10.1 General Principles

The legislation provides that a property, subject to a Corporation advance or subsidised advance, cannot be transferred unless a delegate has issued a certificate of entitlement to the proposed transferee.  This does not apply to a transmission of the property to an executor or administrator of the estate following the death of the borrower or in the case of survivorship in joint tenancy holdings.  The restrictive provision of section 22(1) in relation to transfers does not apply to assigned advances.