The present Act provides for taxation of transfer of property and for gaining an interest in property that is registered at the Land Title Office. Taxable transactions include: transfer of fee simple, right to purchase or agreement for sale, lease or lease modification agreements, life estate, foreclosure, Crown grant, escheat, forfeiture or quit claim transfer as a result of corporate reorganization, The calculation of the tax is based on the fair market value of the property. The text consists of 38 sections.
Canada · 1996-01-01