Can a mortgagee realize upon collateral under a mortgage?
British Columbia, Canada
The following excerpt is from Bilkey et al v. Paul et al, 2004 BCSC 167 (CanLII):
This argument rests on the statement of Chief Justice McEachern in Shuey v. Miller [1992] B.C.J. No. 2051 at ¶22 that he was not persuaded that extinguishment under s. 3(6)(a) [then s. 3(5)(a)] of a right to realize upon collateral under a mortgage “extinguishes the ‘title’ of the mortgagee to the legal estate conveyed to him by the mortgage”.
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