Edmonton Mortgage Lawyers – Including Second Mortgages and Lines of Credit

If you are looking to refinance your home or other property, the best thing to do is contact a mortgage lawyer.  Mr. Ed can help you. He has been a real estate and mortgage lawyer in Edmonton for over 25 years. He has done literally thousands of mortgage transactions.

Mr. Ed has acted for all the major financial institutions including CIBC, TD Canada Trust, Bank of Montreal, Royal Bank, RBC, Scotiabank, HSBC, ING Banking and more.

If your existing or future mortgage is CMHC insured, Mr. Ed will give you solid advice about this as well.

Mr. Ed generally charges $450. for doing all the work around placing a a new mortgage.

Mortgages and Encumbrances

Here are some excerpts from the Land Titles Act of Alberta that relate to mortgages.

102(1)  When land for which a certificate of title has been granted is intended

(a)    to be charged or made security in favour of a mortgagee, the mortgagor shall execute a mortgage in the prescribed form, or to the like effect, or

(b)    to be charged with or made security for the payment of an annuity, rent charge or sum of money in favour of any encumbrancee, the encumbrancer shall execute an encumbrance in the prescribed form, or to the like effect.

(2)  A mortgage or encumbrance shall

(a)    contain an accurate statement of the estate or interest intended to be mortgaged or encumbered, and

(b)    give a description of the land intended to be dealt with that is sufficient to identify the land,

Another 12 sections then go on to deal with the following mortgage topics:

  • Mortgage as security
  • Priority of mortgage
  • Mortgages affected by conditional sales agreement
  • Discharge of mortgage or encumbrance
  • Postponements
  • Memorandum in case of extinction of annuity, etc.
  • Priority of transfers of mortgages
  • Liability of transferee
  • Rights of transferee
  • Short form of mortgage
  • Standard form mortgage
  • Use of standard form mortgage
  • Powers of Attorney

See Land Titles Act of Alberta, RSA 2000, c.L-4

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