First Mortgage Protection for Second Mortgagees from FCT!
We are pleased to advise that First Canadian Title Insurance has, at our request, made available the Attached Mortgage Priority Endorsement for Second Mortgagees. The cost is $75.00 but the value is priceless. You can either add this endorsement directly through FCT’s website after you select the second mortgage priority in ordering your title […]
Blended, not stirred? Section 6 of the Interest Act
In our foreclosure practice, we occasionally encounter borrowers who think they’ve stumbled upon a way to get rid of get rid of the interest on their mortgages. We are happy to set them straight, and the courts are on our side. The issue is the application of Section 6 of the Interest Act, federal legislation […]
Buying and Selling a Business
When buying or selling a business, one of the main considerations is whether to structure the transaction as an Asset Sale or a Share Sale. There are a number of considerations when making this important choice. In an Asset Sale, the Purchaser only purchases certain assets of the target business, not the business itself. The […]
Mistaken Discharge of Mortgage
In a recent appeal decision, the Court of Queen’s Bench has prevented borrowers from taking a $200,000 windfall from a mistake by a mortgage. In Crystal Wealth Management System Ltd. v. JC Food Services Ltd. (2019 ABQB 59), Justice Browne considered an appeal from Master Schlosser. The mortgage lender, Crystal, had discharged a mortgage granted […]