Your dissolved company's property went to the Crown. Get it back.

What escheat means in BC

"Escheat" is the old common-law principle that property without a living owner reverts to the Crown. In BC, the principle is captured in the Escheat Act (RSBC 1996, c. 120), which governs how the Crown administers property that has come into its hands by escheat, forfeiture, or other operation of law.

Most of what we see is corporate escheat: when a BC company is dissolved — whether voluntarily or by striking for failure to file — its property generally passes to the government of British Columbia. Bank accounts are frozen, real property vests in the Crown, receivables become Crown receivables, and shares the company held in other entities become Crown-owned shares.

The Crown holds escheated property as a kind of statutory steward. The Crown may sell, transfer, or otherwise deal with it, subject to procedures under the Escheat Act. The longer the company has been dissolved, the more likely the Crown has actually done something with the property — and the harder recovery becomes.

The two-year distinction — why timing matters

This is the most important point on this entire page.

BC corporate law treats the first two years after dissolution very differently from the period after two years:

Inside two years. If a dissolved BC company is restored within two years of dissolution, the property of the company that escheated to the Crown generally revests in the company on restoration, as if dissolution had never occurred. Practically, this means: file the restoration, notify the bank or Land Title Office, and the company is back in operation with its assets intact. The Crown is, in effect, treated as a temporary holder.

Outside two years. After two years, the analysis changes. The Crown may have formally taken steps to deal with the property — administrative dispositions, transfers to other government entities, or commercial sales. Restoration alone is no longer sufficient to revest the property. A separate application to the Crown for return of the property is generally required, and the outcome depends on what the Crown has done in the interim.

Note on statutory references: the specific provisions governing this timeline are set out in the BCBCA and the Escheat Act. Before publication of any specific section references on this page, confirm with current legislation.

Recovery within two years

Where a BC company is restored within two years of dissolution, recovery of its property is typically a procedural matter:

• Restore the company. Administrative restoration under s. 360 of the BCBCA — filed with BC Registries.
• Notify the asset custodians. The bank, the Land Title Office, the brokerage, the CRA. Each requires confirmation of restored status and (sometimes) a separate confirmation that the Crown is content to release the property.
• Re-register where required. For real property, a notation on title confirming the restoration is usually filed. For bank accounts, the bank reinstates the account.
• Bring the company current. File any missed annual reports, update the transparency register, refresh the corporate record.

This is the cheap, fast path. The fee in our pricing reflects routine work; the cost almost always pales next to the value of the assets recovered.

Recovery after two years

After two years, the picture changes. The Crown is treated less as a temporary custodian and more as a current legal owner. Recovery typically requires:

• Court-ordered restoration. Once outside the administrative restoration window (or where the Crown won't consent to administrative restoration), a Supreme Court application under s. 363 of the BCBCA is generally required.
• Application to the Crown. A separate application — usually to the Ministry of Finance, which administers escheated property in BC — for return of the property. The Crown can impose conditions, including payment for any expenses the Crown has incurred holding or administering the property.
• Asset-by-asset assessment. Some assets are still held by the Crown and can be returned. Some may have been disposed of (sold, transferred to municipal authorities, distributed under other statutes). What was disposed of may be recoverable only as proceeds, or not at all.

The Supreme Court can, on a court-ordered restoration, attach conditions including provisions regarding the return of property. In practice, the court order typically directs the Crown's cooperation, but the administrative process with the Ministry of Finance is still required to complete the recovery.

Real property — the most common escheat scenario

The single most common escheat situation we see: a BC company owned a parcel of real property when it was dissolved. Title at the Land Title Office is still in the company's name. Years pass before someone — a buyer, a lender, the next generation of the family — tries to deal with the property.

What's actually happened: title legally vested in the Crown on dissolution. The fact that the LTO records still show the company's name doesn't change the underlying ownership. The Crown is the legal owner, even though it hasn't taken steps to formalize that.

Recovery within two years: restoration revests the property, the LTO records are updated, and the transaction can proceed. Recovery after two years: restoration plus Crown consent (and sometimes payment for the Crown's holding costs) is generally required. If the Crown has formally disposed of the property — uncommon for unimproved land, more common where the Crown actively administered it — recovery may be limited to proceeds or compensation.

Bank accounts and the BC Unclaimed Property Society

When a bank discovers that an account holder is a dissolved corporation, the standard procedure is to freeze the account. After a dormancy period, the bank is typically required to transfer the funds to either the BC Unclaimed Property Society (for amounts of certain types) or to the Bank of Canada (for federally regulated balances).

Recovery within two years is usually a matter of presenting the bank with proof of restoration. The bank reinstates the account and the company resumes use of the funds.

Recovery after the funds have moved to unclaimed property administrators requires a separate claim through the BCUPS process. The claim requires proof of restoration plus identification of the rightful claimant (typically the restored company, sometimes a successor or shareholder). Recovery is usually possible but takes longer.

Shares, receivables, IP, and other Crown-vested assets

Less common but procedurally similar:

• Shares in other corporations. Where the dissolved company held shares in another corporation, those shares vest in the Crown. Restoration revests them in the company. Where corporate actions have occurred in the interim (dividends, share splits, acquisitions), there are sometimes catch-up issues with the issuing corporation.
• Receivables. Outstanding invoices, contractual entitlements, and similar rights become Crown property. Where the debtor has paid in the interim (typically into court or to the Crown), recovery requires tracing payments.
• Intellectual property. Registered IP (patents, trademarks, copyrights) generally remains on the register in the dissolved company's name and is technically Crown property until restoration. Practical recovery is usually straightforward once the company is restored.
• Refunds and credits. CRA refunds, PST credits, and similar entitlements held by tax authorities at the time of dissolution can usually be recovered with restoration, though the procedural channels are tax-specific.

When recovery isn't possible (or not worthwhile)

Recovery is generally possible — even decades after dissolution — where the Crown still holds the property. Where it isn't (or isn't worth the effort):

• The Crown has formally disposed of the property in a way that confers good title on a bona fide third-party purchaser;
• The asset has been administered under another statute (e.g., used for a public purpose under specific authority);
• The cost of restoration plus recovery exceeds the value of the asset.

Even in those cases, a claim for proceeds or compensation is sometimes available. We assess viability before quoting — there is no point recovering a $10,000 asset for $20,000 in legal fees, and we say so.

Practical tips if you're in this situation

If you've discovered that a company you're associated with — as director, shareholder, executor, or buyer — is dissolved and holds assets, a few things to do (and not do):

• Don't try to deal with the assets. Don't sign documents in the company's name. The company doesn't legally exist; documents signed on its behalf may be invalid.
• Don't wait. Every year that passes makes recovery harder. If you're inside the two-year window, act now.
• Inventory before acting. Identify everything the company owned — bank accounts, land, shares, IP — before starting restoration. Recovery is most efficient when done in one coordinated process.
• Find the corporate records. Minute book, share register, prior filings. The restoration and recovery processes go faster with good records.
• Get legal advice early. Even an initial consultation will clarify whether you're inside or outside the two-year window and what the realistic options are.