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Category: Canada Law
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my ex-husband and I have property together. we have a written

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my ex-husband and I have property together. we have a written aggreement that when at time of morgage renewal he will pay me a specified amount and I will remove my name from title. Now he is not qualified to carry morgage alone. My question is, will the bank have forced sale if he is unable to get a morgage? This is in the province of B.C

No, they will not have a forced sale. The mortgage will continue on, with payments to be at a higher interest rate. This is the usual term in a mortgage anyway, that if it is not renewed or the principal amount repair in full when the term is up, that the payments continue but based on a higher interest rate than you may have paid up to now. The sale is only forced if you go into default with the regular monthly payments.
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Customer: replied 4 years ago.

can my name be removed from title without my approval?