BC Mortgages Practice Manual

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: September 1, 2012 

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.

The book is updated regularly, and subscriptions include online access with search capability and links to the full text of case law and legislation, and forms and precedents on CD-ROM.

NEW! ONLINE ONLY annual subscriptions are now available. Subscribe now.

Highlights of the 2012 update

• limitation to natural persons of mortgage prepayment right after five years, effective January 1, 2012
• Law Society’s new Code of Professional Conduct for British Columbia, in effect January 1, 2013
• transition to electronic filing at land title office and updated registration procedures
• Director of Land Titles’ power to prescribe and amend Electronic Filing System (EFS) forms
• reissuance of hardcopy land title forms effective January 1, 2011
• case law on finding of equitable fraud for purposes of Land Title Act s. 29
• coming into force of Family Law Act March 18, 2013
• enhanced discussion of tacking and priority of a subsequent mortgage
• proposed legislation limiting availability of reserve for sales of real property on income account
• elimination of Harmonized Sales Tax effective April 1, 2013

CLEBC Legal Editor
L. Joy Tataryn
jtataryn@cle.bc.ca

CONTENTS
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Chapters

1. The Mortgage
2. Mortgage Terms
3. Preliminary Matters
4. Searches and Investigations
5. Documentation
6. Collateral Transactions
7. Special Mortgages
8. Closing Procedures
9. Discharge of a Mortgage
10. Assumptions, Modifications, and Transfers
11. Tax Considerations

Checklists

• Client Identification and Verification Procedure
• Mortgage Procedure
• Mortgage Drafting
• PPSA Registration
• Independent Legal Advice

Forms and Precedents
I. Search Letters
II. Documentation
III. Opinions and Reports
IV. Collateral Transactions
V. Special Mortgages
VI. Discharge of a Mortgage
VII. Assumptions, Modifications, and Transfers

Tables
Case Table
Statute Table
References
Index

Features

• complete set of forms, precedents, and checklists
• regular updates
• tables of cases, statutes, and references
• comprehensive index
• convenient looseleaf format with tab indexing
• online access to electronic version with hyperlinks to primary law

Editorial Board
Allan J. Coombe — Webster Hudson & Coombe LLP, Vancouver
James Sutcliffe — Lawson Lundell LLP, Vancouver
Professor Mary Anne Waldron, QC — Faculty of Law, University of Victoria, Victoria

Authors
Mark C. Baron — Richards Buell Sutton LLP, Vancouver
R. Bruce Buckler — Dinning Hunter Lambert & Jackson, Victoria
John P. Ferber — Miller Thomson LLP, Vancouver
Drew Lawrenson — Eminata Group, Vancouver
Mark V. Lewis — Borden Ladner Gervais LLP, Vancouver
Martha Martindale — Borden Ladner Gervais LLP, Vancouver
James McBeath — Owen Bird Law Corporation, Vancouver
Edna M. Ritchie — Lawyers Insurance Fund, Law Society of British Columbia, Vancouver
Josh Schmidt — Thorsteinssons LLP, Vancouver
Franco E. Trasolini — Davis LLP, Vancouver
Leslie A. Tucker — Koffman Kalef LLP, Vancouver
Edward L. Wilson — Lawson Lundell LLP, Vancouver