December 17, 2024

Thank you for your letter dated November 26, 2024, to our President and CEO, Shawn Peters, regarding fee adjustments implemented on July 29, 2023.

We always appreciate feedback from our customers or those in related groups and thank you for the opportunity to discuss these matters directly.

Further to my discussions with Christine and Alicia (today and two weeks ago), we want to reiterate that as a proud Saskatchewan-based and headquartered company, we are keenly aware of any impact fees might have on customers and other stakeholders in Saskatchewan. As such, we have always been committed to ensuring that fees for Saskatchewan Registry services are reasonable and competitive with those in other jurisdictions while ensuring the continued robust and reliable vital role and services of the registries.

We recognize that change of ownership fees on land titles are part of the overall equation for a transaction. Although, when considered relative to all fees in a purchase and sale transaction they are a very small part of that equation. In the examples cited in the linked publications you provided, the change in fees is 0.001 percent, or one-tenth of one percent, and that percentage increase would be largely consistent across any spectrum of land values in Saskatchewan.

Prior to the July 29, 2023 changes, other than Saskatchewan CPI adjustments to select fees, there had been no comprehensive Land Registry fee schedule review or revision over the prior 11 years and in particular, the ad valorem fee had not been adjusted for over 20 years.

The Land Registry fees, as adjusted, and as set out in contract with the Province of Saskatchewan, are intended to reflect the evolving security and infrastructure needs, as well as the people and technology costs required to provide the reliable and assured title transaction services on the timely basis that ISC has delivered in the past and will continue for the next 30 years.

We acknowledge your points around the increase in farmland value in Canada in 2023, according to a report from Farm Credit Canada, which in broad terms is a good indicator of positive demand and economic activity within the province. However, we would suggest that an increase in the change of ownership transaction fees of the 0.001 percentage noted above would not negatively impact the willingness of a purchaser to begin or continue a transaction. In fact, Saskatchewan remains one of the most cost-effective jurisdictions in Canada to transact a title transfer, with the total cost in Saskatchewan still well below the national average.

By way of example on the impact, since July of 2023, according to reports from the Saskatchewan Realtors Association, Saskatchewan has recorded 17 consecutive months of above average sales. As noted in their most recent release (dated December 6, 2024), October 2024 was a record month, and November 2024 was the second highest November on record, with 2024 shaping up to be one of the strongest years on record. Although these transactions are typically residential and not agricultural, it demonstrates the continued and strong willingness of both buyers and sellers in the Saskatchewan market.

In summary, we believe ISC has always demonstrated “a fair and reasonable” approach to the fee schedule, and continues to do so today, which respectfully addresses the resolution brought forward by your membership.

Thank you for the opportunity to respond to your inquiry and we look forward to continuing the positive relationship we have enjoyed with SARM over the years.

Todd Antill – Vice-President, Registry Operations, Information Services Corporation