Understanding the Prince Edward Island Lands Protection Act
AND
the land holdings that the person is leasing to another person or
corporation, up to the lesser of one-half the total number of acres of
arable land held by that person or 500 acres of arable land, shall be
excluded from his or her aggregate land holding; and
the land holdings that the corporation is leasing to a person or another
corporation, up to the lesser of one-half the total number of acres of
arable land held by that corporation or 1,500 acres of arable land, shall
be excluded from the corporation's aggregate land holding.
** Note - arable land is land on which a temporary agricultural crop (i.e., a crop that is comprised of annual or
biennial plants) is planted, or on which a temporary agricultural crop was planted at any time in the immediately
preceding four years. Non-arable land is land that is not arable.
Also other exclusions, succession period, termination on lease by default, etc.View entire presentation