Canada & Ontario mortgage rule watch
See verified rules, programs and important dates without confusing a regulator’s role with an individual lender’s approval policy.
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144 published items match this view. We prioritize the effective date, then the announcement or last-update date.
Usually not until authority, ownership and the lender’s requirements are clear. A will names an executor, but an estate certificate may still be needed to prove authority to deal with land or obtain financing.
The tax is based on the value of the estate for which an estate certificate is requested. Ontario allows an encumbrance such as a mortgage or lien to be deducted from Ontario real-property value,…
No. Ownership registration and the promise to repay are separate. A title transfer does not automatically release a borrower from the mortgage; the lender must approve a covenant release, replacement financing or discharge.
Not automatically. Moving out does not by itself change registered title, release a borrower from the mortgage or settle the married spouses’ matrimonial-home rights. Written agreements, lender approval and registered documents may all be…
Generally, no—not simply because only one spouse is on title. Ontario’s Family Law Act restricts a spouse from disposing of or encumbering an interest in a matrimonial home unless the other spouse joins, consents,…
No. CRA’s rollover rules may defer a capital gain on certain transfers to a spouse or common-law partner, but they do not approve the mortgage, release a borrower or settle Ontario land transfer tax.
No. Ontario provides specific exemptions for qualifying transfers between spouses or former spouses, but marriage by itself does not make every transfer tax-free. The consideration and the legal reason for the transfer still matter.
Yes. Taxable short-term accommodation can create GST/HST registration, collection and input-tax-credit issues, and a change in commercial use can affect the later sale of the property.
Deductibility generally follows the current use of the borrowed money—not simply the property used as collateral. Clear tracing, a legal obligation to pay interest and an eligible income-earning purpose are central.
Yes. CCA may reduce current rental income, but a later sale can produce recapture, and prior CCA can prevent certain principal-residence change-of-use elections.
Not automatically. CRA examines whether the income-producing use is ancillary, whether there was a structural change and whether CCA was claimed. A more substantial partial conversion can create change-of-use consequences.
Potentially. A subsection 45(3) election may defer the deemed disposition when an income-producing property becomes a principal residence, but prior CCA claims can make the election unavailable.
Potentially. A subsection 45(2) election can defer the deemed disposition that normally occurs when a principal residence becomes an income-producing property, but conditions and future consequences matter.
Generally, at least 12 months must pass after the tenancy begins or the last lawful increase, and the landlord must give at least 90 days’ written notice using the proper form.
A rent deposit is generally limited to the lesser of one month’s rent and one rental period. It must be used for the last rental period, and the landlord generally owes annual interest at…
Rental income is not handled by one universal percentage. Many A lenders use conservative add-back or offset worksheets; alternative/B lenders may recognize more rental cash flow; MIC and private decisions can place more weight…
For an eligible insured two-to-four-unit non-owner-occupied property, CMHC describes gross-rent and net-rental-income approaches. The result depends on the method, expenses and the complete application—not rent alone.
Potentially. Under CMHC’s insured-mortgage approach, up to 100% of gross rental income may be considered for an owner-occupied two-unit property, subject to the insurer’s and lender’s full requirements.
How to read this centre
Sets laws, program requirements or prudential boundaries. FSRA regulates; it does not write every lender’s underwriting policy.
Applies only when the mortgage or client fits that insured product or program. It should not be generalized to every conventional deal.
Decides its own acceptable income, property, credit and exception policy inside the applicable rules.
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