Alberta Purchaser's Consent to Postponement of Caveat
Prepare a Purchaser's Acknowledgement and Consent to Postponement of Caveat with this template form for Alberta.
- 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.
- The form is available in MS Word format.
- Intended for use only in the Province of Alberta, Canada.
Last Updated: 29-June-2021