Electrical wire options.

Our house has a garage was added on later. The garage and house share a roof with a breezeway between them. When we moved in, I noticed a coil of wire in the rafters of the breezeway. Waving my detector I determined that it was hot. At the main panel it was connected to a 50 amp breaker. This breaker is now off, taped off, and labeled.
The garage is not wired.
The wire itself appears to be the stuff that runs from the house to the pole: Two insulated strands, and one bare strand, all three very heavy guage.
I suspect that when the previous owner added the garage, they stubbed in this line for eventual use to put a sub panel in the garage.
My reading of the Alberta electrical code simplified (the green book.) is that this wire is not code for in house wiring. It's not clear to me whether the rafter space of a breezeway in inside or outside.
Eventually I want to wire the garage properly. Replacing this wire will be difficult, as it feeds into the wall from above, but feeds into the main distribution panel (which is in the wall adjacent to the breezeway) from the bottom.
I can see the concern because of the bare wire. Ground isn't always ground. Would it be reasonable to use this wire to go to a sub panel using the bare wire as the neutral: if:
1. A plastic junction box is affixed to the wall where the wire comes out. 2. The entire route to the sub panel is in 1.25" plastic conduit. 3. The bare wire is used as neutral, and is bonded to the grounding post in the sub panel, as well as the neutral bus. 4. The subpanel is grounded to earth.
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Or it's a single 220 V circuit with a bare wire ground?

How is this coil of wires connected to the main panel at the 50 A breaker? Two insulated wires going to the breaker? Where does the bare wire connect at main panel? To the same electrical connection as the other household neutral wires?

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lee houston wrote:

The 50A breaker is a double. One insultated wire for each pole of the breaker. The bare wire is attached to the neutral bus.
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Then this circuit should be used (as it is) for Only a 220 volt load. To add 110 volt loads, u need to run a separate insulated neutral. Refer to Sym's reply for more detail

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snipped-for-privacy@gmail.com wrote:

nuetral wires carry a current and should be insulated. once leaving the panel grounds and nuetals do differnt things even though connected to the same spot in your breaker panel. nuetrals carry current any time their is a load,and grounds only carry current during some kind of fault your nuetral should be the same guage as your supply wires from the main panel and marked white. in the sub panel your grounds are suppose to be seperated from the nuetrals. the nuetral bar in the sub panel should be isolated or not bonded to the sub panel box. the ground should be bonded to the box. if you have 11/4 in pipe just pull another wire.
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don't think it's in conduit. OP mentioned it was a 'coil of wire'. If the existing wire goes under an exposed breezeway, i'd sure recommend running it thru conduit.
lee h
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