UI Design: Declared/Consideration value + Hint Text

[LizGovier]

Original Message (Liz)

For the Declared Value of Home in MHR transfers we have different hint text for Affidavit of Executor (AFFE) and Sale or Gift (TRAN). (I’ve attached screenshots for reference).

TRAN
Declared Value of Home: Must be the current market value of the home

AFFE
Declared Value of Home: Must match the declared value at death as recorded on the list of Assets and Liabilities

Question:
Because a Sale and Gift transfer proceeds immediately after an AFFE, would it still make sense for the Sale and Gift hint text to still say "Must be the current market value of the home”. Just wondering if the 'declared value at death as recorded on the list of Assets and Liabilities’ would be the current market value.

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Response (Sharon):
Transfer due to sale or gift – the value is actually the consideration value from the bill of sale that we care about. We do n ot care about any other value. (I know that BCOL does this backwards.. but it is truly imperative that we are capturing the “consideration value”) The consideration becomes the new declared value as input from the bill of sale- it is NOT vice versa. (The declared value or assessed market value may differ from the consideration value). What is also imperative is that for all sake of knowing, the consideration value for us and for BC Assessment – this value is entered into the roll history of sale values.

Affidavit of Executor is a declared value of the home that MUST be under $25,000.00 (and may or may not match the market value. We do not get a list of Assets and liabilities with this filing- as an FYI – that is ONLY required to be received with “LETA” – letters of Administration.
For all references in the case of death, the value of the home should be recorded for the value as of the date of death (for WILL and LETA and AFFE).
**For AFFE- there may not necessarily be a “list of assets and liabilities” (although I feel this would be a good thing to provide)- but that verbiage, in my mind, could still be used for this transfer

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(Tracey)
Need to confirm that the consideration amount entered in the new UI is what gets saved back to the legacy green screen system as the "Value" for the sales history. And confirm if it is the consideration amount that is supposed to get shared with BC Assessment (or do we send BC Assessment both the declared value and the consideration?).

(Doug)
In DEV, MHR 107835 transfer consideration "$1250000.00" is saved to legacy as consideration "$1250000.00"

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