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Questions and answers about farm debt

Description

This fact sheet addresses some of the common, and some not-so-common, questions asked by farmers about the legal implications of debt. More detailed information on the laws governing debt is... More ≫

Description

This fact sheet addresses some of the common, and some not-so-common, questions asked by farmers about the legal implications of debt. More detailed information on the laws governing debt is available in the publications Farm Debt: The Legal Implications Including the Personal Property Security Act, Agdex 817-12, and Alberta Personal Property Security Act, Agdex 817-13. This fact sheet is not a substitute for legal advice because farm debt can have complex tax and legal implications. Readers are advised to seek professional assistance with their specific concerns about farm debt.

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Alberta Personal Property Security Act : what it means to farmers [2001]

Description

In 1990, the Government of Alberta passed the Personal Property Security Act (PPSA) to govern dealings between creditors and debtors. This act modernized credit law in the province by amending or... More ≫

Description

In 1990, the Government of Alberta passed the Personal Property Security Act (PPSA) to govern dealings between creditors and debtors. This act modernized credit law in the province by amending or repealing several acts, some of which traced their origins back to the nineteeth century. The PPSA applies to many transactions in which creditors obtain an interest in a debtorís personal property to secure payment or performance of an obligation. The act simplified registration procedures for security interests by creating the Personal Property Registry.

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