474. Meaning of 'onerous property'.

474.     Meaning of 'onerous property'.

For the purposes of disclaimer, onerous property comprises any unprofitable contract and any other property comprised in the bankrupt's estate1 which is unsaleable or not readily saleable, or is such that it may give rise to a liability to pay money or perform any other onerous act2. A notice of disclaimer may not, however, be given3 in respect of any property that has been claimed as after-acquired property4 or personal property of the bankrupt exceeding a reasonable replacement value5, or certain tenancies6, except with the