D-15.1 - Act respecting duties on transfers of immovables

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4.1. A transferee exempt from the payment of transfer duties under subparagraph a or a.1 of the first paragraph of section 19 in respect of the transfer of an immovable is required to pay the transfer duties that would have been otherwise payable in respect of the transfer if, at a particular time in the 24-month period following the date of the transfer,
(a)  in the case of a transfer referred to in subparagraph a of that first paragraph, the percentage of voting rights that may be exercised by the transferor under any circumstances at the annual meeting of shareholders of the transferee falls below 90%; or
(b)  in the case of a transfer referred to in subparagraph a.1 of that first paragraph, the transferor’s share in the transferee’s profits or losses falls below 90%.
A transferee exempt from the payment of transfer duties under subparagraph d of the first paragraph of section 19 in respect of the transfer of an immovable is required to pay the transfer duties that would have been otherwise payable in respect of the transfer if, at a particular time in the 24-month period following the date of the transfer, the transferor and the transferee that are parties to the transfer cease to be closely related legal persons.
Where the transferor referred to in the first paragraph dies in the 24-month period following the date of the transfer of the immovable, the first paragraph is to be read as if “at a particular time in the 24-month period following the date of the transfer” were replaced by “at a particular time in the period preceding the date of the transferor’s death and following the date of the transfer”.
The transferee who is required to pay transfer duties under the first or second paragraph in respect of the transfer of an immovable may be so required only once in the 24-month period referred to in that paragraph.
2017, c. 1, s. 27; 2019, c. 142019, c. 14, s. 34.
4.1. A transferee exempt from the payment of transfer duties under subparagraph a of the first paragraph of section 19 in respect of the transfer of an immovable is required to pay the transfer duties that would have been otherwise payable in respect of the transfer if, at a particular time in the 24-month period following the date of the transfer, the percentage of voting rights that may be exercised by the transferor under any circumstances at the annual meeting of shareholders of the transferee falls below 90%.
A transferee exempt from the payment of transfer duties under subparagraph d of the first paragraph of section 19 in respect of the transfer of an immovable is required to pay the transfer duties that would have been otherwise payable in respect of the transfer if, at a particular time in the 24-month period following the date of the transfer, the transferor and the transferee that are parties to the transfer cease to be closely related legal persons.
Where the transferor referred to in the first paragraph dies in the 24-month period following the date of the transfer of the immovable, the first paragraph is to be read as if “at a particular time in the 24-month period following the date of the transfer” were replaced by “at a particular time in the period preceding the date of the transferor’s death and following the date of the transfer”.
The transferee who is required to pay transfer duties under the first or second paragraph in respect of the transfer of an immovable may be so required only once in the 24-month period referred to in that paragraph.
2017, c. 1, s. 27.