Investment property question
I was doing some thinking on example situation:
- Person1 owns investment property in Ontario, he offers 60% to Person2.
-P2 wants put his name on Title and get a mortgage for a full price of property using Person's1 40% as a downpayment.
Question: is forming a Trust will help to deal with Land transfer fee?
PS. Legal relationship between P1 and P2 is out of equation.
- Person1 owns investment property in Ontario, he offers 60% to Person2.
-P2 wants put his name on Title and get a mortgage for a full price of property using Person's1 40% as a downpayment.
Question: is forming a Trust will help to deal with Land transfer fee?
PS. Legal relationship between P1 and P2 is out of equation.