News & Resources
Building Or Buying A New Home?
Building or buying a new home? Confused about your obligations related to builders liens? Here's the key points: A buyer of a newly built home is an 'owner' under the Builders Lien Act (BLA). He holds back 10% (7% for strata property) of the gross purchase price for 55 days…
Foreclosure
Foreclosure is when the lender calls in funds advanced under the mortgage due to default by the borrower. Default occurs when the borrower fails to pay, fails to sign renewal documents or the mortgage expires. Foreclosure is initiated by filing a Petition in the Supreme Court. The Petition must be…