This update is further to our first blog post from December 23, 2022 on the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”).
Based on significant industry feedback from across the country with respect to the unintended consequences of the nationwide prohibition on the purchase of residential property by non-Canadians that came ...
Introduction
Earlier this year, the federal government introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”)[1], which comes into force on January 1, 2023. The stated purpose of the Act is to address Canada’s housing affordability crisis.
The Prohibition
The Act will prohibit non-Canadians from purchasing ...
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Our Real Estate Law Blog provides brief commentary on current legal trends and developments affecting your business. The topics addressed in Lawson Lundell’s Real Estate Law Blog are of interest to commercial real estate developers, real estate and strata agents, investors, landlords and tenants, as well as a variety of industry groups.
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