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June 2009
Quebec - The below forms have been amended. Please ensure you use the current documents on the website.
03991 / 53991 - DEED OF RESIDENTIAL HYPOTHECARY LOAN (Fixed Rate)
03992 / 53992 - Deed of Residential Hypothecary Loan (Variable Rate)
03993 / 53993 - Deed of Residential Hypothecary Loan (RateCapper)
May 2009
The 04176/54176 Builders/Construction Mortgage Additional Instructions and the 04180/54180 General Instructions To Lawyer/Notary have been amended. Please ensure you review only the current document on the website.
Form 04176 – Residential Mortgages – Builders/Construction Mortgage Instructions – All Provinces
Several changes have been made to the first three pages of these documents to capture changes permitting the first advance to be used to purchase land or withdraw equity from owned land. When the first advance is used for this purpose, the construction/mechanics lien does not apply. Instructions regarding mobile, modular, manufactured, prefabricated and panelized units have been revised.
Form 04180 – Residential Mortgages - General Instructions to Lawyer/Notary – All Provinces
Changes to Section 11, page 16 regarding mobile, modular, panelized, manufactured and prefabricated homes.
March 2009
Where available RBC Royal Bank can now deliver residential mortgage mandates using TELUS Assyst Real Estate solution at http://telus.assystrealestate.com/en/default.aspx.
Form 4180 General Instructions to Lawyer/Notary Residential Mortgages/Hypothecs
Form 03915 - General Instructions to Lawyer/Notary Collateral Mortgages
Forms 03958 and 53958 - All provinces - Collateral Mortgages
Forms 03328 and 53328 - All provinces - Residential Mortgages
November 2008
Direct Funding of Mortgage Proceeds to Trust Accounts - Update
Beginning in May 2008, RBC Royal Bank commenced using our RBC Express ACH Direct Deposit product to electronically fund lawyer/notary trust accounts and began phasing out our current practice of producing and distributing cheques and or drafts for the proceeds of mortgage transactions. In addition to the obvious benefit of being paperless and time efficient, our new electronic funding process will allow lawyers/notaries and their banker to see the funds in their trust account at the open of business on the associated closing date. We anticipate having full national deployment of our RBC Express ACH Direct Deposit funding solution by early 2009.
July 2008
Forms 00857 and 50857 - Letter of Independent Legal Advice
Please be advised that forms 00857 and 50857 are now available on the Lawyers and Notaries website in all provinces except Quebec.
Forms 03979 and 03980 - Northwest Territories - Residential Mortgages
Please be advised that the title of the Consent of Spouse page has been updated to reference Northwest Territories
June 2008
Direct Funding of Mortgage Proceeds to Trust Accounts
Beginning in May, RBC Royal Bank commenced using our RBC Express ACH Direct Deposit product to electronically fund lawyer/notary trust accounts and began phasing out our current practice of producing and distributing cheques and or drafts for the proceeds of mortgage transactions. In addition to the obvious benefit of being paperless and time efficient, our new electronic funding process will allow lawyers/notaries and their banker to see the funds in their trust account at the open of business on the associated closing date. We anticipate having full national deployment of our RBC Express ACH Direct Deposit funding solution by September of this year.
February 2008
Forms 03958 and 53958 - All provinces - Collateral Mortgages
Please be advised that the fax number on form 03958 and 53958, has been changed to: 1-866-718-1577: (Quebec fax number only)
February 2008
New Mortgage Assumption Procedures for Prospective Home Purchasers In Alberta
Effective February 29, 2008, all prospective home purchasers in the province of Alberta who wish to assume an existing RBC Royal Bank® residential mortgage must be qualified and approved through RBC Royal Bank's standard mortgage application process.
Through the standard credit application process, an experienced and knowledgeable mortgage specialist can guide the prospective home purchaser - answering questions, providing financial advice, and ensuring that the client is aware of and understands the terms and conditions of the mortgage they are assuming.
The seller also benefits from the change too - they can now be released from the mortgage on a property they no longer own, once the proposed purchaser is approved through the credit application process.
This change allows RBC Royal Bank to meet the anti money laundering regulatory requirements and ensures any existing mortgage default insurer’s policies, that may be in effect, are met. Opportunities for fraud will be reduced and potential fraudulent mortgage applications will be more easily identified. This will bring Alberta in alignment with the rest of Canada where full credit applications are completed for all RBC Royal Bank mortgage assumptions.
October 2007
Form# 03915 - Collateral Mortgages - General Instructions to Lawyer/Notary - All provinces
Page 1, St.Guarantee Insurance Company has changed their name from St. Paul Guarantee Insurance Company to Travelers Guarantee Company of Canada.
Form# 04176 - Residential Mortgages - Builders/Construction Mortgage Instructions - All provinces
Changes made to section 1, page 3, under the heading “Quebec Only”.
Form# 04180 - Residential Mortgages - General Instructions to Lawyer/Notary - All provinces
Several Changes
Approval of Mortgage and Cost of Borrowing Statement of Disclosure
Effective October 24th, 2007, all Approval of Mortgage and Cost of Borrowing Statement of Disclosure documents have been rewritten to make the documents easier to understand and review. We will continue to mail or fax the documents to you.
Lawyers Website For Payout Statement changes
Effective October 9th, 2007, Royal Bank of Canada will introduce redesigned Payout, Information and Assumption statements for Residential Mortgages, and RBC Homeline Plan® mortgage segments. Some of the changes are highlighted below:
- Payout funds must be received within 5 calendar days after the effective date of the Payout Statement for all provinces excluding Quebec or the statement will be null and void;
- The Payout Statement will indicate that the lawyers/notary is required to retain an amount equal to the regular payment amount for 10 calendar days after the payout funds are remitted. This requirement has been added due to the fact mortgagors from time to time fail to make the last payment prior to the payout date. If the final payment is not received, a discharge of the mortgage cannot be processed;
- Information statements are not valid for payout, transfer or assumption purposes, and are only valid on the day of issue;
- Assumption statements will provide confirmation if the current mortgage is delinquent, and the amount of the arrears required to be paid by the vendor. The arrears must be paid as a condition of the processing of the assumption of the mortgage.
It is advised that all conditions on the statements be reviewed to ensure compliance, in order to avoid delays in obtaining the discharge/transfer document, as required.
Forms – 53936 and 53937 – Residential Mortgages – All provinces
Minor changes have been made to paragraph 18, under “Choix de la Loi Applicable, on page (7). The word “du” has been deleted and replaced with “de la”.
August 2007
Where available RBC Royal Bank can now deliver residential mortgage mandates using Emergis' Assyst Real Estate solution at http://www.emergis.com/solutions/finance/real_estate/default.aspx.
Form 4180 GENERAL INSTRUCTIONS TO LAWYER/NOTARY Residential Mortgages/Hypothecs -- Updated
July 2007
Form 04231 and 54231 - Residential Mortgage - All provinces - EXCLUDING QUEBEC.
The reference made to "Standard Instructions to Lawyer" has been changed throughout the document to read "General Instructions to Lawyer/Notary" to reflect the correct terminology and to assure consistency.
Please be advised of the NEW forms added for the SWITCH Program for the Province of Quebec only, Residential Mortgage;
- Form #00715 and 50715 - Deed of Loan and
- Form #50718 - Quittance
June 2007
Form 1072 - Mortgage (Form 15) (Variable) - used in NB only - has been revised to correct a "typo".
Form 3929 (On page 4 ) - Alberta - Collateral Mortgages
On the bottom of Page 4,
- Deleted *This Commissioner is not to be an employee of Royal Bank of Canada or its subsidiaries.
- Deleted the *, [open and closed] brackets below the signature line for the Commissioner of Oaths.
Form 3953 (On page 4) - Alberta - Collateral Mortgages
On the bottom of Page 4,
- Deleted the margin note that read *This Commissioner is not to be an employee of Royal Bank of Canada or its subsidiaries.
- Deleted the *, [open and closed] brackets below the signature line for the Commissioner of Oaths. on the right hand side of the bottom of page 4
Form 3984 (On page 5) - Alberta - Residential Mortgages
On the bottom of Page 5 in the left margin - note deleted which read as follows:
- Deleted the margin note; *This Commissioner is not to be an employee of Royal Bank of Canada or its subsidiaries.
- Deleted the *, [open and closed] brackets below the signature line for the Commissioner of Oaths. on the right hand side of the bottom of page 5
May 2007
For Quebec Only - Holdback for legal hypothecs - The Bank's funding process has changed. The notary, not the Bank, is responsible for maintaining the holdback for legal hypothecs of persons who took part in the construction or renovation of an immovable. Please refer to our Builder/Construction Mortgage Additional Instructions (Form 4176 located on our legal documents website or through Assyst Real Estate) and manage the holdback in accordance with those instructions.
Form 1097/51097 - Landlord Consent - Please note that with regards to Form 1097/51097 - Landlord Consent the lawyer/notary is required to obtain Form 1097/51097 when completing a CLIP Site Lease transaction as outlined in Form 4181 - CHATTEL LOAN INSURANCE PROGRAM (CLIP) – Site Lease Property ADDITIONAL INSTRUCTIONS. This document must be obtained prior to funding.
Form 3328 REQUEST FOR FUNDS -- Updated
B.C. - Form 3950 - Postponement of Entitlement under Family Relations Act - updated to allow the fields to be completed electronically in the MS Word Document.
April 2007
Form 4180 GENERAL INSTRUCTIONS TO LAWYER/NOTARY Residential Mortgages/Hypothecs -- Updated
Standard Instructions to Lawyers/Notaries – Residential Mortgages/Hypothecs
Effective April 20, 2007, our Standard Instructions to Lawyers/Notaries – Residential mortgages/hypothecs will be divided into the following documents:
- General Instructions to Lawyer/Notary – Residential Mortgages/Hypothecs
- CLIP Mortgage – Site Lease Property – Additional Instructions
- Builders/Construction Mortgage – Additional Instructions
- Specific Instructions for all Residential Mortgages/Hypothecs
- Specific Instructions for all Builders/Construction Mortgages/Hypothecs
- Specific Instructions for all Chattel Loan Insurance Program (CLIP) Mortgages/Hypothecs
Most of the instructions/documentation required to complete the transaction will be available on this website with the exception of the Specific Instructions which we will mail or fax to you. Documents will continue to be available in Word and PDF formats.
February 2007
The column name of the "Documents for Lawyers and Notaries" website has been modified as follows:
| Column Currently Reads: | Revision Date |
| MM-DD-YYYY |
| New Column Name: | Website Last Updated: |
| MM-DD-YYYY |
Additional Instructions to Lawyer Leasehold Mortgages on Indian Lands (all provinces and territories except Quebec) - Form 4231 - is now available in WORD and PDF formats.
December 2006
B.C. - Collateral/RBC Homeline Mortgage Documents - Form 3915 - section 3.(b)(vii) updated
September 2006
SASKATCHEWAN - Form 3981 - section 7.2 (2) updated
COLLATERAL/RBC HOMELINE PLAN TM MORTGAGE DOCUMENTS
Effective September 15, 2006, collateral/RBC Homeline Plan mortgage documents will be available on this website. For each Province/Territory you will have the ability to select either residential mortgage documents or collateral/ RBC Homeline Plan mortgage documents. All documents will continue to be available in Word and PDF formats.
August 2006
UPDATE : WESTERN LAW SOCIETIES CONVEYANCING PROTOCOL
RBC has launched the Conveyancing Protocol for British Columbia, Alberta, Saskatchewan and Manitoba. Effective immediately: RBC will be accepting the Conveyancing Protocol for Residential and Construction Mortgages. RBC will extend this Protocol to include RBC Homeline Plan and Collateral Mortgages at a date to be determined. Please ensure the Protocol instructions are completed as indicated on the document located under the appropriate province.
PAYOUT STATEMENT REQUESTS
Effective immediately, when a residential mortgage payout statement request is received earlier than 10 calendar days prior to the closing date, RBC will fax an acknowledgement to the originator, indicating a date on which the request will be completed.
June 2006
Certain documents have been updated. Please continue to refer to the specific province/territory for most recent versions.
May 2006
UPDATED : REFER AUGUST 2006: WESTERN LAW SOCIETIES CONVEYANCING PROTOCOL
MORTGAGE EXECUTED UNDER A POWER OF ATTORNEY
RBC has added instructions for mortgages executed under Power of Attorney for all provinces and Territories. Please ensure instructions are completed as indicated for all mortgages executed under a Power of Attorney.
April 2006
UPDATED - REFER MAY 2006: WESTERN LAW SOCIETIES CONVEYANCING PROTOCOL
RBC has launched the Conveyance Protocol for BC, Alberta, Saskatchewan and Manitoba. Effective immediately: Please ensure the Protocol instructions are completed as indicated on the document located under the appropriate province.
March 2006
VARIABLE RATE MORTGAGE
New Variable Rate mortgage documents have been added under all Provinces and Territories. This is part of a new Variable Rate Closed mortgage product, launched by RBC on March 17, 2006.
February 2006
PDF FORMAT NOW AVAILABLE
All documents are now available in both WORD and PDF format as read only.
FACSIMILE TRANSMISSION
Effective March 17, 2006, RBC Royal Bank® will send Standard Instructions to Lawyer/Notary and other RBC Royal Bank documents not on the website (e.g. approval of mortgage documents) for all residential mortgage transactions by electronic facsimile transmission. The faxed documents are to be used in lieu of original documents.
If a copy of a bank draft is included in the facsimile transmission, the original will follow. If no copy of a bank draft is included, please read the Standard Instructions to Lawyer/Notary for more information.
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