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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.: I; H/ l" i5 o$ P! p
+ D2 K$ E" O z) c7 kWhat Kinds of Interests in Land Are Restricted?# T7 J% Z0 B# J- F# E% W' m0 O* |
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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