To hold a significant asset during his life, a person must in particular own a principal residence. Access to the property is well known to the public; the state has made it a priority since the 1950s.
In an effort to improve housing and living conditions in Canada, Canada Mortgage and Housing Corporation (CMHC) – a Crown corporation – was established in 1946. Succeeding Wartime Housing Corporation, it bore until 1979 the name of the Central Mortgage and Housing Company.
Its responsibilities include enforcing the National Housing Act.
The CMHC writes on this subject:
“CMHC’s raison d’être can be summed up as follows: to make housing affordable for everyone in Canada. We know that housing allows people to keep their jobs, do better in school and participate more fully in society. Affordable housing and a stable housing finance system serve as the foundation for a strong and secure Canada, where everyone lives in dignity.
Affordable housing for all is an ambitious goal, and we cannot achieve it alone. We are harnessing the know-how and energy of governments, nonprofits, lenders, developers, social entrepreneurs and cooperatives to shape the future of this sector. Canada's first-ever national housing strategy is a good example. Together, we are breaking down barriers and ensuring that no one is left behind. »
Access to property: today's challenge
An individual who succeeds in becoming an owner will see his life transformed in a few years. The current challenge, however, is to become one.
Access to property is very difficult because of the glaring lack of housing – a crying need not only in Canada, but all over the world. The world's populations, and Canada is certainly no exception, are growing at such a rate that building contractors cannot provide enough housing for them. Thus the number of residences does not suffice to accommodate all the individuals who would like to have access to a property.
Unfortunately, it is a matter of supply and demand that leads to increasingly expensive housing.
What is the solution ?
The Cooperative of Quebec Notaries is part of the solution. With the help of their partners, the members of the cooperative strive every day to allow, through their work, access to property for as many people as possible.
For example, mortgage refinancing, transfer of ownership and assignment of rights between people from the same family (or from the same group) can be carried out at a lower cost. Delays are quick and legal fees are the same for all regions of Quebec. It is also possible to sign these documents remotely, at no additional cost. In other words, no trip to the notary is to be expected!
To do business with the Coopérative de notaires du Québec, refer to its website (www.coopnq.ca) or ask your establishment to send your file there. The cooperative will do the rest of the journey with you.