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C-75 - Farm Credit Act

Section 54
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Full text
54. Every person in continuous, peaceable, public and unequivocal possession and as owner, himself or through his auteurs, for at least ten years, of an immoveable situated in the counties of Bonaventure, Gaspé-Nord, Gaspé-Sud and the Îles-de-la-Madeleine, shall, for the purposes of this Division, be deemed the owner of such immoveable and may validly hypothecate it, as security for any loan granted in virtue of this Division by the Bureau or by a Credit Union.
Such hypothec shall have priority of rank over every other privilege and every other hypothec burdening such immoveable.
R. S. 1964, c. 108, s. 40.
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