Hi thanks JaG, I know that you have a ton of knowledge about this so I appreciate you chiming in.I’ve never heard of this from any of m lawyers. As for financing with a corporation you’re also getting bad advice, I’ve got a holdco for most of my properties and I get residential financing for my properties. You only get into corporate loans when you get too many properties.its the number of properties, not the name on the title that matters there. I think you need to seek better advisors
I'm not really questioning the existence or misrepresentation of the "merge" law. I'm confident that that is the case for the properties that I'm buying. fireseeker had the same experience, the RFD link also verifies that that law also applied to them. My RE agent and mortgage broker was also familiar with the rule. Although on the RFD link it also explained that it doesn't apply to all parcels. subdivisions or condos does not get affected. or maybe newer registered or recently land divided have circumvented that issue but may since this is an older part of town. I really do not understand it fully. it is lunatic as MP says. Old town city hall, maybe that is why can't tell you but I'm certain that that is indeed the situation. I do trust my lawyer.
NOW my mortgage broker on the other hand, about the holding company. It is possible that she is either hesitant or she is lazy to try to put my corp name or any numbered company. Nonetheless, time is not on my side. My revocable date is close approaching (past actually) I need to decide quickly. This post is more of a desperate cry to sway my decision one way or the other or a miraculous brilliant way to side step the issue. I would like to pick your brain on that notion when I have more time to execute a long term solution.