The Cowichan decision granting aboriginal title to an area in Richmond, B.C., has real estate industry leaders concerned about how uncertainty could affect the market in that region.
The Aug. 7 ruling recognizing Cowichan Nation’s aboriginal title to approximately 7.5 square kilometres of land in southeast Richmond has put the finality and binding nature of property transactions into doubt, B.C. Real Estate Association CEO Trevor Koot says.
The court ruling led to letters being sent out earlier this month to around 150 Richmond property owners saying the “validity” of their title to the land may be in question.
The court said Cowichan holds rightful title to the Crown land and municipal titles concerning the properties in question, owing to their historical presence on that land. The ruling found that title was historically transferred away from Cowichan in a way that was “invalid” and “unjustifiably infringed” on its rightful ownership. Justice Barbara Young issued a suspended sentence in the case, giving 18 months for the transfer to take place….