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Navigate each step of a mortgage transaction—from receipt of instructions to closing—with confidence
This publication is essential for: lawyers acting for borrowers, guarantors, and lenders in mortgage transactions.
Current to: June 1, 2017
BC Mortgages Practice Manual covers almost every practical issue that can arise from the wealth of rules and regulations that govern mortgages in British Columbia. Essential and well-organized, this practice tool focuses on the residential mortgage transaction and also discusses special considerations for commercial mortgages. Receive topic-by-topic guidance through the entire mortgage transaction process from receiving lender’s instructions, to conducting searches, to preparing mortgage documents, and finally to concluding the mortgage.
With BC Mortgages Practice Manual, you will have quick access to:
- detailed discussion on topics such as: prescribed mortgage terms, collateral security, closing procedures, discharging a mortgage, mortgage assumptions, and tax considerations
- over 80 forms and precedents including templates for search letters, file documentation, opinions and reports, and documents for special mortgages to save you time
- checklists for client verification, mortgage procedure, mortgage drafting, and PPSA registration to make sure you don’t miss a step
- fully searchable text with links to full-text cases and legislation via online access
“There are not very many texts regarding mortgages, and those that do exist are not specific to the particular case law and legislative overlay that has developed in BC. This manual contains the most recent practice developments of the specialist bar working in BC. The classic works on mortgages are also excellent but I find that this manual is almost always a valuable resource to ensure that the BC context is considered.” – Mark C. Baron, Partner, Richards Buell Sutton LLP
Highlights of the 2017 update
- 2016 SCC jurisprudence clarifying s. 8 of the Interest Act
- terms in a lender’s commitment letter to be satisfied prior to funding
- due diligence as to beneficial owner where nominee holds title
- additional property transfer tax in Greater Vancouver where purchaser is a “foreign entity”
- retirement of Form 24 (Postponement Agreement) by Director of Land Titles
CLEBC Legal Editor
L. Joy Tataryn