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    Property Transfer Agreement | Canada


    Set out the terms of a transfer of depreciable property as part of the sale of a business with this Canada Property Transfer Agreement.

    • The parties agree that the property is being transferred at fair market value.
    • The purchaser agrees to issue shares in its capital stock to the seller and assume any outstanding encumbrances on the property as payment of the purchase price.
    • The parties agree to make a joint Section 85(1) election under the Income Tax Act (Canada).
    • The parties mutually indemnify each other with respect to the transfer.
    • The agreement sets out the manner of arriving at an agreed amount for depreciable property subject to subsection 85(5.1) of the Act, and eligible capital property subject to subsection 248(1).
    • The parties intend that the purchase price for the assets be an amount equal to the fair market value of the assets at the date of the agreement.
    • This template is available in MS Word format, and is fully editable to fit your circumstances.
    • This legal document is governed by Canadian tax laws.
    Download Type: Microsoft Word
    Last Updated: 19-March-2021
    SKU: 581