BD-81.1-V(2014-05). Claim by Owner of Property-2025

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After a designated period of time (called the dormancy period) with no activity or contact, the property becomes unclaimed andby lawmust be turned over to the state.
Purchasing an abandoned or unclaimed property involves following the same procedures as buying any other piece of real estate. Before setting out on your journey to find an abandoned home, review your financial situation.
A Comprehensive Loss Underwriting Exchange (CLUE) report contains detailed information regarding homeowners insurance claims on a particular property within the past seven years. These claims information reports are generated by a consumer reporting agency called LexisNexis.
The purpose of this Act is to facilitate the recovery of unclaimed property by right-holders and to ensure that property without an owner or property in respect of which the right-holders remain unknown or untraceable is delivered to the State.
Quebec generally requires holders to report property that has been dormant for three years. Due diligence is required between three and six months before the reporting deadline for property valued at $100 or more. Holders must file their reports within three months following the end of their fiscal year.
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0:14 1:14 However this process can be complicated. And may require legal assistance.MoreHowever this process can be complicated. And may require legal assistance.

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