Royal Trust Corporation of Canada v. Rockcliffe Park Realty Limited, 2004 ONCA 33370

COURT OF APPEAL FOR ONTARIO

DATE: 20041014 DOCKET: C41439

RE: ROYAL TRUST CORPORATION OF CANADA (Applicant/ Respondent in Appeal) -and- ROCKCLIFFE PARK REALTY LIMITED (Respondent/Appellant)

BEFORE: McMURTRY C.J.O., MacPHERSON and ARMSTRONG JJ.A.

COUNSEL: Fred E. Seller for the appellant Ian H. Fraser for the respondent

HEARD: October 7, 2004 RELEASED ORALLY: October 7, 2004

On appeal from the judgment of Justice Jean A. Forget of the Superior Court of Justice, sitting without a jury, dated January 28, 2004.

E N D O R S E M E N T

1We are satisfied that the motion judge did not err in his conclusion that the Royal Trust Corporation of Canada is entitled to a discharge upon payment to Rockcliffe Park Realty Limited of the sum of $25,000.00 plus interest. Section 93(2) of the *Land Titles Act*, R.S.O. 1990, c. L.5 provides:

93. (2) A charge that secures the payment of money shall state the amount of the principal sum that it secures.

2In our view, the mandatory language of s. 93(2) dictates the result.

3The appeal is therefore dismissed with costs fixed in the amount of $5,000.00, inclusive of disbursements and G.S.T.