68.4. Within 60 days after the expiration of the period provided for in section 68.3, the owner may, without the Société’s authorization, alienate the immovable in favour of the person mentioned in the notice given to the Société on the same conditions and for the prestation required of that person or, with the Société’s authorization, encumber the immovable with a hypothec or servitude. In the case of a transfer by onerous title, the proceeds of alienation must first be applied to the repayment of the amount of the subsidies paid by the Société for the construction and operation of the immovable.
The owner must forward a copy of the deed of alienation or of the deed instituting a hypothec or servitude to the Société within 15 days after its registration at the registry office.
The Société may, on request, extend the time limit provided for in the first paragraph to permit the completion of the alienation or the institution of the hypothec or servitude.
1991, c. 62, s. 3; 1999, c. 40, s. 273.