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BC Mortgages Practice Manual--ONLINE ACCESS

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Know every step of a mortgage transaction—from receipt of instructions to closing

This publication is essential for: lawyers acting for borrowers, guarantors, and lenders in mortgage transactions.

Current to: June 1, 2015

ONLINE ONLY annual subscriptions to this book include convenient online access with search capability, links to the full text of cases and legislation, downloadable forms and precedents, and regular updates. 

A wealth of rules and regulations govern mortgage transactions in British Columbia. What are their practical implications and how do you apply them in your day-to-day work? This essential reference book reviews the residential mortgage and discusses special considerations for commercial mortgage transactions.

Highlights of the 2015 update

  • developing jurisprudence (leave granted to appeal to SCC from ABCA) on s. 8 of Interest Act (prohibition on higher interest rate on arrears)
  • Code of Professional Conduct for B.C. rules and commentary discussed re conflicts, undertakings
  • case law on need for lawyer to verify accuracy of payout statement
  • spousal interest in real property under Family Law Act
  • importance of lender’s inquiries and proper charging of beneficial interest
  • absence of requirement for survey certificate for strata property
  • lenders’ willingness to accept title insurance instead of survey certificate
  • importance of reviewing strata corporation’s Form B—Information Certificate when acting for mortgagee
  • exercise of caution in giving marketability opinion
  • new Limitation Act provisions and release of vendor liability in cases of mortgage assumption
  • case law on statutory limit to purchaser’s liability for vendor’s default in cases of mortgage assumption
  • withholding tax on interest paid to a Hong Kong resident
  • enhanced/updated discussion of “thin capitalization” rules

CLEBC Legal Editor
L. Joy Tataryn

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