![]() Article Ban on Foreign Purchase of Residential Property in UDI NewsJanuary 12, 2023 Authors Mark V. LewisPartner Alixe A.L. CameronPartner Jane C. HelmstadterPartner The Urban Development Institute includes Bennett Jones' analysis of the Prohibition on the Purchase of Residential Property by Non-Canadians Act (Act) in the UDI Federal News update. The Act went into effect on January 1, 2023, and is in place for two years. The accompanying regulations were released on December 21, 2022, and clarify several key sections of the Act, including key definitions of applicability and exemptions. Details are available in the Bennett Jones blog, New Rules for Foreign Home Buyers in Canada Come Into Force January 1, 2023: Here's What You Need to Know. Republishing Requests For permission to republish this or any other publication, contact Amrita Kochhar at kochhara@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsMark V. Lewis, Partner • Co-Head of Commercial Real Estate Practice Vancouver • 604.891.5180 • lewismv@bennettjones.com Alixe A.L. Cameron, Partner • Co-Head of Commercial Real Estate Practice Calgary • 403.298.4482 • camerona@bennettjones.com Jane C. Helmstadter, Partner • Co-Head of Commercial Real Estate Practice Toronto • 416.777.7470 • helmstadterj@bennettjones.com |