Caron v. The Queen, 2003 DTC 1444, 2003 TCC 794 (Informal Procedure) -- summary under Paragraph 96(2.2)(d)

Mortgage debt, that was charged on real estate legally owned by a corporate subsidiary of a limited partnership of which the taxpayers were limited partners, was purportedly assumed by the limited partners. In finding that the amount of the assumed mortgage did not form part of the taxpayers' at-risk amount, Lamarre Proulx, J. indicated that it was not clear under the Mortgage Assumption Agreement that such an assumption had in fact occurred and that, in any event, the security given by the subsidiary was a benefit within the meaning of s. 96(2.2)(d).