The Canadian Bankers Association has a list of bank officials to contact regarding the discharge of mortgages, which was last updated on January 28, 2019.
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.
Please log in to read the full article.