Notices of Security Interest – Does my Mortgage have priority or Not?
Mortgage Lenders generally assume their mortgage security extends over all of the fixtures in a mortgaged home. That is not always the case. Notices of Security Interest (NOSI) are a way that other creditors can give notice that they claim a higher-priority interest over certain fixtures in a home. Mortgage Lenders need to be aware […]
Buying a house in foreclosure
If you read news or watch house-hunting TV shows, you may hear about people buying houses at a great deal, “fire sale” price because they bought a house in foreclosure. While home buyers in other jurisdictions may be able to snag homes at rock-bottom prices, the situation in Alberta is more complicated.
Mortgage registered for more than was advanced?
Don’t despair. There is assistance. The Land Titles Act was created to give borrowers a way out of mortgages registered for more than was advanced when you have asked the Bank/Lender to advance the further funds registered and they have refused.
Withholding tax required for non-resident defendants
Please click this link for full text of the recent decision of the B.C. Superme Court in Mao v. Liu(2017 BCSC 226) This case confirmed that a Purchaser of property from a Court Ordered sale has liability for withholding 25% of sales proceeds pending clearance from Revenue Canada where a Defendant is a non-Canadian resident.