WHAT ARE MY COSTS AFTER I TAKE POSSESSION OF MY NEW COTTAGE?
After you take the title of your new cottage, you would be responsible for the usual costs associated with home ownership.
DO I HAVE TO PAY TAX IF I WIN A COTTAGE?
If a real estate prize winner is not a Canadian citizen, permanent resident, or otherwise exempted from Ontario’s Non-Resident Speculation Tax (NRST), the winner will be responsible for payment of the NRST.
WHAT ABOUT LAND TRANSFER TAXES? REAL ESTATE FEES? LEGAL FEES?
We want our cottage winners to be happy, so land transfer taxes, real estate fees and legal fees for title transfer are paid for by the Princess Margaret Cottage Lottery.
DO I HAVE TO LIVE IN THE HOME FOR A YEAR IF I WIN IT?
No. The moment you take title of your new cottage, it’s yours to do with as you wish.