PMQ and Property Ownership Restrictions...

[MasterInstructor]

Are there any property ownership restrictions that might affect getting a BMQ?

I am interested in living in a PMQ for the time being but I own2 properties in another city and I am planning on buying another one where I am, as an investment...

cheers

 

[George Wallace]

There is no restriction on you owning "Income Property(ies)".  It is your "Primary Residence" that is in question.  If you are making a move from "Pt A" to "Pt B" (a PMQ), then you require a Primary Residence, not one of your "Income Properties", to move from.  If you want to rent your Primary Residence in your former location, rather than sell it, that will affect your IRP entitlements.  You should talk to your financial advisor, perhaps your Lawyer, and then of course the IRP people to clarify all the rules and regulations. 

 

[MasterInstructor]

Thanks George, I researched about the move part etc. I know how it effects everything else.

I was concerned about the PMQ eligibility and seems like it wont affect it.

cheers