Banking Updates

Great news!  We have been advised that at least two the major banks will now accept documents signed remotely.

Scotiabank has issued a statement to lawyers available here in English and here in French con firming that signing mortgage documents and identity verification can be done by video conference in certain circumstances. Lawyers who work with Scotiabank should have received the statement through either a posting on Telus Assyst or by email from FCT. Please review the statement to confirm the requirements for meeting with clients by video-conference on a transaction involving a Scotiabank mortgage.

Royal Bank of Canada has also issued a notice via Telus Assyst that video conference meetings to verify identity and sign documents are permitted in certain circumstances. A copy of the notice is available here.  Please review the statement to confirm the requirements for meeting with clients by video-conference on a transaction involving a RBC mortgage.

We are very pleased to see these announcements and are hopeful that other lenders will follow suit.

LRO Updates

The Director of Titles has provided further guidance relating to some specific questions he has received. 

See his letter of April 9, 2020 here relating to original signatures being required on plans and paper documents.

See his letter of April 13, 2020 here relating to expropriations.

See his letter of April 14, 2020 here relating to requests to expedite certification of parcelization transfers or PIN splits.

If and when we receive further information of interest to the real estate bar, we will pass it along. 

Stay up to date with FOLA’s real estate information at https://fola.ca/real-estate-law.

Merredith MacLennan and Eldon Horner, FOLA Real Estate Co-Chairs

Please note: The information provided herein is of a general nature only and is not intended to provide legal advice.