12. This agreement is binding on and for the benefit of the parties and their respective beneficiaries and beneficiaries. All existing agreements in which the tax consequences of the transaction or series of transactions are still valid on May 16, 2019 or after May 16, 2019 must be notified to Revenue Quebec by September 16, 2019. AND it was agreed between Nominee and Owner, at the owner`s request and for convenience, that the country in question would be registered for the time being in the name of the nomine and that the nominee would be a candidate for the owner under the following conditions and conditions, the country in question and all related rights and interests (including, but not limited to contracts and other documents such as mortgages, fees, reliefs, rents, licenses and statutes), landlords may occasionally give in to nominee (these neighbouring lands and rights and interests are collectively considered “real property”), Nominee himself has no economic interest in the property; If you participate or plan to enter into one, our specialized tax group is available to discuss your disclosure obligations and the associated tax consequences of your specific nominating agreement. Therefore, nominatable agreements concluded after May 16, 2019 must be filed with Revenue Quebec no later than 90 days after the conclusion of the nominating agreement and are independent of the reason for the Nominee agreement. 10. Each of the parties undertakes to provide from time to time, as necessary and necessary, all acts and other acts and other acts and assurances necessary to carry out and carry out the true purpose of this Agreement. Individuals or companies acting as a nominee must be compensated for the potentially harmful acts of the person who actually runs the business. The agreement is generally referred to as a compensation obligation and signed by those who purchase the company`s nominary services. Although there is a standard compensation obligation, they can sometimes be amended to include or exclude certain activities that one or both parties may require.
If a Nominee agreement is not disclosed within the prescribed timeframe (i.e. 90 days, or before September 16, 2019), the statute of limitations for the tax consequences of a transaction or series of transactions that took place this year and are part of the Nomine agreement is virtually suspended. In real estate, the Nominee contract can effectively transfer the legal ownership of a property to another person. The agreement also explains what can happen to the property and how to manage the benefits and responsibilities of that property. It can also indicate when or under what circumstances the property can be returned to the original part. As a general rule, ownership is not given indefinitely to the other person. (3) Nominaise excludes all these instruments, including, but not exclusively, all these documents, disposals, assignments, leases, subletting, assignments and assignments of leases, and as a nominee for the owner, and executes them in nomine, including, but not limited to, these documents, Disposals, mortgages, fees, assumptions, easements, facilities, licences, privileges, management contracts, personal asset guarantee contracts and other agreements (collectively called “instruments”) as may be required from time to time by the owner in relation to the property, including without limitation of the universality of transport and transfer in the form of securities and/or other securities, securities and interest governed by the interested party. A Nominee agreement is often used in real estate transactions involving multiple parties and the anonymity of the real owner is important, for example. B for property protection, financing transactions and investment secrecy.