27 June 1991 T.I. (Tax Window, No. 4, p. 30, ¶1319)

RC will not apply s. 146(10) or s. 207.1(1) if an RRSP acquires real property as a result of foreclosure of a mortgage that was qualified property as a consequence of the default of the mortgagor, provided that the trust deed disposes of the property within a reasonable period (such as one year).

RC will not apply s. 146(10) or s. 207.1(1) if an RRSP acquires real property as a result of foreclosure of a mortgage that was qualified property as a consequence of the default of the mortgagor, provided that the trust deed disposes of the property within a reasonable period (such as one year).