Is a mortgage valid if it is a demand mortgage and only prepayments are made within the 10 year period?
Ontario, Canada
The following excerpt is from Bonner v. Bonner, 2012 ONSC 2538 (CanLII):
In the Alter v. Csontos case the mortgage was held to be valid. It was a demand mortgage and demand was made within the ten year period. The mortgage also provided for prepayment and no interest and a due on assignment clause.
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