Prepare a Purchaser's Acknowledgement and Consent to Postponement of Caveat with this template form for Alberta.
Alberta Purchaser's Acknowledgement and Consent to Postponement of Caveat
- The purchaser of a real estate property consents to the postponement of its Purchaser's Caveat to a mortgage, meaning that the mortgage will take priority over the caveat.
- This consent will extend to all advances under the mortgage, any amendment to the mortgage, and to any new mortgage registered by the mortgage lender (mortgagee).
- The purchaser also releases and indemnifies the lawyers acting on behalf of the mortgagee and covenants not to sue them with respect to the postponement.
- This consent is given as an inducement to get the mortgage lender to advance the mortgage loan, which the purchaser requires in order to buy the property.
form, available in Microsoft Word format. Fully editable to meet your needs.
Last Updated: 14-April-2016