Disclose a loss of exemption for property transfer duties

The Act Respecting Duties on Transfers of Immovables defines situations in which a buyer can be exempted from transfer duties. However, some situations can cause you to lose that exemption. 

For example, exemption could be lost in the following situation:

• A natural person (an individual) transfers a building to a legal person (a corporate entity) for which he or she owns 90 per cent of the stock. The transaction is exempt. 
• Later, however, there is a change of shareholders within 24 months of the sale of the building, resulting in a loss of exemption. 

When you lose your exemption, you have 90 days to send us a disclosure form.

A transfer duties account invoice will be issued by the city.