What can you do when there is a delay in a mortgage discharge?
The Canadian Bankers Association has a list of bank officials to contact regarding the discharge of mortgages.
Real estate lawyers discharge mortgages when acting for their vendor clients in a transaction. They typically give an undertaking to the purchaser’s lawyer to obtain and register the discharge and report to the lender within 60 days of the registration of the mortgage, or within such other time period as instructed by the lender. This reporting is required even if the existing encumbrance for which an undertaking to discharge was obtained remains unregistered.
Hopefully, a delay is an unusual event but just in case, it’s good to know who you can ask for help. The updated list has been posted on the Law Society website.