Pursuant to By-law 6, a lawyer or law firm that acts for one or more parties on a real estate transaction must pay the Law Society a real estate transaction levy surcharge of $65.00 per transaction inclusive of all taxes.
Some additional information on real estate transaction levies:
Likewise, a lawyer or law firm that acts for one or more parties on a civil litigation matter must pay the Law Society a civil litigation transaction levy surcharge of $50.00 per transaction inclusive of all taxes.
Some additional information on civil litigation levies:
Enabling The Transaction Levy Feature In PCLaw
Before using the Transaction Levy feature in PCLaw, the feature must be enabled on the System Settings - Provincial Tab. Newer versions of PCLaw have noted the January 1, 2010 rate change for real estate transactions in Ontario.
Setting Up Transaction Levies
To charge a transaction levy, the lawyer must have a valid LSUC number. This number is entered in PCLaw on the Lawyer and Rates - Provincial tab.
Posting A Transaction Levy
Transaction levy charges are posted to matters via Data Entry – Transaction Levy. For real estate, you select who you are acting for and the documents filed. If acting for both sides in a real estate transaction, you can enter the levy for both matters with one entry. For civil litigation, you select the type of claim/defence filed with the court.
If you have a busy practice, you can add a Transaction Levy button to your Quickstep menu.
As always, I invite your comments and suggestions for future post topics. I missed publishing last week because I was helping a new client, who came to me after he failed to pass his LSUC audit. It has occurred to me that I should write something about the subject. Next Week – PCLaw and LSUC Audits – What to Expect.