Sayre & Gilfoy v. Security Trust Co.

Sayre & Gilfoy v. Security Trust Co.

The court (by equal division) upheld the Appellate Division's construction that the contested master's order, as construed by that court, did not operate as a foreclosure extinguishing the debt under s.62b of the Alberta Land Titles Act and thus the mortgagee could pursue the balance under the terms as construed; however the order involved matters of practice that could properly have been set aside and a de novo proceeding directed.

Citation
(1920) 61 SCR 109
Parties
Appellants: A. Judson Sayre and William M. Gilfoy; Respondents: The Security Trust Company and others
Court
Supreme Court of Canada
Jurisdiction
Canada
Judgment Date
21 June 1920
Procedural Posture
Mortgage Foreclosure Appeal / Supreme Court of Canada on Appeal From the Appellate Division of the Supreme Court of Alberta
Outcome
Appeal dismissed; judgment of the Appellate Division affirmed on equal division of the Court; no costs in this Court.
Legal Topics
Foreclosure, Sale to Mortgagee, Execution on Covenant, Interpretation of Land Titles Act S.62 and S.62b, Practice and Procedure in Mortgage Actions
Source Language
English
Property Law Mortgage Law Equity Civil Procedure Land Registration Law Foreclosure Sale to Mortgagee Execution on Covenant +2 more

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Legal principles 4 Authorities cited 13 Party arguments 2 Amounts and remedies 3
Sign in to unlock

Parties

A. Judson Sayre and William M. Gilfoy

Appellants

The Security Trust Company and others

Respondents

Procedural Posture

Mortgage Foreclosure Appeal / Supreme Court of Canada on Appeal From the Appellate Division of the Supreme Court of Alberta

Legal Issues

  1. 1 Whether an order vesting mortgaged land in the mortgagee as purchaser at a named price with leave to issue execution for the balance operates as a foreclosure extinguishing the debt under s.62b of the Alberta Land Titles Act
  2. 2 Whether a mortgagee who becomes purchaser of the mortgaged land can still pursue the mortgagor personally for the balance of the mortgage debt
  3. 3 Whether a sale to the mortgagee constitutes a 'sale' within s.62(2) preventing execution until application of purchase moneys

Ratio Decidendi

The court (by equal division) upheld the Appellate Division's construction that the contested master's order, as construed by that court, did not operate as a foreclosure extinguishing the debt under s.62b of the Alberta Land Titles Act and thus the mortgagee could pursue the balance under the terms as construed; however the order involved matters of practice that could properly have been set aside and a de novo proceeding directed.

Court Disposition

Appeal dismissed; judgment of the Appellate Division affirmed on equal division of the Court; no costs in this Court.

Orders

  • Appeal dismissed
  • No costs in this Court