A large part of our practice is dedicated to protecting the rights of private lenders and finding solutions that will protect their interests and meet their business goals.
Too often, the court seems to take the view that the troubles faced by creditors are not as serious as those faced by debtors, because in the end most mortgage contracts in Canada are designed to ensure that lenders are protected. However, the process of protecting lender rights can be onerous and expensive, particularly for private lenders.
While your debtors take legal steps to delay having to pay — and deplete their own funds paying for lawyers to do so — you may have to find appraisers and property managers to ensure the property is properly priced and maintained. If you are not familiar with the steps involved in asserting your rights and the time periods involved, you may lose several months of payments on your property, and possibly lose out on prime selling season. With courts clogged and the first possible summary judgment dates being several months in the future, you stand to lose a significant amount of money.
At Yigal Rifkind, Barrister & Solicitor, we have experience facing judges and enforcing rights. We can defend your interests far more efficiently, and minimize your losses.
It's About Efficiency
As part of mortgage enforcement, we can help you:
- Issue documents such as demand letters, statements of claim, writs of possession and notices of sale
- Push for resolution sooner rather than later
- Correct any title issues
- Deal with any other mortgages on the property
- Explain your legal obligations with regard to sale of residential or commercial property
- Proceed with foreclosure actions
- Get a judgment on the promise to pay
- Get payment for shortfall on the sale of a property
- Convey title to a new purchaser
If you choose to sell the property, we can also help you decide whether to sell it pursuant to private power of sale provisions (which may be the fastest and most efficient route) or as part of a judicial sale action (which may have advantages such as protecting you from liability).
Use our experience. Let us help you get results.
Contact Yigal Rifkind, Barrister & Solicitor
We can help you enforce your mortgage in the Greater Toronto Area and nearby regions of Ontario. Call us at 416-222-4597 or fill out our online form.
Land Transfer Calculator
