All of a deemed resident trust's property that is, at a given time:
- property contributed to the trust by a contributor that is a resident contributor at that time, or by a connected contributor, if the trust has, at that time, a resident beneficiary;
- property that is acquired, no later than at the given time, by a debt contracted by the trust, if
- all or part of the debt is secured by property that is included in the trust's resident portion,
- at the time the debt was contracted, it is reasonable to conclude that the debt will be repaid, at some time, with property included in the trust's resident portion,
- a person resident in Québec or a partnership of which a person resident in Québec is a member has an obligation, either absolute or contingent, to effect any undertaking (including a guarantee, covenant or agreement) to ensure the repayment, in whole or in part, of the debt, or has provided any other financial assistance in respect of the debt.