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The Lay of the Land DEVELOPMENTS IN CANADIAN REAL PROPERTY LAW

Tag Archives: Regulations

New Québec Transfer Duty Regulations

Posted in Commercial, Policy, Residential

The Quebec government has deposited new regulations to give effect to measures ann‎ounced in the March budget.

Among the clarifications are confirming that exemptions for inter corporate transfers are based on 90 per cent issued shares and not voting shares, a trigger on change of control within 24 months of an exempt transfer, clarifying that options to purchase shares are captured within the anti-avoidance provisions as well as clarifying that amalgamations are exempt transfers.… Continue Reading

Crowdfunding for Canadian Real Estate: new frontiers in financing

Posted in Commercial, Policy

Equity crowdfunding is a relatively new concept, and governmental regulation is struggling to keep pace with the rapidly changing crowdfunding landscape the world over. Crowdfunding for real estate is still in its early days in Canada. However, it has been making significant inroads in the US. In 2014 and 2015, there have been a number of large real estate projects in the US backed by crowdfunding campaigns (i.e. 17 John Street commercial real estate overhaul in Manhattan, $25M raised as of September 2014). In contrast to traditional investing through REITS (real estate investment trusts), crowdfunding portals provide investors the … Continue Reading

Developers, Brokers and Anti-Money Laundering Legislation: Who Is Responsible?

Posted in Municipal

In situations where developers retain real estate brokers to conduct sales activities on their behalf (for example, in a sales centre), questions may arise as to whether the developer has any obligations under the Proceeds of Crime (Money Laundering) and Terrorist Finance Act (Canada) (the “Act”) and the Proceeds of Crime (Money Laundering) and Terrorist Finance Regulations (the “Regulations”) with respect to purchaser identification and reporting, particularly where the real estate broker is already collecting such information for his or her own purposes.

Subsection 39.5(1) of the Regulations provides that, generally, Part I of the Act … Continue Reading

City of Toronto Municipal Election Campaigning – Relevant Facts for Property Owners

Posted in Municipal

On October 27, 2014, residents of the City of Toronto will go to the polls to cast their votes for mayor in what may be the most anticipated and internationally-watched municipal election in the City’s history.  With election campaigns underway, I thought it would be relevant to explore the regulation of campaign activities on privately owned property.  As one may expect, owners of private property are generally free to do as they wish with respect to campaign activities on their property; however, a few relevant regulations do exist.

 

The Residential Tenancies Act, 2006 (Ontario) prohibits landlords from restricting reasonable … Continue Reading

Restrictions on Foreign Investment in Alberta

Posted in Municipal

Building on Michael’s post from last week, another issue facing foreign investors in the Canadian real estate market are restrictions on the acquisition and ownership of land in the Prairie Provinces.

Alberta’s Foreign Ownership of Land Regulations (the “Regulations”) restrict foreign acquisition of interests in mainly rural land by the establishment of a scheme of controlled and uncontrolled land. Controlled land typically refers to farm land and ranches – the Regulations provide that controlled land means land in Alberta, excluding Crown land, land within the boundaries of a city, town, new town, village or summer village, and … Continue Reading