The register of personal and movable real rights is a computerized government register through which can be made public rights related to the liquidation of a succession.
The liquidator must ensure that the following rights are entered, in the order, in the register of personal and moveable real rights: the name of the liquidator (or the liquidator's replacement if applicable); the closure of inventory; the closure of the liquidator's account.
The register of personal and movable real rights is a computerized government register that makes rights to certain movable property (see Definitions) or of individuals public.
A right to movable property must be entered in the register when it concerns:
- the property of an enterprise (for example, equipment, tools, inventory or a claim)
- a road vehicle (for example, an automobile, a motorcycle or a snowmobile)
- a boat
- a personal watercraft
- an aircraft
- certain precious property (for example, an artwork or jewellery)
- a financial instrument (for example, a share or a savings bond)
The main personal rights (see definitions) that must be entered in the register of personal and movable real rights are as follows:
- notices of marriage contracts, civil unions or divorce judgments
- real rights related to the liquidation of a succession
Following an entry (see Definitions) in the register, a right is published and therefore presumed to be known by any person. Thus, a person who fails to consult the register, for example before purchasing a road vehicle, may not invoke his or her good faith if a problem arises. If the previous owner ceased to reimburse his or her loan, the property could be seized.
The publication of rights constitutes a protection for any creditor holding rights to movable property and for any person who wishes to acquire such property or take it in guarantee.
Movable property
A tangible asset (thing) or an intangible asset (claim) that can be moved and is not qualified as an immovable by law, such as equipment, inventory, accounts receivable, road vehicles, mobile homes and boats.
Personal right
A right that may be exercised against a person (a debtor) and that does not apply directly to a thing.
Movable real right
A right that applies to movable property and may be exercised directly on that property without the intermediary of an individual (for example, rental, ownership or hypothec).
Registration
Information entered in the register of personal and movable real rights to make it public.
