Document background
The Real Estate Mortgage Form is a crucial legal document used across Canadian jurisdictions when securing a loan against real property. It is required whenever a lender provides financing for property purchase or when using real estate as collateral for a loan. The document must comply with both federal regulations (such as the Bank Act and Interest Act) and provincial property laws. The form includes detailed information about the property, parties involved, loan terms, security arrangements, covenants, and enforcement rights. It serves multiple purposes: creating a legally enforceable security interest, protecting the lender's rights, defining borrower obligations, and meeting regulatory requirements for mortgage registration. The document must be properly executed and registered with the appropriate land registry office to be legally effective.
