2 total
Court determines outstanding mortgage balance and awards full indemnity costs to mortgagee following property sale.
The defendant mortgagor brought a motion to set aside a default judgment and stay a writ of possession, while the plaintiff mortgagee brought a cross-motion to determine the amount due under the mortgage following the sale of the property.
The court dismissed the motion to set aside the default judgment due to lack of evidence and delay.
The court determined the outstanding mortgage amount, including interest, penalties, and fees, finding that the defendant's failure to close an earlier sale was not solely attributable to an inaccurate discharge statement provided by the plaintiff.
The plaintiff was awarded the outstanding mortgage balance and costs on a full indemnity basis.
Solicitor’s undertaking enforced; vendor entitled to real estate holdbacks absent registered liens.
A vendor brought an application arising from a real estate transaction involving multiple holdbacks secured by lawyers’ undertakings.
The dispute concerned entitlement to a construction lien holdback, a building permit holdback, and a construction work holdback following closing of the property sale.
The court held that the purchasers could not refuse release of the construction lien holdback where no liens were registered and a solicitor had given a clear undertaking.
The vendor was also granted equitable relief from forfeiture in respect of the building permit holdback, as the permit closure had been obtained and the delay in notification caused no prejudice.
The remaining construction work holdback was ordered paid into court pending resolution of related civil claims.
