What kind of properties can RRSPs invest in?
A. Mortgages must be placed on Real Property that is, residential or commercial property located in Canada registered at a Land Titles Office. Some property types such as mobile homes, boats, leasehold land, co-ops and the like, (typically called Chattel Mortgages) are NOT eligible to be a qualifying investment under the Income Tax Act. Agreements For Sale also do not qualify. And, the mortgagee (lender) and mortgagor (borrower) must be at arms length as described above.
