Float Home / Houseboat

In BC, a float home is generally classified as personal property (chattel) rather than real property, because the dwelling sits on water rather than on titled land. This distinction is significant: the purchase and sale agreement differs from a standard real estate contract, financing is arranged through personal property or marine lending rather than conventional mortgage products, and the transaction may not trigger the same land title registration process. Buyers and sellers should confirm the legal classification of any specific float home with a BC lawyer before proceeding.

Under the Real Estate Services Act (RESA) and its Rules, a licence is required to trade in 'real estate,' which is defined around interests in land. Because most float homes are classified as personal property rather than an interest in land, the RESA licensing requirement may not strictly apply to the dwelling itself; however, if the transaction also involves the assignment or transfer of a moorage agreement connected to a strata lot or leased land interest, RESA licensing requirements could be engaged. Parties should seek clarification from the BC Financial Services Authority (BCFSA) or a BC lawyer about whether a licensed real estate professional is required for their specific float home transaction.

A moorage agreement is a contract between the float home owner and a marina or float-home community that grants the right to occupy a specific berth or slip on the water. Because the float home owner typically does not own the water lot or foreshore beneath the home, the moorage agreement is central to the home's usability and value — its term length, renewal rights, fee structure, and termination provisions can materially affect what a buyer is purchasing. Some BC float-home communities are structured as strata corporations under the Strata Property Act (SBC 1998, c. 43), where the berth may be a strata lot, while others operate under private lease or licence arrangements. Buyers should obtain and carefully review the full moorage agreement and any related strata documents before completing a purchase.

Property Transfer Tax under BC's Property Transfer Tax Act applies to transfers of a 'taxable transaction,' which generally involves an interest in land registered at the Land Title Office. Because a float home is typically classified as personal property with no fee-simple land title attached, the PTT does not ordinarily apply to the dwelling itself. However, if a transaction includes the transfer of a strata lot interest, leasehold interest, or any other registered land interest associated with the berth, that component could be subject to PTT at the applicable rates — currently 1% on the first $200,000, 2% on the portion up to $2,000,000, 3% on the portion between $2,000,000 and $3,000,000, and a further 2% on the residential portion above $3,000,000. Consult the BC Ministry of Finance or a BC lawyer to confirm PTT obligations for a specific float-home transaction.

The First-Time Home Buyers' exemption under the BC Property Transfer Tax Act applies to a qualifying transfer of an interest in land that is registered at the Land Title Office, with a full exemption available for eligible residential properties valued up to $835,000 as of current thresholds. Because most float homes are personal property without a registered land title, the exemption generally would not apply to the float home dwelling itself. If a berth associated with the float home involves a registered land interest, that component may be analyzed separately; consult the BC Ministry of Finance and a BC lawyer for guidance specific to the transaction structure.

Transport Canada has federal jurisdiction over navigable waters and vessels in Canada, and whether a float home is classified as a 'vessel' under the Canada Shipping Act, 2001 can have practical consequences including registration requirements, safety standards, and insurance considerations. A float home that is deemed a vessel may require compliance with federal marine regulations, which is separate from any provincial rules. Buyers in BC should confirm with Transport Canada and a marine lawyer whether their float home is classified as a vessel, as this affects insurance, financing, and ongoing compliance obligations.

Float homes require specialized marine or watercraft insurance rather than standard residential homeowner's insurance, because most conventional insurers exclude dwellings that float on water. Coverage considerations specific to float homes include hull integrity, moorage risks, flooding, and storm damage, and the availability of insurers in BC willing to cover float homes may be more limited than for land-based dwellings. Buyers should obtain confirmation of insurability and review policy terms carefully before completing a purchase, as some lenders and marina operators may also require specific minimum coverage levels as a condition of financing or moorage.

Some BC float-home communities are organized as strata corporations under the Strata Property Act (SBC 1998, c. 43), where individual berths or water lots are strata lots, the marina infrastructure is common property, and the community is governed by strata bylaws and a strata council. In that case, buyers are entitled to receive strata documents including the Form B Information Certificate, bylaws, rules, current budget, depreciation report (if one exists), and contingency reserve fund information, all of which are governed by the Strata Property Act and its Regulation. Many float-home moorages are not strata-organized and instead operate under private lease arrangements, so buyers should confirm the governance structure of any specific community at the outset.

Under the Real Estate Services Act (RESA) and its Rules, and BCFSA's professional standards, a licensee owes duties of disclosure, honesty, and good faith to clients, including disclosing material latent defects and conflicts of interest. For float homes, material facts that should be disclosed include the nature and remaining term of the moorage agreement, the classification of the dwelling as personal property, any Transport Canada vessel classification, and known structural or hull deficiencies. Licensees should also be transparent about whether their licence authorizes them to trade in the specific type of interest involved in the transaction, given the personal-property nature of most float homes.

A float home, as personal property, forms part of a deceased owner's estate and is distributed in accordance with their valid will or, absent a will, under the intestacy provisions of the Wills, Estates and Succession Act (WESA, SBC 2009, c. 13). The executor or administrator of the estate has authority to deal with the float home as part of the estate assets, which may include arranging its sale or transfer to beneficiaries. If the float home is associated with a strata lot or registered land interest, additional considerations under the Strata Property Act or Land Title Act may apply to that component of the estate.