Pursuant to Section 403 of the Local Government Act, properties with delinquent property taxes will be offered for sale by public auction to be held at the Council Chambers, Sun Peaks Municipal Office, 106-3270 Village Way, Sun Peaks, BC on Monday, September 30, 2013 at 10 a.m. unless the delinquent taxes plus interest are sooner paid.
Any person upon being declared the successful bidder must immediately pay by cash, bank draft or certified cheque a minimum of not less than the upset price. Failure to pay this amount will result in the property being offered for sale again. Any balance must be paid by cash, bank draft or certified cheque by 3:00 p.m. the same day. Failure to pay the balance will result in the property being offered for sale again at 10:00 a.m. on the following day.
Sun Peaks Mountain Resort Municipality makes no representation express or implied as to the condition or quality of the properties being for sale. Prospective purchasers are urged to make all necessary inquires to municipal and other government departments, and in the case of strata lots, to the strata corporation to determine the existence of any bylaws, restrictions, charges or other conditions which may affect the value or suitability of the property.
The purchase of a tax sale property is subject to tax under the Property Transfer Tax Act on the fair market value of the property.
The current owner has one year after the tax sale to redeem their property by paying the upset price, all other outstanding taxes, penalties and interest. Title will not transfer unless the property is not redeemed within one year.
Section 421 of the Local Government Act provides that when real property is sold at Tax Sale, all rights held by the person who at the time of the sale was the owner, immediately cease to exist, except for the right of redemption, the right to bring an action to set aside the Tax Sale, and the right to possession. The registered owner’s right of possession is subject to the purchaser’s right to bring action against the original property owner for waste (i.e. damage or destruction to the premises) and the right of the purchaser to enter onto the property to maintain it in the proper condition and to prevent waste. Damage, destruction or loss of property during the redemption period are at the risk of the purchaser. The purchaser is advised to insure his interest in the property.
If no bids are received for at least the upset price, the Sun Peaks Mountain Resort Municipality will be deemed the purchaser.
A list of properties up for tax sale will be available two weeks prior to the tax sale.
Please note: Interac will NOT be accepted.