Quote:
Originally Posted by D W
I would imagine there is a "duty" that has to be paid. When it crossed the border it was personal property, but then it was sold. So, the personal property exemption becomes null and void.
You can't equate this to a real estate transaction where the "property" was terra firma located in the US.
I would strongly suggest you contact US Customs for the correct procedure.
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Terra firma or not, there are documents involved in the OP's transaction. One, the OP has a Canadian title, and two, the Canadian and US both have documented the TT across their borders.
As for my example, there were documents tied to Canada because it was real estate. Getting the money back into Canada is in common and is a real pain. We are trying to make sure the OP knows all of the ramifications on both sides of the border. One of them is the money exchange crossing the border.