D-13.2 - Succession Duty Act

Section 56 Disposition versions

1978-12-22

56. Until the disposal permit mentioned in section 55 has been delivered with regard to any property, no executor, trustee, administrator, curator or beneficiary may consent to the transfer of that property, and,

(a)  if the property consists of shares, bonds or other securities of a corporation, no person may accept or enter, in the books of the corporation, a transfer of those shares or registration of those bonds or other securities;

(b)  if the property consists of money deposited in the personal account of a deceased person or a joint account, no debtor or depositary may remit it or transfer it to another person;

(c)  if the property consists of titles, moneys, securities, documents or articles of any kind belonging to a deceased person, no holder, depositary or debtor, in any capacity, of or for that property may effect the surrender, delivery, payment, exchange or transfer thereof;

(d)  if the property consists of an immoveable belonging to a deceased person at the time of his death or of a debt affecting an immoveable by privilege or hypothec in his favour, no registrar may register the transmission or discharge thereof and the disposal permit must, before registration is made, be deposited in the office of the registrar to be kept therein and, except in the case of cancellation of real rights, noted in the index of immoveables;

(e)  if the property is an amount due by an insurer upon or owing to a death, that insurer cannot make a valid payment of it.

1978, c. 37, s. 56.