Bijural Terminology Records

Common Law

holder

Civil Law

holder

Title of the Legislative Text

Bankruptcy and Insolvency Act, R.S., c. B-3

Provision

  74. (2) Where a bankrupt is the registered owner of any land or charge, the trustee, on registration of the documents referred to in subsection (1), is entitled to be registered as owner of the land or charge free of all encumbrances or charges mentioned in subsection 70(1).

Problem

In both common law and civil law, the terms "owner/propriétaire" are inappropriate when used with the terms "charge/charge" . With respect to security, the appropriate terms are "holder/détenteur" .

Solution

In the English version, the term "holder" is added. In the French version, the term "détenteur" is added.

Harmonized Provision

  74. (2) If a bankrupt is the registered owner of any real property or immovable or the registered holder of any charge, the trustee, on registration of the documents referred to in subsection (1), is entitled to be registered as owner of the real property or immovable or holder of the charge free of all encumbrances or charges mentioned in subsection 70(1).

Federal Law-Civil Law Harmonization Act, No. 2, S.C. 2004, c. 25, s. 47.

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