79034 Sale by Chargee - Lien under Corporations Tax Act

Bulletin information:

Issue Date: September 25, 1979
Legislation: The Corporations Tax Act

Bulletin content:

Chapter 3 of The Land Titles Procedural Guide dealing with “Sale Papers” indicates that certain encumbrances (e.g., mechanics’ liens, notice of security interest, etc.) registered after the registration of a Charge under which a power of sale is being exercised will not be deleted from the parcel registered.

In addition to the qualifications set out in that chapter, a Notice of Lien under The Corporations Tax Act registered subsequent to the charge should not be deleted upon the registration of the transfer under the power of sale.

In order for such a Notice to be deleted from the parcel register, a discharge obtained from the Corporations Tax Branch of the Ministry of Revenue must be registered.

Original signed by:

M. D. Godfrey, Senior Solicitor and Assistant Deputy Director of Titles