How long must an owner-owner occupied remain owner-occupied?
How long must an owner-occupied remain owner-occupied in Ontario, Canada? I'm looking online and through my mortgage documents again. I don't see any indication of a minimum amount of time an owner-occupied property must remain owner-occupied.
Is there a particular document that should tell me, like what a 'deed of trust' would show in the states (I think)?
I'm seeing 12 months being thrown around by posters south of the border, I'm looking for something specific to Ontario. Any ideas short of calling the lending party and asking?
Most Popular Reply
I asked my real-estate lawyer this question two years ago. He is located in Niagara Falls, Ontario. His response was that I could move out any moment after I own the property and that's what I did. There is no minimum and there is nobody who cares to check up on it. You must have (or atleast fake) the intention of moving in when you are signing the papers and that's it.