The purpose of the Foreign Ownership of Land Regulation, Alta Reg 160/1979, is to observe and control the amount of agricultural and recreational farm land acquired by non-Canadians. The Foreign Ownership of Land Regulation has only been discussed in passing in a handful of cases. As such, it can be difficult to navigate in practice. This paper provides an overview of the Foreign Ownership of Land Regulation and how it relates to the practical application of real estate transactions in Alberta. The author discusses a variety of issues, including controlled lands and persons affected, corporate entities and disclosure requirements, the process for reporting acquisitions and dispositions, penalties, exemptions, and foreign land ownership restrictions in other provinces. Furthermore, the author provides practice tips throughout the paper.
This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 – 26, 2016.