Mortgage issues are often a “thorn” in the administration of an estate, particularly when parallel estate disputes are ongoing. A mortgage renewal or payout may be time-sensitive, yet the estate remains in flux with a protracted estate dispute that casts into doubt the authority of the executor, or have preserved the assets of the estate, making a mortgage renewal difficult, and risking the mortgagee commencing a power of sale proceeding. Further, there may be opposition to the estate trustee encumbering estate assets through its powers under the Will or the Trustee Act. Selling estate properties and discharging the mortgages can be equally fraught where there is a dispute over the value of the payout. This seminar reviews the rights and obligations of estate trustees in managing encumbered property, including decisions around refinancing, sale, or discharge of mortgages. It also discusses how to address the issue of dealing with mortgage renewals or payouts while parallel estate disputes, or disputes related to the mortgage itself, remain unresolved.

Topics

• Defending Against Power of Sale Proceedings
• Keeping the mortgage in good standing when there is no executor
• Challenging interest or principal owing on behalf of the Estate