Can an assignee of a mortgage rely on power of sale proceedings commenced by the mortgagee prior to the assignment?
Ontario, Canada
The following excerpt is from 2575105 Ontario Inc. v Diversified Capital Inc., 2017 ONSC 3809 (CanLII):
In Emedi v. McMaster (1982), 25 R.P.R. 41 (Ont. H.C.J.) Trainor J. decided: "an assignee of a mortgage cannot rely on power of sale proceedings commenced by the mortgagee prior to assignment where no notice of such assignment has been given, and where it fails to comply with Form 1 in that it fails to provide notice of the assignment. An interim injunction is to be issued restraining the assignee of the mortgage from proceeding under the power of sale ..." (emphasis added)
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