The Nova Scotia government introduced two tax measures impacting non-residents in the 2022-2023 provincial budget. Effective April 1, 2022, the Province is implementing the Nova Scotia Non-Resident Deed Transfer Tax (the “PDTT”) and Non-Resident Property Tax.
As platforms such as Airbnb become ever more popular, tenants will increasingly seek to sublet their units on a frequent, short-term basis – potentially to even turn a profit. Although in principle sublets benefit both landlords and tenants, the unfortunate reality is that if used improperly they can create a major problem for landlords. A recent court decision has provided protection for landlords.
The real estate industry in Nova Scotia has been greatly affected by COVID-19. Consequently, the Nova Scotia government announced several initiatives intended on supporting Nova Scotia businesses and residents including an eviction moratorium and a rent deferral program.
A frequently encountered issue faced by many lenders in mortgage backed loan transactions is the use by the borrower of a nominee title holder, or bare trustee.
Condominiums remain industry standard for mid-rise and high-rise developments: but for low-rise developments (e.g. townhouses, low-rise villas, low-rise apartments), there is a greater mixture between freehold and condominium ownership structures.
Common Council for the City of Saint John (the “City”) approved a new municipal plan (the “Municipal Plan”) on January 30, 2012. The Municipal Plan sets out a long term vision for the City regarding land use, environmental stewardship, efficient delivery of municipal services, fiscal impact analysis of new or altered development applications, capital expenditures and investment decisions by the City, and detailed policies for monitoring and implementation.