Tag: redemption

12 Sep

Can a lender charge a mortgage pre-payment penalty under Power of Sale proceedings or once the mortgage term has matured, regardless if it is an Open or Closed Mortgage?

Under section 17 of the Mortgages Act, and pursuant to relevant case law the answer is “Yes” the lender can. Subject to the wording in the...

11 Jun

Understanding Municipal Tax Sales: Legal Challenges

Other Legal Challenges Earlier we have discussed three Municipal Tax Sales clauses, which if applicable, leads to cancellation of sale. Besides cancellation by the treasurer, the...