How does Land Transfer Tax work on a Rent to Own? Is it paid once (when tenants exercise option to purchase) or twice (when you buy the unit and when the tenant exercises their option)?
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Submitted by: Tom Karadza
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Comment In Ontario when a property changes ownership Land Transfer fees are paid. 1. So, when you, the investor, buy the property you pay land transfer fees. 2. Then, when (and if) the tenant buys the property from you at the end of the lease then they pay the land transfer fees at that time. Hope that helps! Tom.
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