CHAPTER 11 Real Estate
As these types of structures are common in Canada, they do not pose any concern in a financing of a joint venture property.
Foreign commercial interests in Canada often involve mineral exploration and development. Each province records mineral rights in their own jurisdiction. For example, in Ontario, the Mining Lands Administration System organizes and records mineral exploration and development on Crown lands in Ontario. It is a digital system and corporations and individuals registered in the system can deal with mining claims and administration of those rights.
Foreign Ownership Canada generally does not prohibit foreign entities from purchasing commercial lands. However, federal and some provincial legislation does prohibit foreign nationals from purchasing residential property. The federal Prohibition on the Purchase of Residential Property by Non-Canadians Act prohibits non-Canadians from purchasing (directly or indirectly) residential property in Canada for a period of two years starting on January 1, 2023. In Québec, under An Act respecting the acquisition of farm land by non-residents , non-residents of Québec cannot acquire farm land unless they receive the authorization of the Commission de protection du territoire agricole du Québec, the authority in charge of preserving agricultural land in Québec. Some other provinces have similar restrictions to preserve agricultural land. Land-Use Planning Land-use planning is the responsibility of provincial governments and is supervised at the provincial level, but significant planning functions are typically delegated to municipalities. In Ontario, the Planning Act provides the principal means for the provincial and municipal governments to control the development and use of land. Land use is controlled through such instruments as the official plan (a long-range general plan for a region or municipality) and zoning bylaws (which regulate, for each parcel of land in the municipality, the uses permitted and other matters such as required parking and the type, size, height and location of buildings and structures). It is crucial for a purchaser of land to understand both the official plan and the particular zoning bylaws. Municipalities require that site plans be approved before the construction of any new development. Site plans set out the details of a development, including the location
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