Source: Government of Canada regional news
On October 21, 2024, the Yukon Legislative Assembly unanimously passed Bill No. 42, the 2024 Act to Amend the Land Titles Act, 2015. The amendments passed in this legislation will help ensure that purpose-built affordable housing developments remain affordable over the long term through the use of statutory covenants.
A statutory covenant is an agreement attached to a land title that outlines obligations or restrictions that must be followed by the landowner. The covenants are “statutory” because they are set out in and can be enforced by law.
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