co-owned property for a non-resident

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orkide_Minoo
Posts: 2
Joined: Sat Mar 30, 2013 6:32 pm

co-owned property for a non-resident

Post by orkide_Minoo »

I am a Canadian resident and have moved to US under H1 visa. I own a condo in Canada and used to live there with my sister when I was resident of Canada. My sister still lives there. I don't receive any rent from her, but am worried CRA will not accept this and consider it as a tie to Canada.

If I go to notary and add my sister as co-owner, would that help me? I will still be the sole person to pay the mortgage.

For a co-owned property when one owner is resident and the other is non-resident, what would happen if they decide to sell it?

Are they going to pay annual property and school taxes with resident rates or non-resident rates?
iliana_2
Posts: 1
Joined: Tue Aug 06, 2013 12:03 am

Post by iliana_2 »

There are lots of formalities that we have to do for investing in property if you are not a residential. The koh samui agents helped me lot to get property.
http://www.samuipropertyonline.com/
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