royalties to the government in exchange for its licence.
Howard says the change will mean better service for the public.
She says the deal will provide stable revenue for Manitoba and reduce the number of workers on the government payroll without putting anyone out of work.
Get daily National news
Employees of the existing property registry are to be transferred to Teranet.
The deal calls for Teranet to invest about $35.5 million in new technology to ensure services such as titles, property searches and registrations will be available through a secure online system.
Teranet is to make annual royalty payments of about $11 million that are to increase to $24 million by the end of the 30-year licensing deal.
The agreement allows the province to limit increases in fees to stable and predictable changes.
All existing property registry offices are to remain open.
“This deal allows us to take advantage of Teranet’s expertise in delivering this specialized service and it ensures good value to the government while protecting the public,” Howard said in a release Monday.
Teranet is an Ontario-based company owned by the Ontario municipal employees pension. It has a similar agreement for property registration services with the Ontario government.
-
![]()
‘I don’t direct companies’: Doug Ford distances himself from ICE armoured vehicle order -
![]()
Alberta judges make a statement about judicial independence after premier said she wants to ‘direct’ them -
![]()
Ford says he has ‘incredible’ relationship with Kinew amid Crown Royal ban threat -
![]()
Doug Ford says his stance is clear on ‘Chinese spy vehicles,’ looks forward to auto strategy with Carney
Comments