CCQ-1991 - Civil Code of Québec

Section 2961.1 Disposition versions

2015-11-01

2961.1. The registration of reservations of ownership or rights of redemption, or of any transfer thereof, where it concerns a universality composed of movable property that is of the same kind and that may be sold or transferred in the ordinary course of business between persons who operate enterprises, preserves all the rights of the seller or transferee not only in that property but also in any property of the same kind for which reservations of ownership, rights of redemption or transfers between those persons are granted subsequent to the registration. However, such reservations, rights or transfers may not be set up against a third person who acquires any such property in the ordinary course of business of the seller’s enterprise.

The registration is effective for a period of 10 years; the period may be extended if the registration is renewed.

These rules also apply to the registration of rights of ownership under leasing contracts and of rights under leases with a term of more than one year, or of any transfer thereof, where the registration concerns a universality composed of movable property that is of the same kind and that may be the subject of such contracts in the ordinary course of business between persons who operate enterprises.

1998, c. 5, s. 13; I.N. 2014-05-01; I.N. 2015-11-01.

2014-05-01

2961.1. The registration of reservations of ownership or rights of redemption, or of any transfer thereof, where it concerns a universality composed of movable property that is of the same kind and that may be sold or transferred in the ordinary course of business between persons carrying on enterprises, preserves all the rights of the seller or transferee not only in that property but also in any property of the same kind for which reservations of ownership, rights of redemption or transfers between those persons are granted subsequent to the registration. However, such reservations, rights or transfers may not be set up against a third person who acquires any such property in the ordinary course of business of the seller’s enterprise.

The registration is effective for a period of 10 years; the period may be extended if the registration is renewed.

These rules also apply to the registration of rights of ownership under leasing contracts and of rights under leases with a term of more than one year, or of any transfer thereof, where the registration concerns a universality composed of movable property that is of the same kind and that may be the subject of such contracts in the ordinary course of business between persons carrying on enterprises.

1998, c. 5, s. 13; I.N. 2014-05-01.

1999-09-17

2961.1. The registration of reservations of ownership or rights of redemption, or of any transfer thereof, in respect of a universality of movable property of the same kind that may be involved in sales or transfers in the ordinary course of business between persons operating enterprises preserves all the rights of the seller or transferee not only in that property but also in any property of the same kind involved in reservations of ownership, rights of redemption or transfers between those persons subsequent to the registration. However, such reservations, rights or transfers do not have effect against a third person who acquires any such property in the ordinary course of business of the seller’s enterprise.

Registration preserves the rights for a period of 10 years; the period may be extended if the registration is renewed.

These rules also apply to the registration of rights of ownership under leasing contracts and of rights under leases with a term of more than one year, or of any transfer thereof, in respect of a universality of movable property of the same kind that may be involved in such contracts in the ordinary course of business between persons operating enterprises.

1998, c. 5, s. 13.