Project

The Calculation of Interest on Foreclosure (1980)

Project Status: LRC Reports
Project Contact: British Columbia Law Institute
Telephone Number: (604) 822-0142
Email Us About this Project

Overview

Keywords: calculation; interest; foreclosure; mortgage; redemption; accounting; registrar; notice; land; order; nisi; sale; default; remedy

A mortgagor who wishes to redeem land that is subject to a foreclosure proceeding must, among other things, pay the interest that has accrued on the loan. This project concerns a divergence that had developed in the courts on how such interest should be calculated. Should the interest be payable only to the date of redemption? Or should it be payable for the entire redemption period, which typically runs for six months?

This website and its publications are not legal advice. Need legal assistance? Visit our Resources page.

Reports

47. Report on The Calculation of Interest on Foreclosure

Download document (255 KB)

Backgrounders

Report on the Calculation of Interest on Foreclosure

Download document (72 KB)


Website by: Usable Web Designs