MIKE ATHEY
QUEBEC Oct. 1, 2020
Getting a new property in Quebec has become a little more complicated as new regulations came into effect on Oct. 1.
The new rules require anyone buying or selling Quebec properties to fill out an additional declaration form when transferring possession. Both sides of the transaction will need to . . .
disclose their citizenship or permanent resident status. Businesses will be required to disclose the name of the country, as well as state or province in which they are incorporated. There are also additional details required if a person or their family member intends to occupy the property as their principal residence.
The idea behind the new regulation is so the Quebec government can track foreign investment into the province. However, inter-provincial sales will also be subject to this added process.
“Everybody is going to be asked these questions,” said local notary Nancy Suominen.
This duty is falling mainly on notary offices. They are now required by law to fill out this new form before a sale can be completed.
“It is an obligation which is put on us,” said Suominen, “We are collecting this data and giving it to the land registry,”
This additional step creates more work for the notary; some may start charging fees to process the new paperwork.
“All I know is it will slow down publication,” said Suominen. “I cannot publish a deed without it.”
