What is the difference between land and cash security?

Ontario, Canada


The following excerpt is from JB Aluminium Products Limited v CL Commercial Inc, 2013 ONSC 5752 (CanLII):

The lien claimants then seemed to argue that cash security was better than land security, although they acknowledged that by posting cash security under section 44 the Mortgagees would still be able to make the same claim for priority under section 78 of the Act to the cash security that they would to the land security; see Gilvesy Construction v. 810941 Ontario Ltd., (1994) 17 C.L. R. (2d), p.187. They then seemed to argue that cash security would have none of the inconvenience and expense of a land sale to satisfy a judgment.

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