Ask Allan Forum
Get expert answers to your tax questions straight from Allan, our owner and experienced CPA. It’s free, direct, and designed to help you make the best decisions when it comes to your taxes.
I created a purchase agreement with my grandmother to purchase her restaurant and property in the amount of $500,000 paid monthly over 13 years. I created an Ontario Corporation for the agreement. I am the majority shareholder. 6 months later I had my grandmother sign the documents allowing me to put my name on title of this property. Was this legal?
Hi,
You should consult with an attorney regarding the legality of the contract. At a minimum, your grandmother should have received independent legal advice.
