Foreclosure Handling Across Canada

In Canada, each and every province has its own way of handling foreclosures. There are two main methods judicial sale and Power of Sale. Following is a list of how each of the ten provinces deals with the foreclosure process:

Alberta—————– Judicial Sale
B.C ——————— Judicial Sale
Manitoba ————– Judicial Sale
New Brunswick —— Power of Sale
NFLD/Labrador —— Power of Sale
Nova Scotia ———– Judicial Sale
Ontario—————– Power of Sale
P.E.I. ——————- Power of Sale
Quebec—————– Judicial Sale
Saskatchewan——— Judicial Sale

Judicial sale is a sale conducted under the supervision and authority of the court, where a lender must apply to the court to get the court’s permission to sell the property.

Power of sale allows a lender to sell property without the involvement of the court. The lender has the right to sell the property from the mortgage document and/or provincial legislation which authorizes power if sale in that province  

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