68.6. Every low-rental housing immovable within the meaning of section 68.1 is, by operation of law, encumbered with an administrative encumbrance for the protection of low-rental housing which shall subsist after the expiration of the operating agreement between the owner and the Société. The administrative encumbrance imposes on the owner the obligation to retain the immovable and prohibits him from changing its destination; it is subject to publicity and may be set up against third parties by the registration of a notice to that effect in the land register. The Société may, however, grant release of the administrative encumbrance by means of a notice.
The application for registration of the notice granting release of the encumbrance removes the owner’s obligation to obtain the authorization required by section 68.1 and extinguishes the Société’s right of pre-emption.
1991, c. 62, s. 3; 1999, c. 40, s. 273.