Question
If the lawyer for the Seller has given an undertaking to the Buyer's lawyer to pay out the non-permitted encumbrance, namely a mortgage registered when
If the lawyer for the Seller has given an undertaking to the Buyer's lawyer to pay out the non-permitted encumbrance, namely a mortgage registered when the Seller was the owner, which of the following BEST describes the steps that must be taken by the lawyer for the Seller in relation to the non-permitted encumbrance:
Question 1Answer
a.Payout the non-permitted encumbrance, obtain the discharge of mortgage and send it to the Buyer's lawyer.
b.
Send out a reporting letter to the Seller, prepare an account and close the file.
c.
Pay out the non-permitted encumbrance and after registering the discharge from the lender, provide the certified copy of title to the Buyer's lawyer evidencing the discharge of mortgage.
d.
Pay out the non-permitted encumbrance and close the file.
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