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For example, purchasers of the land from the record title holder who pay valuable consideration and have no knowledge of unrecorded mortgages will be protected against those mortgages by the courts. All of this flows from the statement in most recording statutes that the unrecorded instruments are void against such purchasers.
Canadian property law, or property law in Canada, is the body of law concerning the rights of individuals over land, objects, and expression within Canada. It encompasses personal property, real property, and intellectual property. The laws vary between local municipal levels, up to provincial and then a countrywide federal level of government.
Canadians hold increasing mortgage debt (almost $2 trillion in June 2021, [129] $2.16 trillion residential in 2023 [130]) while unemployment rose and net employment fell in 2024. [131] Short-term fixed-rate mortgages are dominant in Canada, [132] typically with the interest rate locked in for five years. This contrasts with the United States ...
a description of the map's place of official recording (e.g., recorded in the files of the County Engineer). The legal description of a 2.5-acre (10,000 m 2) property under the Lot and Block system may be something like; Lot 5 of Block 2 of the South Subdivision plat as recorded in Map Book 21, Page 33 at the Recorder of Deeds.
In 1999, the National Housing Act and the Canada Mortgage and Housing Corporation Act were modified, allowing for the introduction of a 5% down payment—a change launched as a pilot in 1992, extended and finalized in 1999—removing a significant barrier for first-time home buyers. CMHC also expanded its activities internationally and launched ...
This is a list of publicly traded and private real estate investment trusts (REITs) in Canada. Current REITs. REIT [1] Traded as (TSX) Profile Major tenants/properties
In 2021, First National's mortgages under administration grew to $123.9 billion. [21] In 2022, First National's Mortgages under administration totalled a record high of $131 billion in 2022 [22] As of June 30, 2023, First National's mortgages under administration increase by 8% to a record level of $137.8 billion. [23]
Widespread lack of clarity in chain of title results from a 1995 decision by many lenders to rely on a third entity—often, a specific company, Mortgage Electronic Registration Systems (MERS)--to hold title nominally, in an effort to enable the buying and selling of mortgage liabilities without registration of changes of ownership with local ...