A-4.1 - Act respecting the acquisition of farm land by non-residents

Section 33 Disposition versions

1994-01-01

33. This Act does not apply where a non-resident becomes the owner of farm land by the exercise of a right to take in payment if

(1)  his principal business is making loans on real security;

(2)  (subparagraph repealed);

(3)  the farm land is not repossessed following one or more operations mainly intended to elude the application of this Act.

Similarly, this Act does not apply where a non-resident becomes the owner of farm land under a resolutive clause or by the exercise of a right to take in payment if

(1)  he is the vendor of the land and has not received payment for it; or

(2)  the act or acts granting him the right to become owner under a resolutive clause or by the exercise of a right to take in payment was or were registered according to law before 21 December 1979.

1979, c. 65, s. 33; 1992, c. 57, s. 429.

1979-12-21

33. This act does not apply where a non-resident becomes the owner of farm land by a giving in payment if

(1)  his principal business is making loans on real security;

(2)  the farm land is repossessed under a clause in the deed of security; and

(3)  the farm land is not repossessed following one or more operations mainly intended to elude the application of this act.

Similarly, this act does not apply where a non-resident becomes the owner of farm land under a resolutive clause or by a giving in payment if

(1)  he is the vendor of the land and has not received payment for it; or

(2)  the act or acts granting him the right to become owner under a resolutive clause or by a giving in payment was or were registered according to law before 21 December 1979.

1979, c. 65, s. 33.