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The Regulations accomplish this intent by restricting the ownership of private land located outside of a city, town, village, or summer village (which the Act defines as controlled land) by foreign-controlled corporation and non-Canadian individuals, subject to certain exceptions and exemptions.( _. Z+ z6 T, Q% q+ X4 y
7 j Y! C2 K4 M# }What Kinds of Interests in Land Are Restricted?! B6 r. g8 P2 M3 c& V9 I; ]
The Regulations prohibit a foreign-controlled corporation or ineligible person from acquiring, directly or indirectly, an interest in controlled land which consists of more than two parcels, containing more than 20 acres in total. |
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