Bill 40 — Second Session, 18Th Legislature, 25 Elizabeth Ii the Legislative Assembly of Alberta Bill 40 the Bills of Sale Amendment Act, 1976 Th.E Attorney General (Legislature 18, Session 2)

L18 S2 5612

Alberta — Bills

1976 Bill Second Session, 18th Legislature, 25 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL THE BILLS OF SALE AMENDMENT ACT, 1976 TH.E ATTORNEY GENERAL First Reading Second Reading ............................ . Third Reading ........................... .. Printed by the Queen's Printer for the Province of Alberta, EDMONTON Bill BILL THE BILLS OF SALE AMENDMENT ACT, 1976 (Assented to , 1976) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1. The Bills of Sale is hereby amended. 2. The following

section is added after

section 13. 13.1 Where any chattel that is the subject of a mort· gage becomes, after registration of the mortgage, affixed to realty, the chattel remains subject to the mortgage and is not realty, but the owner or purchas'er of the realty, or a mortg,agee or encumbrancee of the realty, has the right, as against the grantee or a person claiming through or under him, to retain the chattel on payment of the amount due and owing under the registered mortgage. 3. This Act comes into force on the day upon which it is assented to. Explanatory Notes I. This Bill will amend

chapter of the Revised Statutes of Alberta 1970. 2. The new

section 13.1 will provide protection to persons lend .ing money on the security of a chattel (e.g., a mobile home) which later becomes affixed to land. The protection is similar to that ·given under

section of The Conditional Sales Act. Title: 1976 (18th, 2nd) Bill 40, The Bills of Sale Amendment Act, 1976

Document details

Collection	Alberta — Bills
Citation	L18 S2 5612
Type	bill
Volume / chapter	L18 S2 5612
Language	en
Format	json
Source	PROVINCIAL
Identifier	525a95fa90f5aa5353da234f4a8c992e223ee8d1

Source file is stored in the law ingest library (json).