EZtoFind.ca provides general educational information about BC real estate — not legal, tax, financial, or real estate advice. For your own situation, speak with the appropriate licensed professional: a BC lawyer or notary, an accountant or tax professional, a licensed mortgage broker, or a licensed REALTOR®.
EZtoFind.ca
Legal & Conveyancing
Escrow / Trust Funds (BC)
What is Escrow / Trust Funds (BC) in British Columbia?
General information only — not legal, tax, financial, or real-estate advice. Verify with a licensed BC professional before acting.
British Columbia does not use a US-style escrow system. Instead, funds are held in trust by a lawyer, notary or real estate brokerage, subject to strict trust-account rules under the Real Estate Services Act (RESA), the Notaries Act, or the Legal Profession Act as applicable. Deposits on a Contract of Purchase and Sale are held by the listing brokerage's trust account. Purchase funds move from the buyer's lender to the buyer's lawyer or notary, who then transfers them to the seller's lawyer or notary upon registration of the transfer. The word 'escrow' is sometimes used loosely in BC to mean 'held in trust', but no separate escrow agent (as in California) is involved.
Frequently Asked Questions
Is my deposit safe if held in a BC brokerage trust account?
Trust accounts are heavily regulated by BCFSA (for brokerages), the Law Society (for lawyers) and the Society of Notaries. Trust funds are separate from operating funds and subject to random audits. Discuss any concerns with your lawyer or notary.
All content on EZtoFind.ca, including Doogie's responses, the Glossary, Terms, FAQ's, community pages, weather, mortgage calculator, property transfer tax calculator is general information provided for educational purposes and is not a substitute for professional guidance tailored to your situation.
