How have the courts treated the issue of satisfactory title and escrowing of a mortgage?
Ontario, Canada
The following excerpt is from Trust and Loan Co. v. Ruttan, 1876 CanLII 5 (ON CA):
In the present case the fair inference from the evidence is, that it was expected on all sides that the title would be found satisfactory. The company would not, of course, pay over the money (or, what was the same thing in this instance, release the prior mortgages), till the title was reported to be satisfactory, but that practice, as was said in Xenos v. Wickham, cannot without more have the effect of converting delivery as a deed into delivery as an escrow, and of making that which would otherwise be an absolute into a conditional delivery.
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