HBP Condition - Person with a disability

Under the HBP, the home must be better suited to the needs of the disabled person or more accessible than his or her current home. Any of the following situations may apply:

• You are a person with a disability and you withdraw funds from your RRSPs under the HBP to buy or build a home.
• You withdraw funds from your RRSPs under the HBP to buy or build a home for a related person with a disability.
• You withdraw funds from your RRSPs under the HBP and give the funds to a related person with a disability to buy or build a home. 

Regardless of the situation, you are responsible for making sure that all applicable HBP conditions are met. If, at any time during your participation period, a condition is not met, your withdrawal will not be considered an eligible withdrawal and it will have to be included in your income for the year it is received.

You or the person with a disability have to enter into a written agreement to buy or build a qualifying house.

You must intend that the related person with a disability occupy the qualifying home as his or her principal place of residence.

You or the person with a disability have to buy or build the qualifying home before October 1 of the year after the year of the withdrawal.

Note
Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year.