I-3 - Taxation Act

Section 484 Disposition versions

2006-03-01

484. In this division,

“creditor” of a particular person includes a person to whom the particular person is obligated to pay an amount under a hypothecary claim, mortgage or similar obligation and, where property was sold to the particular person under a conditional sales agreement, the seller of the property, or any assignee of the obligation with respect to the agreement;

“debt” includes an obligation to pay an amount under a hypothecary claim, mortgage or similar obligation or under a conditional sales agreement;

“person” includes a partnership;

“property” does not include any sum of money, or debt owed by or guaranteed by the government of a country, or a province, state, or other political subdivision of that country;

“specified amount” at any time of a debt owed or assumed by a person means the unpaid principal amount of the debt at that time and unpaid interest accrued to that time on the debt.

1972, c. 23, s. 384; 1984, c. 15, s. 103; 1993, c. 16, s. 195; 1996, c. 39, s. 138; 1997, c. 3, s. 71; 2005, c. 1, s. 111.