LRC Reports

Floating Charges on Land, Report on (1989)

Keywords: floating charge; property; real; land; crystallization; debt; debtor; creditor; insolvent; mortgage; security; interest; registration; title; circular; priority

A floating charge on land is a particular kind of mortgage, which, unlike traditional or “fixed” mortgages, does not bind specific property so long as the borrower remains financially healthy. Instead, the floating charge only becomes fixed on particular assets when a specified event occurs (usually this event is associated with the borrower’s financial stability). Floating charges are rather unusual, but they are still used in some commercial financing arrangements. When this project was carried out, the advent of the Personal Property Security Act appeared to jeopardize their continued use. This project considers a new scheme for registering floating charges over land, in light of the changes wrought by the Personal Property Security Act.

Related Files

Below you will find additional, relevant and specific documentation, backgrounders, research, resources, media releases and summaries that have been, or will be incorporated into our final publications and study papers.

If you have questions about these or other specific documents, please reach out to BCLI using our contact page or at the bottom of each page of our website.