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Foreign buyers seeking to purchase residential property in Ontario must be aware of the Federal Foreign Buyer Prohibition. Ontario real estate lawyer Paria Rad explains how the act restricts non-Canadians from buying residential real estate, whether directly or indirectly, under federal law. She outlines who is subject to the prohibition and clarifies which individuals and entities are exempt, including certain temporary residents, protected persons, and non-Canadians purchasing property with a Canadian spouse or partner. Paria also addresses the significance of the January 1, 2023, cut-off date for prior purchases and how immigration status under the Immigration and Refugee Protection Act may affect eligibility.

Whitby real estate lawyer, Paria Rad of Devry Smith Frank LLP and Woitzik Polsinelli LLP has over 13 years of experience in residential and commercial real estate law. If you have questions about the purchase of a property, contact Paria at [email protected] or at 905-668-4486.

www.devrylaw.ca/real-estate
www.durhamlawyer.ca/real-estate-law-2

Disclaimer: This video is not legal advice. Consult with a qualified legal professional for advice tailored to your circumstances.