REVISED STATUTES, 1989
1 This Act may be cited as the Religious and Charitable Corporations Property Act. R.S., c. 394, s. 1.
Validation of certain grants or bequests or devises
2 (1) All grants, devises and bequests of real and personal property made before the fifteenth day of April, 1890, to any religious or charitable corporation, any incorporated institution of learning or any body of persons incorporated for the purpose of managing or governing any institution of learning, are hereby declared to be valid and effectual for the purpose of vesting such property in such incorporated body, notwithstanding such incorporated body was not by its Act of incorporation, or any amending Act, empowered to take or hold real or personal property or notwithstanding any limit in such Act as to the amount of real or personal property which such incorporated body was empowered to take or hold.
Effect of Act
(2) This Act shall not extend to render valid or effectual any grant, devise or bequest that is to be void for any other reason. R.S., c. 394, s. 2.
Power to sell or mortgage real property
3 Any religious or charitable corporation or incorporated institution of learning, or body of persons incorporated as aforesaid, may sell or mortgage any of its real property by way of security for any money borrowed for the purposes of the corporation, such mortgage to be executed under the seal of the corporation and the hand of the president or other chief officer of the corporation. R.S., c. 394, s. 3.
Acquisition and alienation of property
4 Any such religious or charitable corporation or incorporated institution of learning, or body of persons incorporated as aforesaid, may lawfully take, hold, convey, sell or mortgage any real or personal property, whether authorized to do so by its Act of incorporation or not. R.S., c. 394, s. 4.