Acts and Regulations

I-8 - Infirm Persons Act

Full text
Money arising from disposition of property
18(1)The mentally incompetent person, his heirs, executors, next of kin, devisees, legatees and assigns, shall have the same interest in any money arising from any sale, mortgage or other disposition under the powers of this Act, that may not have been applied under such powers, as he or they would have had in the property the subject of the sale, mortgage, or disposition, if no sale, mortgage or disposition had been made, and the surplus money shall be of the same nature as the property sold, mortgaged or disposed of.
18(2)Money received for equality of partition and exchange, or under any lease of unopened mines, and all premiums and sums of money received upon the grant or renewal of a lease, where the property the subject of the partition, exchange or lease was land of the mentally incompetent person, shall, subject to the application thereof for any purposes authorized by this Act, as between the representatives of the real and personal estate of the mentally incompetent person, be considered as real estate, except in the case of premiums and sums of money received upon the grant or renewal of leases of property of which the mentally incompetent person was tenant for life, in which case the premium and sums of money shall be personal estate of the mentally incompetent person.
18(3)In order to give effect to this section the court may direct any money to be carried to a separate account, and may order such assurances and things to be executed and done as may be deemed expedient.
R.S., c.144, s.17; 2000, c.45, s.3
Money arising from disposition of property
18(1)The mentally incompetent person, his heirs, executors, next of kin, devisees, legatees and assigns, shall have the same interest in any money arising from any sale, mortgage or other disposition under the powers of this Act, that may not have been applied under such powers, as he or they would have had in the property the subject of the sale, mortgage, or disposition, if no sale, mortgage or disposition had been made, and the surplus money shall be of the same nature as the property sold, mortgaged or disposed of.
18(2)Money received for equality of partition and exchange, or under any lease of unopened mines, and all premiums and sums of money received upon the grant or renewal of a lease, where the property the subject of the partition, exchange or lease was land of the mentally incompetent person, shall, subject to the application thereof for any purposes authorized by this Act, as between the representatives of the real and personal estate of the mentally incompetent person, be considered as real estate, except in the case of premiums and sums of money received upon the grant or renewal of leases of property of which the mentally incompetent person was tenant for life, in which case the premium and sums of money shall be personal estate of the mentally incompetent person.
18(3)In order to give effect to this section the court may direct any money to be carried to a separate account, and may order such assurances and things to be executed and done as may be deemed expedient.
R.S., c.144, s.17; 2000, c.45, s.3