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Ontario Canada, notice of purchase and sale is expiring. Questions
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pm__puffy_nips is
in
Chase, Canada
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Five years ago we bought a house on a privately held mortgage. Notice of purchase and sale, full ownership transfer etc. The holder has since passed and the "mortgage " has passed to his daughter.
The five years is almost up and the daughter has stated she is fine to continue with the same interest rate and the same biweekly payments. I understand this is not like a lease but, you can switch to month to month upon expiration of a lease without resigning. Can you do the same with a mortgage/notice of purchase and sale?
We are fine renewing but, if I dont have to put out $3000 in legal fees again it would be beneficial.
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- 4 years ago
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