One of the great things about the British Columbia Land Title system is that a registered owner of title, charge or mortgage can safely rely on the registered document.
Until 2009.
Recently the Court of Appeal returned a property, unencumbered to its rightful owner. The original owner's property was transferred to a buyer who used an innocent lender to complete the purchase. The "seller" walked away with the mortgage money and buyer's cash. The lender was left with no mortgage repayment and no registered mortgage.
If you're a lender, you'll want to explore with your lawyer possible protection for you.
If your lawyer isn't helping you - ask yourself, why not?
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About Me
- D Dort
- My practice is diverse but I like to summarize it as "dirt, paper, and money". From commercial lending, to trusts, wills, conveyancing and coporate matters, my proactice is diverse. The trick is knowing when to refer my clients to a specialist, which I am happy to do. After all, it's about having a happy client.
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