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MUNICIPAL ACT, 2001
SALE OF LAND BY PUBLIC TENDER
ONTARIO REGULATION 181/03, MUNICIPAL TAX SALES RULES
THE CORPORATION OF THE TOWN OF ESPANOLA
TAKE NOTICE that tenders are invited for the purchase of the lands described below and will be received until 3:00 p.m. local time on May 26, 2022, at the Town of Espanola, 100 Tudhope Street, Espanola, Ontario.
The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at the Town of Espanola, 100 Tudhope Street, Espanola.
Description of Land(s):
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Tenders must be submitted in the prescribed form and must be accompanied by a deposit of at least 20 per cent of the tender amount, which deposit shall be made by way of a certified cheque/bank draft/money order payable to the municipality.
Except as follows, the municipality makes no representation regarding the title to or any other matters relating to the lands to be sold. Responsibility for ascertaining these matters rests with the potential purchasers.
The assessed value, according to the last returned assessment roll, may or may not be representative of the current market value of the property.
Transfers of properties that contain at least one and not more than six single family residences and are transferred to non-residents of Canada or foreign entities, are subject to the Province’s Non-Resident Speculation Tax (NRST).
This sale is governed by the Municipal Act, 2001 and the Municipal Tax Sales Rules made under that Act.
The successful purchaser will be required to pay the amount tendered plus accumulated taxes and any taxes that may be applicable, such as a land transfer tax and HST.
The municipality has no obligation to provide vacant possession to the successful purchaser.
A copy of the prescribed form of tender is available on the website of the Government of Ontario Central Forms Repository under the listing for the Ministry of Municipal Affairs.
For further information regarding this sale and copy of the prescribed form of tender contact: