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CCQ-1991 - Civil Code of Québec

Section 1263
Disposition versions

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1263. A trust established by onerous contract may have as its object the guarantee of the performance of an obligation. In that case, to be set up against third persons, the trust must be published in the register of personal and movable real rights or in the land register, according to the movable or immovable nature of the property transferred in trust.
Upon the default of the settlor, the trustee is governed by the rules regarding the exercise of hypothecary rights set out in the Book on Prior Claims and Hypothecs.
1991, c. 64, a. 1263; 1998, c. 5, s. 1; I.N. 2014-05-01; 2016, c. 4, s. 157.
1263. The purpose of an onerous trust established by contract may be to secure the performance of an obligation. In that case, to be set up against third persons, the trust must be published in the register of personal and movable real rights or in the land register, according to the movable or immovable nature of the property transferred in trust.
Upon the default of the settlor, the trustee is governed by the rules regarding the exercise of hypothecary rights set out in the Book on Prior Claims and Hypothecs.
1991, c. 64, a. 1263; 1998, c. 5, s. 1; I.N. 2014-05-01.
1263. The purpose of an onerous trust established by contract may be to secure the performance of an obligation. If that is the case, to have effect against third persons, the trust must be published in the register of personal and movable real rights or in the land register, according to the movable or immovable nature of the property transferred in trust.
In case of default by the settlor, the trustee is governed by the rules regarding the exercise of hypothecary rights set out in the Book on Prior Claims and Hypothecs.
1991, c. 64, a. 1263; 1998, c. 5, s. 1.
1263. If the object of a trust by onerous title established by contract is to secure the performance of an obligation, the trustee shall, in case of default by the settlor, follow the rules in the Book on Priorities and Hypothecs for the exercise of hypothecary rights.
1991, c. 64, a. 1263.
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