Veterans’ Land Act (R.S.C. 1970, c. V-4)

Act current to 2016-04-12

Marginal note:Veteran deemed a tenant at will

 Every veteran holding or occupying land sold by the Director shall until the Director grants or conveys the land to him be deemed a tenant at will.

  • R.S., 1952, c. 280, s. 12.
Marginal note:Title, etc., to remain in the Director
  •  (1) The title, ownership and right of possession of all property sold to a veteran shall, save as hereinafter provided, remain in the Director until the sale price and other charges duly made in respect thereof are fully paid.

  • Marginal note:Title to livestock, etc., may be released to veteran

    (2) The Director may at any time transfer to the veteran the title to any such livestock and farm equipment as he may deem advisable but such release does not relieve the veteran from making the payment therefor as provided under this Part.

  • R.S., 1952, c. 280, s. 13.
Marginal note:Agreement of sale

 All sales of property made pursuant to this Part and whereon any balance of the sale price remains payable by instalments or otherwise, shall be evidenced by agreement of sale, which shall fully set forth the terms of sale.

  • R.S., 1952, c. 280, s. 14.

Advances on the Security of Land Owned by a Veteran

Marginal note:Advances under conditions
  •  (1) The Director may make advances to a veteran certified by him to be qualified to participate in the benefits of this Act to enable the discharge of encumbrances on farm land that is owned and used by the veteran as such, for the payment of debts not secured by encumbrances on farm land that, in the opinion of the Director, were reasonably incurred by the veteran to effect improvements on farm land that is owned and used by the veteran as such, for the purchase of livestock and farm equipment and for the effecting of permanent improvements, of amounts not exceeding in the aggregate the sum of four thousand four hundred dollars, but subject to the following conditions:

    • (a) advances for all purposes shall not exceed sixty per cent of the value of the land as established by the Director;

    • (b) advances for the purchase of livestock and farm equipment shall not exceed fifty per cent of the value of the land, and shall not exceed a total of two thousand five hundred dollars, and all such purchases may be subject to the approval of the Director;

    • (c) such advances shall constitute a first charge on the land of the veteran with respect to which the advance is made and repayment thereof shall be secured by a first mortgage or hypothec upon such land;

    • (d) the terms of repayment may be extended over a period of thirty years with interest at the rate of three and one-half per cent per annum on the amortization plan;

    • (e) that, at the request of the veteran and at any time and from time to time during the period over which the advance is repayable, the Director may vary the terms of repayment to provide for payment of interest only for a period or periods not exceeding in the aggregate five years, or for annual, semi-annual or monthly instalments of principal and interest, but a maximum repayment period of thirty years may not be exceeded; and

    • (f) repayment in full of advances made under this section may be made at any time without notice or payment of bonus.

  • Marginal note:Sale of land subject to mortgage

    (2) Where any land subject to a first mortgage or hypothec in favour of the Director as described in subsection (1) is sold or agreed to be sold by a veteran, notwithstanding anything in this Act or the mortgage or hypothec, the interest payable from the date of such sale or agreement of sale on any remaining indebtedness to the Director under the mortgage or hypothec or under any other mortgage or hypothec taken to secure repayment of the amount then outstanding of any advance made under subsection (1) shall be at the rate or rates in effect for the purpose of this subsection at the time of such sale or agreement of sale.

  • R.S., 1952, c. 280, s. 15;
  • 1953-54, c. 66, s. 5;
  • 1962, c. 29, s. 4;
  • 1965, c. 19, s. 5;
  • 1968-69, c. 22, s. 1.
Marginal note:Mortgage or hypothec
  •  (1) Notwithstanding any other provision of this Act, the Director, on the request of the person who is a party to a contract for the sale of land, or where there is more than one such person, on the request of every such person, may terminate the contract, or any part of the contract, and may convey title to the land to the person or persons, as the case may be, subject to the following terms and conditions:

    • (a) ten years have elapsed since the effective date provided in the contract;

    • (b) the terms of the contract have been complied with throughout the ten-year period;

    • (c) the balance of the price payable to the Director for the sale of the land constitutes a first charge on the land and repayment thereof is secured by a first mortgage or hypothec on the land;

    • (d) the terms of repayment and the interest rates are the same as in the contract;

    • (e) the Director may, on the request of the person or persons obligated under any mortgage or hypothec executed under this subsection, at any time and from time to time during the period over which the balance of the sale price is repayable, vary the terms of repayment to provide for payment of interest only for a period or periods not exceeding in the aggregate five years, or to provide for annual, semi-annual or monthly payments of principal and interest; and

    • (f) repayment in full or in part of the balance of the sale price may be made at any time without notice or payment of bonus.

  • Marginal note:Assumption only with consent

    (2) A mortgage or hypothec executed under subsection (1) may be assumed only with the consent of the Director.

  • Marginal note:Costs

    (3) The costs incurred to convey title to property and to register mortgages or hypothecs and all other immediately related costs shall be borne by the person or persons making the request referred to in subsection (1), but the Director may, at his discretion, pay such costs.

  • 1980-81-82-83, c. 78, s. 3;
  • 1986, c. 15, s. 11.

Insurance and Taxes

Marginal note:Director may require insurance policies

 While a veteran is indebted to the Director in connection with the sale of land or other property to him, in connection with any mortgage or hypothec taken under section 17 or 17.1, or in connection with any loan made under Part III, the Director may require that the veteran shall insure in favour of the Director any property to the extent of its insurable value and may require the veteran to assign and deliver over unto the Director, as the interest of the Director may appear, the policy or policies of insurance; if the veteran fails or neglects to keep such property insured then it is lawful for the Director to insure such property and all moneys so expended by the Director shall be repaid by the veteran on demand with interest computed from the time of advancing the same at the rate or rates in effect for the purpose of this section at that time, and in the meantime the amount of such payment shall be added to the sale price of or amount outstanding on such property or to the amount of the mortgage or hypothec, as the case may be, and shall become a part of the principal.

  • R.S., 1970, c. V-4, s. 18;
  • 1980-81-82-83, c. 78, s. 4.
Marginal note:Veterans’ group insurance
  •  (1) Where a veteran or a survivor of a veteran is indebted to the Director in connection with the sale of land or other property to the veteran or deceased spouse or common-law partner of the survivor, in connection with any mortgage or hypothec taken under section 17 or 17.1, or in connection with any loan made under Part III, the Director may, with the approval in writing of the veteran or survivor, enter into a group insurance contract on behalf of the veteran or survivor on such terms as the Director deems appropriate, insuring the life of the veteran or the spouse, common-law partner or survivor of the veteran in an amount sufficient to provide for the repayment to the Director of not less than fifty per cent of the amount of such indebtedness.

  • Marginal note:Director may pay insurance premiums, etc.

    (2) The premiums payable under any group insurance contract entered into under subsection (1) shall be assessed by the Director against those veterans and survivors on whose behalf the contract was entered into and if any such veteran or survivor fails or neglects to pay any premium so assessed in respect of him or her, the Director may pay the premium on behalf of the veteran or survivor and any amount so expended by the Director shall be repaid by the veteran or survivor on demand with interest from the time the amount was so expended at the rate or rates in effect for the purpose of this subsection at that time, and, until so repaid, shall be added to the sale price of or amount outstanding on the land or other property referred to in subsection (1), or to the amount of the mortgage or hypothec referred to in that subsection, as the case may be, and shall become part of the principal.

  • Marginal note:Definition of “survivor”

    (3) In this section, “survivor”, in relation to a veteran, means the surviving spouse or surviving common-law partner of that veteran.

  • R.S., 1970, c. V-4, s. 19;
  • 1980-81-82-83, c. 78, s. 5;
  • 2000, c. 12, s. 312.
Marginal note:Director may enter into an agreement to collect and pay taxes
  •  (1) Where a veteran is indebted to the Director in connection with a sale of land or other property to him, in connection with any mortgage or hypothec taken under section 17 or 17.1, or in connection with any loan made under Part III, the Director may enter into an agreement with the veteran on such terms as the Governor in Council may prescribe providing

    • (a) for the payment by the Director of rates, taxes or assessments in respect of such land or other property;

    • (b) for the payment by the veteran to the Director of such amount or amounts as may be required, in the opinion of the Director, to provide him with sufficient funds to make payment of such rates, taxes or assessments as they become due and payable; and

    • (c) for the adjustment of any surplus or deficiency in relation to such rates, taxes or assessments in the amount collected by the Director from the veteran under paragraph (b).

  • Marginal note:The Director may pay taxes, etc., on arrears

    (2) Where no agreement is entered into under subsection (1) between the veteran and the Director and the veteran fails or neglects to pay any lawful rates, taxes or assessments due in respect of property in which the Director has under this Act any interest, the Director may pay such rates, taxes or assessments and all moneys so expended by the Director shall be repaid by the veteran on demand with interest computed from the time of such payment by the Director at the rate or rates in effect for the purpose of this subsection at that time, and until so repaid the amount of such payment shall be added to the sale price of or amount outstanding on such property or shall become a part of the principal secured by any charge, mortgage or hypothec in favour of the Director, as the case may be; failure of the veteran to repay the amount of such payment on demand constitutes a default warranting rescission under section 22.

  • R.S., 1970, c. V-4, s. 20;
  • 1980-81-82-83, c. 78, s. 6.
 
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