HomeC.C.S.M. c. M200
The Mortgage Act
| Back to the Act | Regulations |
| 1 | Application of Part I |
| 2 | Application of Parts II and III |
| PART I | |
| 3 | Definitions |
| 4 | Mortgagee's inspection fees |
| 5(1) | Mortgagee's collection costs |
| (2) | Right to certain costs preserved |
| (3) | Limitation in collection costs |
| (4) | Leased land |
| 6(1) | When mortgagor may require mortgagee to assign mortgage to third party |
| (2) | Encumbrancer to have same right |
| (3) | When not to apply |
| (4) | Conditions to be complied with by party demanding assignment |
| (5) | Contrary stipulation null |
| 7(1) | Inspection of documents by mortgagor |
| (2) | Contrary stipulation |
| 8(1) | Application of insurance money by mortgagor |
| (2) | Mortgagee may insist on money being paid to him |
| (3) | Law of Property Act applies |
| 9(1) | Rights of insurer under subrogation |
| (2) | Rights of insurer under assigned mortgage |
| 10 | Equity of redemption may be acquired without merger |
| 11 | Rights of mortgagee or assignee acquiring the equity of redemption |
| 12 | Foreclosure may be continued by assignee |
| 13(1) | Advances for seed grain by mortgagees |
| (2) | Addition to mortgage moneys |
| (3) | |
| (4) | Advances of seed grain by vendors |
| (5) | Security on crops |
| (6) | Consent of prior mortgagees |
| (7) | The Homesteads Act not to apply |
| (8) | Application of money advanced |
| (9) | Taking possession of crops or grain |
| (10) | Penalty for misapplying seed grain |
| (11) | Definitions |
| 14 | Remedying of default by mortgagor |
| 15 | Right to pay off mortgage |
| 16 | Effect of mortgagee, etc., becoming owner |
| PART II | |
| 17 | Mortgages, how affected by conveyances subsequently registered |
| 18 | Purchaser of mortgage may plead purchase for value without notice |
| 19 | Proof of payment of purchase money unnecessary |
| 20(1) | Six months' notice or interest unnecessary after default |
| (2) | Payment of mortgage moneys within three months after default |
| (3) | Payment of mortgage moneys after three months after default |
| (4) | Where payment is not made as set out in notice |
| (5) | Mortgagee's right of action, etc., not affected |
| (6) | Payment of mortgage moneys under mortgage which has run five years |
| (7) | Subsec. (6) not applicable to mortgage company or to debentures |
| (8) | Payment where a higher and a lower rate |
| (9) | Application of Act |
| 21 | Proceedings in certain mortgages declared valid |
| 22 | Actions by mortgagors for possession of land |
| 23(1) | Costs of exercising power of sale taxed in Queen's Bench |
| (2) | Fee payable |
| (3) | Tariff to be applied |
| (4) | Appeal |
| (5) | Costs of taxation |
| 24(1) | Taxation of mortgagee's costs |
| (2) | Real Property Act tariff and appeals |
| (3) | No double taxation |
| 25(1) | Request for statement |
| (2) | Mortgagee to furnish statement of account |
| (3) | Statement may be required once a year |
| (4) | Account for payoff or sale |
| (5) | Costs of obtaining statement elsewhere |
| (6) | Notice in mortgage |
| (7) | Voluntary furnishing of statement |
| (8) | Application of section |
| (9) | Statement where mortgagor gives acknowledgment |
| 26 and 27 | |
| 28 | |
| PART III | |
| REVERSE MORTGAGE LOANS | |
| 29 | Definitions |
| 30 | Application of this Part |
| 31(1) | Lender's limited recourse |
| (2) | Borrower's limited liability |
| 32(1) | Application and other fees |
| (2) | Refund to borrower |
| (3) | Exception for independent legal and appraisal fees |
| 33(1) | "Cooling-off period" defined |
| (2) | Disclosure required |
| (3) | Mortgage signed before end of cooling-off period |
| (4) | Statutory terms |
| (5) | Set-off and refund |
| (6) | Order for discharge and costs |
| 34(1) | Application to court |
| (2) | Onus re disclosure |
| (3) | Limitation period |
| 35 | Consumers' Bureau |
| 36(1) | Offence |
| (2) | Liability of directors and officers |
| (3) | Penalty |
| 37 | Limitation period |
| 38 | Regulations |
