Products tagged with 'postponement form'
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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.
$6.29
Subordination Agreement (long form)
Prepare a Subordination Agreement between two lenders with this long form template.
- The purpose of the Subordination Agreement (also called a Postponement Agreement) is to induce a new lender to extend a loan to a borrower.
- One lender (postponing creditor) agrees to subordinate and postpone its security interest under a loan agreement or similar instrument to the interest of a second lender (senior creditor) until the indebtedness owing to the senior creditor has been satisfied.
- If the borrower's assets are distributed among its creditors, the indebtedness owing to the senior creditor would be paid out first, before distribution to any other creditors.
- If the borrower is not in default under its obligations to the senior creditor, it may continue to make payments to the postponing creditor in accordance with the terms of the agreement.
- If the borrower is in default under its obligations to the senior creditor, no payments on the subordinated indebtedness shall be made by the borrower. If the postponing creditor receives any such payments, it must pay them over to the senior creditor.
- This generic Subordination Agreement is provided in MS Word and is fully editable to meet your needs.
$17.99
Nova Scotia Postponement Agreement
Use this template to prepare a Postponement Agreement between two mortgage lenders holding mortgages on the same property in Nova Scotia.
- The parties agree that the second mortgage will take priority over the first mortgage.
- The first mortgagee agrees to postpone its security, in return for the second mortgagee paying the first mortgagee a specified sum.
- The template can be re-used over and over again, and edited to fit your business' requirements.
- Available in MS Word format.
- Intended to be used only in the Province of Nova Scotia, Canada.
$6.29
