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Manitoba Selling Off Property Registry for $75M

December 13, 2012 12:15 PM | News

Finance Minister Stan Struthers (CHRISD.CA FILE)

Manitoba is offloading the Property Registry for $75 million to a private company operated by the Ontario municipal employees’ retirement system.

Teranet Manitoba will operate the registry, while also paying royalties to the government in exchange for a license to provide property registry services to the public.

The registry provides property registry services to the public, such as those required when selling a house or buying a second-hand car.

“This arrangement is part of our modern approach to deliver services more efficiently,” said Finance Minister Stan Struthers. “It will mean better service for the public, a stable revenue stream for the province, a new company headquartered in Winnipeg and a reduction in the size of government without putting any Manitobans out of work.”

Existing employees will be transferred to the new firm.

The province will create a new Office of the Registrar General to oversee the registry system and ensure service levels are maintained.

— Staff