Posted by jeff on July 11, 2002 at 17:52:14:
there are several canadian investors on this site and i have never seen any of them say that alnd trusts arent valid there. they will correct me if im wrnog im sure, but id think as much as land trusts are mentioned here, one of them would have been complaining about not being able to do them.
better check with an attorney, but to the best of my knowledge, im guessing they are legal in canada also.
Due On Sale in Canada - how much different is it? - Posted by GinBC
Posted by GinBC on July 11, 2002 at 14:31:37:
Hi all,
I’ve been reading about this Due On Sale clause. In Alberta anyone can assume a mortgage without qualifying, but in BC this isn’t so. Is there anyone out there who may know the technicalities of this and how I would go about assuming a loan without qualifying in sunny BC. I read something about land trusts etc for the U.S., but I don’t beleive this applies here. Any thoughts before I bug my Lawyer.
Thanks in advance
G in BC
Canada - how much different is it? - Posted by GL(ON)
Posted by GL(ON) on July 11, 2002 at 18:24:26:
In Ontario the only thing that is (or was) fairly common is the Agreement for Sale, long form.
This would be like a Land Contract I think.
They had a certain vogue in the high interest 80’s then went away.
Recently developers have been selling new houses and advertising “Rent to Own”. This is not a lease option, it is the old Agreement of Sale brought up to date.