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The Lay of the Land DEVELOPMENTS IN CANADIAN REAL PROPERTY LAW

Tag Archives: Personal Property Security Act

How the Forfeited Corporate Property Act, 2015 Affects Ontario Corporations and Not-for-profit Corporations

Posted in Land Use, Policy

On December 10, 2016, the Forfeited Corporate Property Act, 2015 (the “FCPA”) came into force in Ontario. This statute addresses what happens to property that is not distributed by an Ontario corporation prior to its dissolution.  It also amends the Business Corporations Act (Ontario) (the “OBCA”) and the Corporations Act (Ontario) (the “OCA”) to include a requirement for corporations to maintain a register of ownership interests in land in Ontario. Corresponding amendments were also made to the Not-for-Profit Corporations Act (Ontario) (the “ONCA”), which has not yet come into force.… Continue Reading

What real estate lenders need to know about the coming amendments to the PPSA (Ontario)

Posted in Policy

On December 31st, 2015, amendments to the conflict of laws provisions in the Personal Property Security Act (Ontario) (the “PPSA”) which have been on the books since 2006 will become effective. As a real estate lender, these changes will have implications for your security interests in intangible assets, mobile goods, negotiable instruments and investment property. … Continue Reading