Private mortgage Quebec

Brace yourself investors. Quebec has passed new laws concerning zoning changes in municipalities and of course given permission to municipalities to increase the Land Transfer Tax (also known as the Welcome Tax) As published in an Article by Elias Benhamou and Anthony Arquin - Davies Ward Phillips & Vineberg : Adoption of Bill 122 and Its Impact on Real Estate Developments in Québec Authors: Elias Benhamou and Anthony Arquin June 19, 2017 On June 15, the Québec National Assembly adopted Bill 122, An Act mainly to recognize that municipalities are local governments and to increase their autonomy and powers (the “Act”). The government of Québec has described this omnibus law as “the greatest decentralization of powers to the municipalities in Québec history” [translation]. The highlights of the Act, which will have a major impact on real estate development projects in Québec, are as follows: exemption from the approval-by-referendum process for municipal