Closing Day (Completion)
Also known as: Completion day · Completion date · BC closing · Closing
Closing day, or completion, is when the buyer's lawyer registers the title transfer at the BC Land Title Office and the money reaches the seller. It is not the possession date, which is usually one day later, and not the adjustment date, when property tax, utilities and strata fees are prorated.
In BC, closing day (formally "completion date") is the date the buyer's lawyer registers the transfer of title at the BC Land Title Office and the purchase funds are released through the lawyer's trust account to the seller. Registration and release of funds happen on the completion date, so the lawyer needs time that day to register at the Land Title and Survey Authority (LTSA) and confirm it.
Completion, possession and adjustment are three different dates. They are typically THREE different dates in a BC contract: completion is the legal title-transfer day; possession is when the buyer takes physical possession (usually completion + 1 day); adjustment is the date for prorating property tax, strata fees, oil tank fills, and prepaid utilities. Some buyers also conflate "closing" with "subjects removed"; subjects removed simply means the contract is firm; closing is many weeks later.
Plan around all three: closing-day cash needs (down payment, Property Transfer Tax, legal fees and adjustments), possession logistics (movers booked for the day after completion, not the day of), and the adjustment-day prorations on your closing statement.
Related terms
- Possession DateThe day you actually get the keys, which is set in the contract and is usually the business day after completion.
- Adjustment DateThe date the contract uses to split ongoing costs between seller and buyer.
- BC Land Title Office (LTSA)The BC land registration system operated by the Land Title and Survey Authority (LTSA) under the Land Title Act, RSBC 1996, c.
- Title InsuranceA one-time-premium policy bought at closing that covers the owner, the lender, or both against loss from a title problem that pre-dates it.
- Property Transfer TaxA provincial tax payable to the Province of British Columbia on the registered fair market value of any residential property title transfer, calculated using marginal-rate brackets.
See also
Verified sources (3)· re-verified Nov 6, 2026Show sources
Every claim on this page is sourced to a primary government, regulator, or industry-association URL. We re-verify quarterly; the verification dates below show when each source was last confirmed against the live government page.
- BC Governmentretrieved May 9, 2026Land Title Act, RSBC 1996, c. 250https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96250_00
- Otherretrieved Nov 6, 2026About the Land Title and Survey Authorityhttps://ltsa.ca/about-ltsa/
- BC Governmentretrieved Aug 2, 2026Land Title Act [RSBC 1996] c. 250https://www.bclaws.gov.bc.ca/civix/document/id/complete/statreg/96250_01
bc.lto.overview · v1View in Codex →Review dates, licence and how to cite this entry
- Rule effective
- 2005-01-20
- Last verified
- 2026-05-09
- Next scheduled review
- 2027-05-09
Use any of these formats. Codex content is licensed under CC BY 4.0 — attribution required.
@misc{bronsonjob-bc_lto_overview,
author = {Job, Bronson},
title = {{BC Land Title Office (LTSA) overview}},
howpublished = {BC Real Estate Codex},
year = {2005},
url = {https://www.bronsonjob.com/codex#bc.lto.overview},
urldate = {2026-05-09},
note = {Fact ID: bc.lto.overview, version 1.}
}Job, B. (2005). BC Land Title Office (LTSA) overview. *BC Real Estate Codex*. Retrieved 2026-05-09, from https://www.bronsonjob.com/codex#bc.lto.overview
BC Land Title Office (LTSA) overview — Bronson Job PREC, BC Real Estate Codex (2026-05-09). https://www.bronsonjob.com/codex#bc.lto.overview
Fact id: bc.lto.overview · v1 · machine-readable: /api/v1/facts/by-id/bc.lto.overview.json
License: This definition is licensed under CC BY 4.0. Cite as: "Closing Day (Completion)", BC Real Estate Glossary by Bronson Job, https://www.bronsonjob.com/glossary/closing-day.