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CCQ-1991 - Civil Code of Québec
Section 2386
Disposition versions
2386. The non-payment of the annuity is not a reason which permits the annuitant to demand recovery of the capital alienated for the constitution of the annuity; it only allows him, beyond demanding payment of the amount owing, to seize and sell the property of the debtor and obtain consent to, or require an order for, the use of an amount, from the proceeds of the sale, sufficient to ensure payment of the annuity, or to require that the debtor be replaced by an authorized insurer.
Payment of the capital may be required, however, if the debtor becomes insolvent or bankrupt or decreases, by his act or omission and without the consent of the annuitant, the security he has furnished to secure the payment of the annuity.
2386. The non-payment of the annuity is not a reason which permits the annuitant to demand recovery of the capital alienated for the constitution of the annuity; it only allows him, beyond demanding payment of the amount owing, to seize and sell the property of the debtor, and to require or order the use of an amount, from the proceeds of the sale, sufficient to ensure payment of the annuity, or to require that the debtor be replaced by an authorized insurer.
Payment of the capital may be required, however, if the debtor becomes insolvent or bankrupt or decreases, by his act and without the consent of the annuitant, the security he has furnished to secure the payment of the annuity.
2386. The non-payment of the annuity is not a reason to permit the annuitant to demand recovery of the capital alienated for the constitution of the annuity; it only allows him, beyond demanding payment of the amount due, to seize and sell the property of the debtor, and to require or order the use of a sufficient amount, from the proceeds of the sale, to ensure payment of the annuity or to require that the debtor be replaced by an authorized insurer.
Payment of the capital may be required, however, if the debtor becomes insolvent or bankrupt or decreases, by his act and without the consent of the annuitant, the security he has furnished to ensure the payment of the annuity.
