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condominium under construction to assign residential purchase agreement

January Tax News: ‘Assigning’ residential purchase agreements, tax instalments–and more

“ASSIGNING” A RESIDENTIAL PURCHASE AGREEMENT Purchasers of new homes and condominiums sometimes sell their rights to the property before the closing. This happens frequently with new homes or condos that take years to be built. It may happen because of a change in circumstances, or simply because the buyer wants to profit from an increase […]