Can a mortgagee sell to itself under a power of sale?
Ontario, Canada
The following excerpt is from 1173928 Ontario Inc. v. 1463096 Ontario Inc., 2018 ONCA 669 (CanLII):
The trial judge described this as a “general statutory provision” that is “subject to the more restrictive statutory provisions and common law principles imposed on mortgagees as transferors.” She identified one such limit in the common law: a mortgagee cannot sell to itself under a power of sale, citing Farrar v. Farrars Ltd. (1888), 40 Ch. D. 395 (Eng. C.A.).
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