Notice of Sale of Land by Public Tender

Sale of Land by Public Tender
Municipal Act, 2001
Ontario Regulation 181/03, Municipal Tax Sale Rules

Take Notice that tenders are invited for the purchase of the land described below and will be received until 3:00 p.m. local time on July 27, 2023 at Thorold City Hall, 3540 Schmon Pkwy, Thorold, ON., L2V 4A7.

The tenders will then be opened in public on the same day as soon as possible after 3:00 p.m. at Thorold City Hall, 3540 Schmon Pkwy, Thorold, ON., L2V 4A7.

Description of Land:

Roll No. 27 31 000 002 04200 0000; 100 WELLINGTON ST. N, THOROLD; PIN 64458-0077 (LT); LT 43

PL 895; PT LT 41 PL 895; PT LT 42 PL 895 AS IN RO178845; PT LT 44 PL 895; PT LT 48 PL 895; PT LT

49 PL 895; PT LT 50 PL 895; PT LT 51 PL 895; PT CYNTHIA ST PL 895 AS IN TT12313 EXCEPT RO610248; VILLAGE OF THOROLD; THOROLD;

File No. 23-01

According to the last returned assessment roll, the assessed value of the land is $562,000.

Minimum tender amount: $80,000

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, crown interests or any other matters, including any environmental concerns, relating to the land to be sold. Responsibility for ascertaining these matters rests with the potential purchasers. Any interests of the Crown encumbering the land at the time of the tax sale will continue to encumber the land after the registration of the tax deed. The assessed value according to the last returned assessment roll may or may not be representative of the current market value of the property. PLEASE NOTE: BUSINESS DEVELOPMENT BANK OF CANADA WILL REMOVETHEIR REGISTERED INTEREST UPON THE COMPLETION OF A SUCCESSFUL TAX SALE.

Pursuant to the Prohibition on the Purchase of Residential Property by Non-Canadians Act, S.C. 2022, c. 10, s. 235 (the “Act”), effective January 1, 2023, it is prohibited for a non-Canadian to purchase, directly or indirectly, any residential property, as those terms are defined in the legislation. Contraventions of the Act are punishable by a fine, and offending purchasers may be ordered to sell the residential property.

The municipality assumes no responsibility whatsoever for ensuring bidders/tenderers comply with the Act, and makes no representations regarding same. Prospective bidders/tenderers are solely responsible for ensuring compliance with the Act and are advised to seek legal advice before participating in this sale.

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 a copy of the prescribed form of tender, visit https://www.ontariotaxsales.ca/property/thorold-2023-07-27-23-01/ or contact the City of Thorold’s Tax Clerk at taxes@thorold.ca or 905-227-6613 x235.