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This answer was rated:

Of there is a shortfall after a mortgage shortfall is a

Hi of there is...

Hi of there is a shortfall after a mortgage shortfall is a deficiency claim automatic or does the creditor still have to obtain a judgement? And if so is there a statue of limitations after which they cannot obtain this judgement? This is a question related to a testamentary issue where the deceased was disclosed but we have heard nothing else from the creditor since then. We are in Montreal.....

Lawyer's Assistant: Because laws vary from place to place, can you tell me what state this is in?

Montreal, Quebec

Lawyer's Assistant: Has anything been filed or reported?

I searched last week and only see the foreclosure on the public records

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

That would be it. To see if it's safe for the beneficiaries of the estate to accept the estate of not. If it's prescribed then it's worth it. If it isn't then they won't accept the estate

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Customer reply replied 7 months ago
is there a prescription period beyond which they can't ask for a dificiency judgement Quebec? Would a deficiency judgement have the same time limitations as other judgements? Or is a dificiency judgement an automatic thing after a mortgage shortfall?
Customer reply replied 7 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
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Debra
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Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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I am sorry for your loss.

Is the mortgage registered on title?

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Customer reply replied 7 months ago
There was a registered collateral on the property for a loan
Customer reply replied 7 months ago
They seized the property eight years ago but there was a shortfall.Just wondering if try still have to initiate a claim and if the time period is prescribed.

It is too late to sue if they seized the property 8 years ago. Their claim started then. It is too late now.

So the estate cannot be successfully sued for the deficiency.

Does that fully answer your question?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 7 months ago
Thank you. So then after a collateral seizure the process is still to attempt a deficiency judgement within the prescribed period? It's not an automatic thing in understanding...?

They have no authority to seize any assets other than the assets used for security.

They cannot sue as it's too late.

So the matter is over.

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