Comments on: Equitable mortgage principles affirmed after defaults of loans secured by property https://realestatemagazine.ca/equitable-mortgage-principles-affirmed-after-defaults-of-loans-secured-by-property/ Canada’s premier magazine for real estate professionals. Tue, 02 Apr 2024 15:54:52 +0000 hourly 1 https://wordpress.org/?v=6.6.2 By: Emma Caplan-Fisher https://realestatemagazine.ca/equitable-mortgage-principles-affirmed-after-defaults-of-loans-secured-by-property/#comment-14310 Tue, 02 Apr 2024 15:54:52 +0000 https://realestatemagazine.ca/?p=29731#comment-14310 In reply to David.

Hi David, thanks for your question. I consulted with James and he said: “The case arose because the lender who was supposed to have a fourth mortgage advanced the money but the mortgage was never registered. The result of the decision is that the lender was granted an “equitable” fourth mortgage on the property in the amount of $125,000, plus interest, which should be enough to cover the loan.”

]]> By: David https://realestatemagazine.ca/equitable-mortgage-principles-affirmed-after-defaults-of-loans-secured-by-property/#comment-14307 Mon, 01 Apr 2024 13:16:47 +0000 https://realestatemagazine.ca/?p=29731#comment-14307 Question , was the fourth mortgagor out any money? It’s seems there was never a fourth mortgage placed on the property despite the defaults.

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