View Full Version : canadian ownership?
vetspet(ind)
03-07-2001, 05:11 AM
a friend of mine who is a lawyer stated that an american cannot own lake property in canada since some date in the eighties unless they were grandfathered in...i told him i don't believe this is true...does anyone know if an american can purchase land on lakes in canada in the present?...thanks
Frank from TBay
03-07-2001, 05:21 AM
I have many American neighbours on our lake in NW Ontario. Some have purchased as recently as last year. Americans have purchased a lot of property in our neck of the woods. Our realtors put the prices in both US and Canadian dollars. This is the first I have heard of this. US residents and dollars are welcome in our area.
Good fishing: Frank
Melonbob(ON)
03-07-2001, 12:25 PM
Same here, one of my closest friends on the lake is from Michigan, and he just bought and built about six years ago. Same with the two plots beside him...both from the US
AquaMan
03-07-2001, 01:15 PM
Not true. My parents bought land on Rainy Lake in Canada in 1990 and sold it to another US citizen in 1998. No problems eiter way. I think they had to have a bank account in Canada, though, but that could be just for the loan payments. Not sure.
AquaMan~~~~~~~~~~~~~
.·´¯° --- "It all begins and ends at the water's edge"
According to the info I was given by a "landed alien" (a U.S. citizen that owns a resort in Ontario); There was law that restricted the sale of Canadian owned land to Canadians only. Land owned by foreigners could be purchased by other foreigners or Canadians. The law was put into effect to prevent the sale of Canada to foreign interests. The law was suspended a couple of years ago due to government money flow problems and the free trade agreement. I have no idea how long this law was in effect or if the info was accurate.