C.C.S.M. c. M200
The Mortgage Act
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(3) | Repealed | |
(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 | Repealed | |
28 | Repealed | |
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 | Consumer Protection Office | |
36 | (1) | Offence |
(2) | Liability of directors and officers | |
(3) | Penalty | |
37 | Limitation period | |
38 | Regulations |