Facts

Islanders are Homeowners With Limited Rights

  • Island residents own their homes and lease the publicly owned lots from the Toronto Island Land Trust, which administers the provincial legislation called The Toronto Island Residential Stewardship Act (as amended, 1996)
  • Islanders paid $36,000 and $46,000 for their lot leases, which run until 2092.
  • The purchase and sale of the homes are strictly regulated to prevent speculation and windfall profits on public land.
  • Island homeowners may not bequeath or otherwise pass on their homes to anyone other than spouses and children. If homes are not passed on to spouses or children Islanders cannot chose to whom they will sell their homes. Sales are regulated by the Island Trust, which oversees a public list whereby buyer and seller do not meet.