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Wraparound Mortgage for Condominium | Canada

The wraparound mortgage covers the entire condo project.
The loan includes the remaining balance of an existing first mortgage plus an additional amount requested by the mortgagor (borrower).
Full payments on both mortgages are made to the wrap around mortgagee (lender), who then forwards the payments for the first mortgage to the first mortgagee.
Interest is calculated and compounded monthly.
Property taxes are to be paid by the mortgagor in 12 equal monthly instalments.
The mortgagee may pay the taxes as they come due and charge interest at the mortgage rate on any debit balance in the tax account.
To access this legal form, add it to your cart and click the Checkout button to pay for the form. You can then download it.
Intended for use only in Canada.

$29.99

The agreement is between the various investors (co-owners of undivided interests in the syndicated mortgage), a trustee holding the land and an agent acting on behalf of the co-owners.
The co-owners grant the agent power to act as attorney on their behalf with respect to leasing, subdividing, rezoning, sale or otherwise dealing with the lands which are subject to the mortgage.
The mortgaged lands are registered in the name of the trustee, who holds the lands in trust for the co-owners. The co-owners each hold an undivided interest in the lands as tenants-in-common.
The agent will collect funds under the mortgage on behalf of the co-owners and make distributions to the owners from those funds.
The agreement provides for meetings of co-owners, and the keeping of books, records and financial information by the agent.
This form is part of the paperwork required for a syndicated mortgage investment in Canada.

$29.99

The offering will be made to Canadian residents who want to invest in the syndicated mortgage. Information contained in the memorandum includes:
- encumbrances which are allowed to be registered against title to the land,
- information relating to the land and the proposed development,
- the corporate history and details of the parties involved (lender, land developer),
- details of the purchase and sale agreement for the land,
- details of the co-owner agreement among all the co-owners
- a warning to investors about the speculative nature of the investment.
This template is available as a fully editable MS Word document. Intended for use only in Canada.

$17.99

The offer is made by an investor who wants to purchase an undivided interest in a syndicated mortgage investment.
The offer contains representations and warranties given by each party.
The purchaser, as a co-owner of the lands, directors that title be held in trust by the trustee appointed under the Co-ownership Agreement made among all the co-owners.
The purchaser grants the vendor an unconditional irrevocable option to repurchase the interest for the purchase price.
This legal form template is downloadable and editable.
Intended for use only in Canada.

$17.99

The purchasers declare that they do or will occupy the property as their principal residence and will not turn it into a rental property.
The mortgage lender will require this Declaration as evidence that the purchasers plan to live on the property, as a condition of granting the mortgage.
This form can be used in any Canadian province or territory.
This is a free digital download.

$0.00

This form is typically used when a mortgaged property is being sold and the mortgage is being paid out from the sale proceeds.
The Statement sets out the principal and interest amounts owing up to the date of the statement, with a per diem thereafter, and the terms of repayment.
This is a free downloadable MS Word document.
Intended for use only in Canada.

$0.00