1 Definitions And Interpretation

1 In this Act:

• “assign” means the execution and performance by a person of every necessary or suitable deed or act for assigning, surrendering or otherwise transferring land of which the person is possessed, either for the person’s whole estate or for any less estate;
• “contingent right”, in relation to land, means a contingent or executory interest, a possibility coupled with an interest, whether the object of the gift or limitation of that interest or possibility is or is not ascertained, and a right of entry, whether immediate or future, and whether vested or contingent;
• “convey” in relation to a person, means the execution by that person of every necessary or suitable assurance for conveying or disposing to another land of or in which that person is seised or entitled to a contingent right, either for that person’s whole estate or for any less estate, together with the performance of all formalities required by law to validate the conveyance;
• “court” means the Supreme Court;
• “decree” means judgment;
• “devisee” includes the heir of a devisee and the devisee of an heir, and generally any person claiming an interest in the land of a deceased person, not as heir of the deceased person, but by a title dependent solely on the operation of the laws concerning devise and descent;
• “mortgage” is applicable to every estate, interest or property in land or personal estate that would in equity be considered merely a security for money;
• “possessed” is applicable to any vested estate less than a life estate, at law or in equity, in possession or in expectancy, in land;
• “securities” includes stock, debentures, bonds, shares and guaranteed trust or investment certificates;
• “seised” is applicable to any vested estate for life or of a greater description, and extends to estates at law and in equity, in possession or in futurity, in land;
• “stock” includes a share, stock, fund, annuity or security transferable in books kept by a company or society established or to be established, or transferable by deed alone, or by deed accompanied by other formalities, and a share or interest in it;
• “transfer” means the execution and performance of every deed and act by which a person entitled to stock can transfer the stock from the person to another;
• “trust” includes

• (a) implied and constructive trusts,
• (b) cases where the trustee has some beneficial estate or interest in the subject of the trust, and
• (c) the duties incident to the office of personal representative of a deceased person

• but does not include the duties incident to an estate conveyed by way of mortgage.

1979-414-1; 1995-12-28, effective November 10, 1995 (B.C. Reg. 468/95); 2023-10-1118.