The purpose of this Act is to (a) remove uncertainties respecting the determination of marketable titles to land in the interests of all present and future landowners and facilitate the development of the Province; and (b) remove uncertainties respecting the validity of past and future. A person has a marketable title at common law or equity or otherwise to an interest in land if that person has a good and sufficient chain of title during a period greater than forty years immediately preceding the date the market ability is to be determined. (2) A chain of title commences with the registered instrument, other than a will, that conveys or purports to convey that interest in the land and is dated most recently before the forty years immediately preceding the date the mar -ketability is to be determined. Section 4A regulates extinguishment of interest in land; under section 5 a person may preserve an interest in land that, but for this Section, could be extinguished by Section 4A by filing a notice of claim.
Canada · 1995-01-01