Are you a party to a “prête-nom” or nominee agreement? These are commonly used in real estate transactions to register property in the name of a nominee corporation, which holds legal title only, with the beneficial ownership retained by the true owner(s). Nominee corporations are often used to collect rent and pay expenses, or to acquire family assets such as a residence.
Revenu Québec recently introduced new rules requiring the disclosure of all nominee agreements. Sharon G. Druker and Geneviève Goulet explain this new requirement.
Click here to read more (PDF).
