My question is: Canadian-specific
QUESTION: I am buying a house that isnt registered in MLS and is a sale from
a friend is there a way to not pay the land trandfer tax. Thanks for your
time, Tyrus
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david ingram
Well, if you did not register the house, you would not have paid the land
transfer tax but would still owe it unless this is a first time purchase and
the price is low enough.
Of course, if you do not register the sale and the friend decided to sell it
again, he could and the new purchaser who registered the title would own the
property.
You would have to sue your friend to get back the money you had paid him.
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