Westbank First Nation Land Registry Regulations (SOR/2007-232)

Marginal note:Electronic storage

25 The Registrar shall store in electronic form every document registered or recorded under these Regulations.

Marginal note:Return of registered document

26 After a document that was submitted to the Registrar in paper form has been registered or recorded, the Registrar shall return the original document to the applicant.

Marginal note:Errors in registration or recording

27 If the Registrar becomes aware of an omission or error in the registration or recording of a document, the Registrar shall immediately make the necessary corrections, add a notation to the Register identifying the corrections and notify all persons who may be adversely affected by the corrections.

Effect of Registration

Marginal note:Priority

• 28 (1) Subject to section 31, interests registered under these Regulations that affect the same parcel of Westbank land have priority according to the time and date of their registration and not according to the time and date of their execution.

• Marginal note:No priority to licences and other documents

  (2) For greater certainty, subsection (1) does not apply to a document that does not grant an interest in Westbank land.

Marginal note:Unregistered interests

29 A registered interest affecting a parcel of Westbank land is entitled to priority over an unregistered interest affecting the same parcel of Westbank land.

Marginal note:Revolving mortgages

30 A registered mortgage has priority over a subsequently registered interest that affects the same parcel of Westbank land, to the extent of the money actually advanced under the mortgage, to a maximum of the amount secured by the mortgage, even if all or part of the money was advanced after the registration of the subsequently registered interest, unless the mortgagee had actual notice of the registration of the subsequently registered interest before making the advance.

Marginal note:Deferred priority

• 31 (1) The holder of a registered interest, or a person applying to register an interest, may apply to record a postponement agreement that gives priority over the registered interest to a specified interest that was, or is to be, subsequently registered.

• Marginal note:Priority on recording

  (2) On the recording of a postponement agreement, priority shall be accorded to the interests referred to in the agreement in the manner provided for in the agreement.

Conflicts

Marginal note:Regulations paramount

32 In the event of a conflict between these Regulations and any Westbank law, these Regulations prevail to the extent of the conflict.

Transition to Priority System

Marginal note:Prior registered interest

• 33 (1) An interest that was registered in the Register before the day on which these Regulations come into force has priority over an interest registered under these Regulations on or after that day.

• Marginal note:No relative priorities

  (2) Subsection (1) shall not be interpreted to confer a priority on one interest that was registered in the Register before the day on which these Regulations come into force over any other interest that was also registered in the Register before that day.

Coming into Force

Marginal note:Coming into force date

34 These Regulations come into force on November 5, 2007.