19 May 1998 External T.I. 9805155 - FEDERAL ESTATE TAX RELEASE

Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.

Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.

Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.

Principal Issues:

Is a Federal Estate Tax release required if a prior owner of a property died before 1972 ?

Position:

No

Reasons:

Department will not provide such “consents” and will not institute any proceedings for failure to obtain such “consents”.

XXXXXXXXXX 		                                              	980515
C. Tremblay

Attention:  XXXXXXXXXX 

May 19, 1998

Dear Sirs:

This is in reply to your facsimile letter of February 26, 1998, and is further to our letter of February 18, 1998, requesting whether a Federal Estate Tax Release is required if a prior owner of a property died prior to January 1, 1970.

Revenue Canada no longer enforces compliance of the Estate Tax Act which required the obtaining of “Consents” to transfer property of the estate.

We trust our comments will be of assistance to you

Yours truly,

for Director,
Business and Publications Division
Income Tax Rulings and
Interpretations Directorate
Policy and Legislation Branch