Prohibition on the Purchase of Residential Property by Non-Canadians Regulations
4 (1) For the purposes of the Act, the acquisition, with or without conditions, of a legal or equitable interest or a real right in a residential property constitutes a purchase.
(2) However, a purchase referred to in subsection (1) does not include
(a) the acquisition by an individual of an interest or a real right resulting from death, divorce, separation or a gift;
(b) the rental of a dwelling unit to a tenant for the purpose of its occupation by the tenant;
(c) the transfer under the terms of a trust that was created prior to the coming into force of the Act; or
(d) the transfer resulting from the exercise of a security interest or secured right by a secured creditor.
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