News & Publications

Real Estate & Mortgage Claims

Mortgagee Remedies in Ontario

Written by on December 10, 2018.

When a mortgagor (borrower) defaults on mortgage payments, the mortgagee (lender) has several remedies at its disposal. The most frequently used remedies are a power of sale, an action for judicial sale, and an action for foreclosure. The following is a comparison of the three remedies, highlighting the benefits and disadvantages of each. Following a default, a mortgagee may sell the mortgaged property pursuant to a private power of sale. This remedy allows a mortgagee to force a sale of the ...

Limitation Periods – Often Overlooked, Yet Potentially Fatal to Your Legal Rights

Written by on May 29, 2015.

It is inevitable that at some point a business will experience a harmful event that causes it to suffer a financial loss. Examples include a third party breaking a contract or a warehouse fire due to faulty electrical wiring. Therefore, businesses need to be aware of the time limits that restrict their right to start a lawsuit. The legal term for this is limitation period (think of it as an hourglass full of sand). Definition of Limitation Periods Ontario has a default two-year limitation peri...