The Canadian Law of Mortgages, 3rd Edition
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An Issue-by-Issue Approach to Mortgages
The third edition of this book, cited numerous times by the court in every major Canadian jurisdiction, fully updates you on the law of mortgages in Canadian common law jurisdictions. Author Joseph Roach delves into problems and questions that real estate practitioners tackle on a daily basis. The result is a fast, efficient reference of a national scale.
You'll find an in-depth treatment of the fundamental right of the mortgagor to redeem, and of the traditional remedies available to the mortgagee – such as foreclosure, judicial and extrajudicial sale, action on the covenant, and the right to bring an action for possession.
Topics cover both substantive and procedural law, with handy reference materials:
- Full text of the Mortgages Act
- Applicable rules of practice
- Forms of judgment
- Standard charge terms useful for the practice of the law of mortgages
What’s New in This Edition?
- Updated to account for changes in the law since the previous edition
- Updates on the effect of the Land Registration Reform Act
- Significantly revised commentary on the statutory power of sale in New Brunswick
- Vexing problem arising in the calculation of Deficiency in New Brunswick resolved in the 2016 Court of Appeal decision Keough v Sandfire Capital Limited Partnership
- New section on the rule in Campbell v Holyland on the further right to redeem in equity after a final order of foreclosure
- Detailed discussion of conflict emanating from the Alberta and Ontario courts in Weirdale Investment and Krayzel Corporation regarding the scope of Section 8 of the Interest Act
- Novel mortgage terms or conditions increasing the mortgage rate of interest which is triggered solely by the mere passage of time do not contravene section 8 of the Interest Act : Krayzel Corporation.
- Added discussion of the province of Manitoba and section 8 of the Interest Act (penal clauses)
- New detailed section on the conflict between sections 8 of the Interest Act and 17 of the Mortgages Act regarding the mortgagee’s demand for a penalty or a fine for the payment of the loan before the due date
- Updated discussion on Criminal Interest Rate amendments
- New section on the Unconscionable Transactions Relief Act including discussion of the purpose, prerequisites and application of the legislation
Who Should Buy This Book?
- Real estate lawyers seeking answers to all manner of questions that arise when advising clients on mortgage issues
- Law students who need to learn the foundation of this critical area of law
- Judges looking for a thorough examination of the various doctrines and remedies in mortgage law
Table of contents
Part I: Introduction
Chapter 1: Definition and Historical Background
Part II: The Right to Redeem: Remedy of the Mortgagee
Chapter 2: Foreclosure
Chapter 3: Judicial Sale
Chapter 4: Extrajudicial Sale
Chapter 5: Action on the Covenant
Chapter 6: Possession
Part III: Remedy of the Mortgagor
Chapter 7: Exercising the Right to Redeem
Chapter 8: Further Right to Redeem in Equity
Chapter 9:Redemption Action
Part IV: The Mortgage Deed
Chapter 10: The Mortgage Contract
Chapter 11: Novation
Chapter 12: Acceleration and Due-On-Sale Clauses
Chapter 13: Assignment and Subrogation
Chapter 14: The Contract of Guarantee
Part V: Priorities
Chapter 15: Priorities at Common Law and under the Registry Systems
Chapter 16: Priority under the Doctrine of Consolidation and Marshalling
Part VI: Interest Rate and Prepayment
Chapter 17: The Interest Act
Chapter 18: Criminal Interest Rate and Unconscionable Mortgage Loan
Part VII: Appendices
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