Bankruptcy And Insolvency Act (Canada)

Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, s. 74(3)

• Nature of Instrument: Caveat.
• Filed by or in Favour of: A trustee in bankruptcy, where a copy of the receiving order or assignment under the Act has not, for any reason, been registered against land or a charge which the bankrupt owns or in which the bankrupt has or is believed to have any interest or estate.
• Effect of Registration: Any registration made in respect of the land or charge after the filing of the caveat is subject to the caveat unless the caveat has been removed or cancelled under the provisions of the Land Title Act.
• Failure to File: If the registrar knows that a registered owner is bankrupt, but the trustee in bankruptcy has not lodged a caveat under s. 74(3), the registrar, in the event of an application for registration of a dealing by a bona fide purchaser for valuable consideration, may lodge a registrar’s caveat under the Land Title Act.