Keeping Your Home’s Purchase Price A Secret

John Manneh September 16, 2013

house_keys.jpg.size.xxlarge.letterbox-1Many clients are starting to request to keep the price they are paying for a home off of the government’s title records for privacy reasons.

By paying your land transfer tax in advance, you can keep this information private. The tax is typically paid by your lawyer. However if you would rather do this yourself, be sure to include the following documentation:

  • A cover letter from the lawyer;
  • A copy of the original agreement of purchase and sale;
  • The draft deed to be registered on closing;
  • A copy of the statement of adjustments;
  • Three signed land transfer tax affidavits; and
  • A certified cheque payable to the Ministry of Finance for the amount of land transfer tax owing.

The Ministry will then provide your lawyer with a special code to be entered on closing, to confirm that the land transfer tax has already been paid. The Ministry suggests that all material be sent three weeks in advance of closing to make sure it is completed in time. I’ve found that if you go in person to the Ministry office, you should be able to obtain the code that same day. The GTA location is the Ministry of Finance offices, Land Taxes department, 33 King St. West in Oshawa L1H 8H9.

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