The Impact of the September 30th Holiday on Real Estate Closings
National Day for Truth and Reconciliation
Bob Aaron, Toronto real estate lawyer and contributing columnist to the Toronto Star, has a comprehensive column on the impacts of this new holiday on real estate deals originally scheduled to close on September 30th.
Things you need to know
The holiday applies to all federally regulated public and private workplaces, including banks.
The holiday will not apply to provincial institutions, such as land registry systems. (Note: Bob confirms this for Ontario. Our own review of the ALTO (Alberta), ISC (Saskatchewan), and Property Online (Nova Scotia) websites did not find any mention of closures on September 30th. The Teranet Manitoba and LTSA (BC) offices will be closed, with myLTSA online services available.)
Because of financial institution closures, most closing dates will need to be moved to the 29th.
You can also read more at the National Centre for Truth and Reconciliation.