Certificate of Non-Tenancy

We've received word that some condos now refuse to issue a Certificate of Non-Tenancy (CNT)–even if the unit was never leased out.

The admins advise the owner to submit an affidavit certifying that the unit was never leased out. But what if regulators refuse to accept the affidavit and insist on the CNT?

Lessons:

1. Before paying any money for a RE purchase, include the CNT in the required documents (together with the Certified Copy of the Title and Tax Declaration).

2. Be careful purchasing condos with admins who refuse to issue CNTs.

Suppose the seller submitted an affidavit to regulators in place of a CNT, regulators would assume you've leased out the property, and the sale will be subjected to VAT and income tax.