NON-RESIDENT CONDO SELLERS
Non-Resident Condo Sellers
A condominium sale with non-resident ownership needs early planning for legal documents and professional advice.
Provide complete information
Tell us about residency and signing arrangements and send the agreement, condominium details, and ownership information.
Address closing requirements early
We assess the legal steps within our scope and coordinate with your tax adviser where needed. Do not assume the sale can follow the same timeline as every other transaction.
Non-resident tax issues and the unit
A non-resident condominium sale combines Canadian tax compliance with the corporation and title matters affecting the unit. Confirm tax residency with appropriate advice rather than relying solely on where you currently live.
Certificates and closing funds
Notification, compliance certificates, and withholding arrangements may be relevant. Coordinate the tax work early because it can affect the amount and timing of proceeds available at closing.
Corporation documentation and occupancy
Provide status certificate materials, common-expense records, assessment notices, and parking or locker information. If the unit is rented, send the lease and explain the agreement’s possession requirements.
Rental and property records
Your tax advisor may need acquisition, improvement, and occupancy information. Keep those records separate from assumptions about the buyer’s or lender’s requirements.
Signing and communication from abroad
Plan identification, execution of documents, time-zone coordination, and payment instructions before the closing date. The applicable signing requirements depend on the documents and parties involved.
Verified distribution arrangements
We discuss any necessary holdback and the lawful instructions for proceeds. Confirm banking details directly with our office and coordinate exchange or overseas transfers with your financial provider.
Organize tax and condo information together
A non-resident condo closing should not be planned solely around travel availability. Tax documentation, corporation information, and lender requirements can each affect completion. We discuss the legal sequence and identify the records needed while coordinating with the relevant advisors.
Documents to prepare
- Sale agreement and acquisition records
- Tax-advisor contacts and compliance documents
- Corporation, parking, locker, and tenancy records
- Overseas signing and banking details
Let’s discuss your next step
Contact Maki Law for practical guidance on your property transaction or construction matter.
416-991-4775 · contact@maki.law
136A Avenue Rd, Toronto, Ontario M5R 2H6
MAKI LAW
Address
136A Avenue Rd
Toronto, Ontario M5R 2H6
Contact
416-991-4775
Fax: 416-981-3420
contact@maki.law
Service Areas
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General information only. Contact our office for advice about your circumstances.