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» Additional Instructions to Lawyers/Notaries
» News & Information (June 10, 2019)
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Personal Mortgages - Documents for Lawyers and Notaries

News & Information

 

June 10, 2019

Effective Monday, June 10, 2019, Royal Bank of Canada mortgages must identify if they secure an RBC Homeline Plan. As a result, the General Instructions to Lawyer/Notary and all collateral mortgage forms have been updated.

3915 (06-09-2019) - General Instructions to Lawyer/Notary - Collateral Mortgages/Hypothecs - All Provinces, Except Quebec and New Brunswick

3915/53915 QC/NB (06-09-2019) - General Instructions to Lawyer/Notary - Collateral Mortgages/Hypothecs Quebec and New Brunswick Only

  • In all provinces except Quebec, lawyers and notaries must select between a mortgage which secures all obligations or a mortgage which secures an RBC Homeline Plan. Changes have been made in Section 3, "Mortgage Preparation", for all provinces and/or territories.
  • B.C. - Also in the General Instructions to Lawyer/Notary for all provinces, there is a new attachment 1 at the end of the Form 3915 (06-09-2019) General Instructions which provides instructions to complete the British Columbia Form E schedule.
  • For Quebec, for hypothecs granted to secure an RBC Homeline Plan, notaries must use the Deed of Hypothec - Specific Indebtedness Form 4165/54165 (06-09-2019). Changes have been made to the General Instructions to Lawyer/Notary, Section 3, "Mortgage Preparation"

Mortgage Forms:

Amendments have been made to mortgages and to standard charge terms (where applicable). These changes include provisions for mortgages securing an RBC Homeline Plan Agreement, and a new clause in the "Enforcing our rights" (in Quebec, "Defaults") section

Quebec

  • If the hypothec secures an RBC Homeline Plan: You must use deed of hypothec Form 4165/54165 (06-09-2019). In section 2 ("Secured Obligations"), subsection 2.1 ("Description"), there is a new paragraph for RBC Homeline Plan. Three new fields must be entered
    • RBC Homeline Plan limit
    • Date the client signed the RBC Homeline Plan Agreement
    • RBC Homeline Plan account number
  • If the hypothec secures obligations other than under an RBC Homeline Plan: All mortgages on immovable property in Quebec must use the deed of hypothec Form 4165/54165 (06-09-2019) for variable rate or Form 3923/53923 (09-15-2006) for fixed rate in the following circumstances:
    • The hypothecary debtor is a natural person
    • The deed of hypothec will be registered and the loan advanced, or the suretyship signed, on or after August 1, 2019.
    • In Section 2 ("Secured Obligations"), subsection 2.1 ("Description"), select the appropriate paragraph (Loan, Line of Credit or Suretyship) and insert details of the specific obligations secured by the deed of hypothec

For all provinces and territories, except Quebec:

Changes include a distinction between a mortgage that secures all obligations, and a mortgage that secures an RBC Homeline Plan. When preparing the mortgage the lawyer must select the appropriate paragraph. Please use the mortgage forms having a revision date of (06-09-2019) which will be available on our website on June 10, 2019. For provinces with standard charge terms, please note the new filing number.

In addition:

Alberta Form 3928 (06-09-2019) - Collateral Mortgage Prime Rate - A new Schedule A has been added to disclose whether the mortgage secures all obligations or RBC Homeline Plan

New Brunswick Form 3951/53951 (06-09-2019) - Collateral Mortgage - Form 15.1 - Prime Rate - Schedule D has been updated to select and disclose whether the mortgage secures all obligations or RBC Homeline Plan

Ontario Form 3952 (06-09-2019) - Schedule of Additional Terms - Prime Rate - Amendments to disclose whether the mortgage secures all obligations or RBC Homeline Plan


January 2, 2018

Effective Immediately - for Mortgage Preparation in the Province of Manitoba.

Form 4180 - All Provinces except Quebec and New Brunswick: Section 3, (c) (iv) should read as follows:

  • For Variable rate mortgages, in the Prime Rate is defined as field of Box 5 of the Mortgage Form, insert "See Details in the Other Details field below"
  • In the Other Details field under the Scheduled Payments option in Box 5 of the Mortgage Form insert the definition of Prime Rate found in section 1 of the Standard Charge Terms, available on our legal forms website

The following General Instructions to Lawyer/Notary will be updated in due course:

  • 4180 - All Provinces except Quebec and New Brunswick- section 3 (c) (iv)

Form 3915 - All Provinces except Quebec and New Brunswick: Section 3, (c) (iii) should read as follows:

  • In Box 5 of the Mortgage Form, select the Payable on Demand option and complete using the information from our Specific Instructions. Please refer to our Standard Charge Terms, available on our legal forms website, for the land titles number and name. For mortgages having a variable rate of interest, in the definition of "Prime Rate" in Box 5 of the Mortgage Form in the Prime Rate is defined as field of Box 5 of the Mortgage Form, insert "See Details in the Other Details field below". In the Other Details field under the Scheduled Payments option in Box 5 of the Mortgage Form insert the definition of Prime Rate found in section 1 of the Standard Charge Terms, available on our legal forms website

The following General Instructions to Lawyer/Notary will be updated in due course:

  • 3915 - All Provinces except Quebec and New Brunswick- section 3 (c) (iii)

December 5, 2017

In the province of Quebec, La Garantie Habitation des Maîtres Bâtisseurs (GHMB) has been added as an additional new home warranty provider for hypothecs insured by a mortgage default insurer. La Garantie Habitation des Maîtres Bâtisseurs (GHMB) will be added to the following General Instructions to Lawyer/Notary in due course as an approved provider of a certificate of guarantee for new residential buildings:

  • 4180 - Quebec & New Brunswick Only - section 8(e)(i)
  • 54180 - Quebec & New Brunswick Only - (section 8(e)(i)
  • 3915 - Quebec & New Brunswick Only - section 8(d)(i)
  • 53915 - Quebec & New Brunswick Only - (section 8(d)(i)

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06/04/2019 09:30:01