Landry v. Rich

Landry v. Rich

The Rich Mortgage (registered as EW141515) is valid and in default; the appropriate amounts owing were calculated separating the secured mortgage principal from other shared-expense shortfalls because the co-ownership agreement's interest provision is unenforceable for uncertainty; accordingly an order nisi of foreclosure is granted with redemption date November 30, 2014, judgment for $46,741.74 (mortgage) plus $9,299.88 (down payment balance and expenses) and alternative remedy to purchase under clause 2.01 approved subject to court approval after redemption period.

Citation
2014 BCSC 935
Parties
Petitioner/mortgagee: Larry Harry Landry; Respondent/mortgagor: Wanda Anne Rich
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
29 May 2014
Procedural Posture
Consolidated Foreclosure Petition and Civil Action for Breach of Contract/co Ownership / Reasons for Judgment (final)
Outcome
Petition allowed; order nisi of foreclosure granted; redemption date set; alternative purchase remedy preserved; Ms. Rich's action dismissed; counterclaim dismissed.
Legal Topics
Foreclosure, Co Ownership Agreement, Mortgage Default, Interest Calculation, Remedies, Redemption Period, Unenforceable Contract Clause
Source Language
English
Property Law Contract Law Equity Civil Procedure Mortgage Law Foreclosure Co Ownership Agreement Mortgage Default +4 more

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Parties

Larry Harry Landry

Petitioner/mortgagee

Wanda Anne Rich

Respondent/mortgagor

Procedural Posture

Consolidated Foreclosure Petition and Civil Action for Breach of Contract/co Ownership / Reasons for Judgment (final)

Legal Issues

  1. 1 Whether the Rich Mortgage is valid and in default
  2. 2 What amount is owing under the mortgage and other shared-expense claims
  3. 3 Whether the sale agreement or mortgage created an obligation to subdivide

Ratio Decidendi

The Rich Mortgage (registered as EW141515) is valid and in default; the appropriate amounts owing were calculated separating the secured mortgage principal from other shared-expense shortfalls because the co-ownership agreement's interest provision is unenforceable for uncertainty; accordingly an order nisi of foreclosure is granted with redemption date November 30, 2014, judgment for $46,741.74 (mortgage) plus $9,299.88 (down payment balance and expenses) and alternative remedy to purchase under clause 2.01 approved subject to court approval after redemption period.

Court Disposition

Petition allowed; order nisi of foreclosure granted; redemption date set; alternative purchase remedy preserved; Ms. Rich's action dismissed; counterclaim dismissed.

Orders

  • The Mortgage dated April 8, 2005 between Wanda Rich and Larry Landry registered as No. EW141515 charging P.I.D. 005-788-536 Lot 8, Block 29, Comox District, Plan 6763 is in default and the last date for redemption shall be November 30, 2014.
  • The amount due under the Mortgage is $46,741.74 plus pre-judgment interest running from October 1, 2011 to the date of the order and post-judgment interest to the date of payment.