Alberta Minister Dale Nally reassures life lease holders they won't be at the back of loan repayment queue under new regulations.
Life lease holders in Alberta have received reassurance from Service Alberta Minister Dale Nally that they will not be placed at the back of the loan repayment queue when new regulations come into effect. Nally had previously faced calls for his removal from the Alberta Life Lease Protection Society (ALLPS), but following meetings with ALLPS members and former life-lease holders, Nally has reassured concerns about two separate repayment queues. The Consumer Protection (Life Leases) Amendment Act, introduced by Nally, aims to penalize life lease operators with fines or imprisonment if payments aren't made within 180 days after a lease is terminated.
April 23, 2024
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