What is the effect of consolidating two mortgages into a single large mortgage registered on March 4, 2013?
Ontario, Canada
The following excerpt is from Cosa Nova Fashions Ltd. v. The Midas Investment Corporation, 2021 ONCA 581 (CanLII):
While there were initially two mortgages, one for each property, the second mortgage was used to pay out the first mortgage, thereby consolidating the two into a single, large mortgage registered on March 4, 2013: Thomas Farrell v. John Kavanagh, 2020 ONSC 8154, at paras. 1-2.
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