• About
  • Offices
  • Careers
  • News
  • Students
  • Alumni
  • Payments
  • FR
Background Image
Bennett Jones Logo 100 Years
  • People
  • Expertise
  • Knowledge
  • Search
  • FR Menu
  • Search Mobile
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
View all
Practices
Corporate Litigation Regulatory Tax View all
Industries
Capital Projects Energy Funds & Finance Mining View all
Advisory
Crisis & Risk Management ESG Strategy and Solutions Governmental Affairs & Public Policy
View Client Work
International Experience
Insights News Events
New Energy Economy Series Business Law Talks Podcast Economic Outlook
ESG & the CIO Subscribe
Bennett Jones Centennial Menu
People
Practices
Industries
Advisory Services
Client Work
About
Offices
News
Careers
Insights
Law Students
Events
Search
Alumni
Payments
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
 

Jurisdictional Differences in Real Estate Security and Enforcement

November 28, 2022

David Gruber spoke at the 2022 CBA Insolvency Law Conference in Toronto. He appeared on a panel that discussed what lenders and borrowers need to consider when dealing with real estate security, including how to value, protect and enforce.

Insolvency Insider covered the conference and posted the following summary of David's insights.

Jurisdictional Differences in Enforcement

David Gruber then covered certain differences in enforcement across Canada. David explained that these differences stem from the fact that, historically, a mortgage security took the form of an actual transfer of title, where the mortgagee became the legal and beneficial owner of the property, and the mortgagor just held an equity of redemption that was enforced in courts of chancery. In some provinces, the mortgage will include a power of sale in favour of the mortgagee, while in other provinces, this will not be enforceable as a clog on the equity of redemption.

In Ontario, while the power of sale is recognized, it is more common for mortgagees to seek a receivership order because they are worried about being found to have conducted an improvident sale. Depending on the rules of the province where the receivership is taking place, the process is different. In Ontario, the receiver is allowed to market the property for sale. In other provinces, the receiver is not able to sell or even market the property until the mortgagor’s equity of redemption has expired. As a result, in some cases, lenders will opt for a consensual CCAA or NOI over a receivership so that they are able to conduct a sale process right away without the debtor holding the process up.

Key Contact

  • David E. Gruber David E. Gruber, Partner

Fall 2022 Economic Outlook: Managing Risks and Taking Action

Related Links

  • Insights
  • Media
  • Subscribe

Related Expertise

  • Commercial Litigation
  • Commercial Real Estate
  • Property Development & Real Estate
  • Restructuring & Insolvency

Recent Posts

In The News

Canadian Government Cannot Rely on More Borrowing to Fund Pledges

January 27, 2023
       

Speaking Engagements

The Evolution of Economic Crime, Asset Recovery, Money Laundering and Enforcement

January 26, 2023
       

In The News

Why Ottawa's Plans to Restore Fiscal Balance Are On Shaky Ground

January 26, 2023
       

In The News

Canada Needs to Get Its Act Together on Growth

January 25, 2023
       

In The News

Canada's Spending Plans Will be Threatened by Higher Interest Rates and Looming Recession

January 25, 2023
       

In The News

David Dodge on Power Play: Canada's Fiscal Plan is Not the Full Story

January 25, 2023
       

In The News

Federal Government is Underestimating Risks of Recession and Higher Interest Rates

January 25, 2023
       

In The News

Government of Canada Plays "Hide the Deficit" in Fiscal Planning

January 25, 2023
       

Speaking Engagements

Extended Producer Responsibility and Single-Use Plastics Update

January 25, 2023
       
Bennett Jones Centennial Footer 100 Years
Bennett Jones Centennial Footer 100 Years
About
  • Leadership
  • Diversity
  • Community
  • Innovation
  • Security
  • History
Offices
  • Calgary
  • Edmonton
  • Montréal
  • Ottawa
  • Toronto
  • Vancouver
  • New York
Connect
  • Insights
  • News
  • Events
  • Careers
  • Students
  • Alumni
Subscribe

Stay informed on the latest business and legal insights and events.

LinkedIn LinkedIn Twitter Twitter Vimeo Vimeo
© Bennett Jones LLP 2023. All rights reserved.
  • Privacy Policy
  • Disclaimer
  • Terms of Use
Logo Bennett Jones