Dealing with Dissolved Corporations

When an Ontario corporation is dissolved and owns assets on the date it ceases to exist, the company's assets are forfeit to the Crown. If the property is forfeited corporate property within the meaning of the Forfeited Corporate Property Act, 2015 (such as real property), the Ministry of Government and Consumer Services has authority to deal with this property on behalf of the Crown.  For more information, please contact:

Ministry of Government and Consumer Services
Realty Management Branch
777 Bay St., 2nd Floor, Suite 2300
Toronto, ON
M5G 2E5
416-326-5696
forfeitedcorporateproperty@ontario.ca
https://www.ontario.ca/page/forfeited-corporate-properties

If the property is not forfeited corporate property (e.g. personal property not located in, on or under forfeited land), the OPGT, on behalf of the Crown, may sell the property. Persons having a legal or moral claim may apply under the Escheats Act, 2015 for relief from forfeiture.  For more information, please call 1-800-366-0335 or in Toronto 416-314-2800.

Questions and Answers About Dissolved Corporations

Q. I am a director of an Ontario corporation that was dissolved. How do I recover the property of the corporation?

A. You may be able to apply for relief from forfeiture. If the property is forfeited corporate property within the meaning of the Forfeited Corporate Property Act, 2015 (such as real property), please call the Ministry of Government and Consumer Services, Realty Management Branch at 416-326-5696 for more information. If the property is not forfeited corporate property (e.g. personal property not located in, on or under forfeited land), please call the OPGT at 1-800-366-0335 or in Toronto at 416-314-2800 for more information.

Q. I recently discovered that, although I paid fair market value for my house, I never got a deed. The Ontario corporation from which I bought my house is now dissolved. What can I do?

A. You may be able to apply for relief from forfeiture. For more information, please call the Ministry of Government and Consumer Services Realty Management Branch at 416-326-5696.

Q. I am holding funds of an Ontario corporation that has dissolved, what can I do with these funds?

A. You may be able to pay these funds to the OPGT, on behalf of the Crown. For more information, please call 1-800-366-0335 or in Toronto at 416-314-2800.

Q. I am the director of an Ontario corporation that will be voluntarily dissolved and am holding funds payable to shareholders who cannot be located. What can I do with these funds?

A. You may be able to pay these funds to the OPGT, to hold in trust for the missing shareholders. For more information, please call 1-800-366-0335 or in Toronto at 416-314-2800.