Third Session, Thirty-Eighth Legislature
This version is based on the printed bill that was distributed in the Legislature after First Reading. It is not the official version. If accuracy is critical, you can obtain a copy of the printed bill from Statutory Publications.
THE REAL PROPERTY AMENDMENT ACT
(Assented to )
HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows:
Section 110 is replaced with the following:
Where an agreement
(a) amends a registered mortgage to
(i) extend the period for repayment of the unpaid balance owing under the mortgage upon revised terms,
(ii) vary the description of the mortgaged land to add land to the lands already affected by the mortgage,
(iii) vary any other term of the mortgage, other than the description of the mortgaged land to remove land from the lands already affected by the mortgage,
(iv) add the name of a person as a covenantor under the mortgage, or
(v) correct an error made before the execution of the mortgage or in an amendment previously registered under this section; or
(b) amends a registered encumbrance to
(i) vary the description of the encumbered land to add land to the lands already affected by the encumbrance,
(ii) vary any other term of the encumbrance, other than the description of the encumbered land to remove land from the lands already affected by the encumbrance, or
(iii) correct an error made before the execution of the encumbrance or in an amendment previously registered under this section;
a memorandum of agreement in the form prescribed by regulation may be registered.
An agreement registered under subsection (1), other than an agreement that only adds a covenantor under a mortgage, must have endorsed on it or annexed to it the consent of all persons appearing on the register to have a claim or interest subsequent in priority to the mortgage or encumbrance, other than persons having a claim or interest described in section 141. Each consent must be accompanied by an affidavit of execution of a subscribing witness.
Upon the registration of an agreement under subsection (1), the terms of the agreement have the same force and effect as if embodied in and forming part of the mortgage or encumbrance, and have the same priority as the mortgage or encumbrance.
Subsection 143(3) is replaced with the following:
Any person who could have requested a taxation under subsection (1) may appeal the district registrar's decision to the Registrar-General by delivering a written notice to the Registrar-General's office, in a form satisfactory to the Registrar-General, within 30 days after the date that the decision is registered at the land titles office.
Subsection 156(3) is amended by striking out "giving the address or place within the province" and substituting "stating an address or place within Canada".
This Act comes into force on the day it receives royal assent.