Can a mortgagor redeem a mortgage where there are several successive mortgages?
British Columbia, Canada
The following excerpt is from Bank of Montreal v. Oldroyd et al., 2005 BCSC 1070 (CanLII):
In Teevan v. Smith (1882) 2 Chancery Division 724 (CA) Jessel, M.R. held that where there are several successive mortgages, the mortgagor can redeem the last mortgage but cannot redeem the first mortgage without also redeeming all the other mortgages.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
When is a mortgagee's right to redeem a second mortgage? (British Columbia, Canada)
What is the definition of “substantial success” in the context of success for costs purposes? (British Columbia, Canada)
What is considered substantial success when it comes to calculating the proportion of substantial success? (British Columbia, Canada)
Does a mortgagee have to continue to collect rent from the first mortgagee, even if the mortgage was registered prior to the registration of the mortgage? (British Columbia, Canada)
What are the implications of a mortgage where the mortgage is secured by a third party mortgagee? (British Columbia, Canada)
Does the Court have jurisdiction to award costs for substantial success based on substantial success? (British Columbia, Canada)
What is the test for “substantial success” in determining whether either party had a good chance of success in their claim? (British Columbia, Canada)
What is the legal test for a successful party to recover costs from the successful party? (British Columbia, Canada)
Does a delay in obtaining costs from a mortgage holder's mortgage indebtedness constitute prejudice? (British Columbia, Canada)
What is the test for severance under the doctrine of severance? (British Columbia, Canada)
