News & Analysis as of

Canada Real Estate Investments

Bennett Jones LLP

The Double Default Rule in Real Estate Transactions

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"We're ready, willing and able to close. Are you?" These are familiar words to those who buy and sell real estate. They embody the notion that, on the time appointed for the closing of the transaction, a party is ready to...more

Stikeman Elliott LLP

Real Estate in Canada – Law and Practice

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1. General - 1.1 Main Sources of Law - Under Canada’s federal constitution, laws relating to real estate fall almost exclusively within provincial jurisdiction. Specifically, each Canadian province enacts its own...more

Stikeman Elliott LLP

Practical Law: Commercial Real Estate in Canada

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Common Entity Types - Legal persons (such as corporations) and natural persons can generally hold rights over real property in Canada. Investment in real estate can be made through direct ownership by an individual or...more

Bennett Jones LLP

Canada Extends Ban on Foreign Home Buyers to 2027

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The Government of Canada has announced a two-year extension to an existing ban on foreign ownership of Canadian housing. The Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act) was set to expire...more

Stikeman Elliott LLP

Clearing a Path for the Procurement of Renewable Projects in Atlantic Canada

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Amendments to electricity legislation in Atlantic Canada will create new opportunities for developers, investors and lenders, and allow for more efficient procurement of renewable power projects in these jurisdictions....more

Cole Schotz

Canadians who own US Real Estate – US Estate Tax Implications

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Many Canadians own US-situs real estate, whether it is in New York, Florida, California or elsewhere in the US. It is often a surprise (or a “trap for the unwary”) to Canadian clients (or for that matter, any non-US client)...more

Bennett Jones LLP

Ontario Passes Bill 97, Advancing the Province's Ambitious Housing Supply Action Plan for Homebuyers

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On June 8, 2023, Bill 97, the Helping Homebuyers, Protecting Tenants Act, 2023 (Bill 97) received royal assent. Bill 97 was initially introduced April 6, 2023 as part of Ontario's Helping Homebuyers, Protecting Tenants...more

Stikeman Elliott LLP

Important Amendments to Regulations under the Prohibition on the Purchase of Residential Property by Non-Canadians Act

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On March 27, 2023, the Federal Government of Canada announced Regulations Amending the Prohibition on the Purchase of Residential Property by Non-Canadians Regulations (together “the Amended Regulations”) which come into...more

Stikeman Elliott LLP

Regulations Amending the Ability of Foreign Workers to Buy Residential Property in Canada

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On March 27, 2023, the Federal Government of Canada announced amendments to the Regulations accompanying the Prohibition on the Purchase of Residential Property by Non-Canadians Act (together “the Amended Regulations”) which...more

Bennett Jones LLP

New Rules for Foreign Home Buyers in Canada Now In Force: Here's What You Need to Know

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On December 2, 2022, the Privy Council passed an Order in Council confirming regulations related to the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the Act). The Prohibition on the Purchase of...more

Bennett Jones LLP

Canada's Underused Housing Tax: What You Need to Know Before May 1, 2023

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What Is the Underused Housing Tax and Why does It Matter? The federal government's Underused Housing Tax Act1 (the Act) and the associated Underused Housing Tax Regulations2 (the Regulations) both took effect on January 1,...more

Stikeman Elliott LLP

Enhanced Disclosure Rules Coming into Effect for Issuers Involved in Real Estate Activities or Acting as Collective Investment...

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In December 2022, the Canadian Securities Administrators announced the adoption of amendments to National Instrument 45-106 Prospectus Exemptions applicable to issuers engaged in real estate activities or acting as collective...more

Harris Beach PLLC

New Canadian Real Estate Laws Include Banning U.S. and other Foreigners from Purchasing New Properties

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Two recently adopted pieces of Canadian legislation, the Underused Housing Tax Act and the Prohibition on the Purchase of Residential Property by Non-Canadians Act, may significantly impact United States citizens and other...more

Stikeman Elliott LLP

The Impact of Canada’s Two-Year Prohibition on Foreign Purchases of Residential Property on Foreign Workers and Global Mobility

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On January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act and its accompanying Regulations (together, “the Act”) came into force. Subject to a number of exceptions, the Act prohibits...more

Stikeman Elliott LLP

Canada’s Two-Year Prohibition on Foreign Purchases of Residential Property: What You Need to Know

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In response to rising housing prices, Parliament passed the Prohibition on the purchase of residential property by non-Canadians Act (the “Act”) in 2022. Intended to be in effect during the calendar years 2023 and 2024 only,...more

Bennett Jones LLP

Significant Changes Ahead: What You Need to Know About the More Homes Built Faster Act, 2022

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Key Highlights - - The proposed legislative changes are part of the government's long-term strategy to build 1.5 million new homes in Ontario within a decade. - Some of the key changes in Bill 23, if passed, will have...more

Bennett Jones LLP

Self-Induced Urgency Is Not “Urgent"

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"Self-induced urgency is not “urgent”." That was the opening line, and the ultimate decision from Hon. Justice Myers in Nicholas v Ogniewicz, 2021 ONSC 4442. The case involved an application by the purchaser for a...more

Bennett Jones LLP

B.C. Superintendent of Real Estate Permanently Extends REDMA Early Marketing Deadlines

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Effective May 1, 2021, following the expiry of Policy Statement 17 (PS 17) on April 30, 2021, the Office of the Superintendent of Real Estate (BC) (OSRE) will bring into effect amendments to Policy Statement 5 (PS 5) and...more

Bennett Jones LLP

Will COVID-19 Ignite Private Equity's Dry Powder?

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The COVID-19 pandemic has pushed global financial markets into a prolonged period of volatility and uncertainty (see our article on the impact of COVID-19 on M&A deal flow), reminiscent of the 2007-08 financial crisis. Many...more

Dorsey & Whitney LLP

CFIUS Expands Foreign Investments Subject to Scrutiny with Significant Carve-out for Canadian, Australian and U.K. Investors

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On January 17, 2020, the Committee on Foreign Investment in the United States (“CFIUS”) published two new rules that will greatly expand the scope of minority investments by foreign persons in U.S. businesses that are subject...more

White & Case LLP

Global M&A falls in Q3: Global M&A is down; Asia, transportation and real estate offer hope.

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After quarter-on-quarter gains in Q1 and Q2 this year, global M&A value took a tumble in Q3, registering the lowest quarterly total since Q1 2016. Volume dropped to the lowest quarterly figure since Q3 2013....more

Bennett Jones LLP

Fraud and Knowing Assistance—Between the Innocents

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Fraud continues to plague businesses and individuals in Canada and abroad, increasing at an alarming rate. Those involved in asset recovery frequently turn to the equitable doctrine of knowing assistance to catch "strangers"...more

Bennett Jones LLP

Ontario Corporations, Have You Got Your Real Property Register in Place?

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The Ontario Business Corporations Act now requires all Ontario corporations holding ownership interests in land in Ontario to maintain a register of their ownership interests at their registered offices. Ontario corporations...more

Perkins Coie

SEC Files Emergency Action to Halt Alleged ICO Scam

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On Friday, December 1, 2017, the SEC filed an emergency action in federal district court in Brooklyn alleging that Dominic Lacroix and Sabrina Paradis-Roger, both from Quebec, Canada, raised approximately $15 million in a...more

Dickinson Wright

Ontario Introduces 15% Tax on Foreign Real Estate Buyers

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The Ontario government announced a new proposal to impose a 15 percent tax on purchases of residential real estate by foreign buyers as part of its Fair Housing Plan. Similar to the foreign buyer tax enacted last year by the...more

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