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» Additional Instructions to Lawyers/Notaries
» News & Information (August 23, 2021)
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Personal Mortgages - Documents for Lawyers and Notaries

News & Information

 

August 23, 2021

NOTICE: Due to the recently announced National Day for Truth and Reconciliation for federally regulated workers that will be observed as a statutory holiday on September 30, Payments Canada has announced the closure of the payments system on September 30th. As such, RBC will not accept any new transactions closing September 30, 2021. Please amend closing dates to a standard business day. For transactions which may have already been submitted and approved by RBC, please work on a best efforts basis with clients to amend the closing date to a standard business day.


July 19, 2021

Effective July 19, 2021 please note we have implemented changes to how to make a mortgage statement and discharge/transfer request. Please visit the Mortgage Statement and Discharge/Transfer Portal link under the Quick Links section located on the left hand ribbon of this page for all the important details.


March 31, 2021

Effective March 31, 2021 the following General Instructions to Lawyer/Notary have been amended to reflect the change/addition below where applicable:

  • 04180 - All Provinces except Quebec and New Brunswick
  • 04180 - Quebec and New Brunswick
  • 54180 - Quebec and New Brunswick
  • 03915 - All Provinces, except Quebec and New Brunswick
  • 03915 - Quebec and New Brunswick
  • 53915 - Quebec and New Brunswick

The section Corporation As Mortgagor has been amended to exclude as co-borrowers/ guarantors any shareholders who are minors on the date of the transaction.


December 17, 2020

Change to deed of hypothec securing an RBC Homeline Plan:

Changes to the Regulation respecting land registration will come into force on February 1, 2021. In anticipation of this change you are instructed to make the following change to the Deed of Hypothec, Form 4165/54165:

  • In section 2.1, in the paragraph describing the secured obligations for hypothecs securing an RBC Homeline Plan, delete the following words: and referenced with your RBC Homeline Plan Number (#), as such number may be replaced or amended from time to time.

Consequently, please disregard section 1(p)(2) of our Specific Instructions Notary, 2nd bullet point, regarding the Homeline Plan Number.

The Deed of Hypothec, Form 4165/54165, and our Specific Instructions to Notary, will be updated in due course.


July 23, 2020

Effective immediately, the following client acknowledgement letters are required as part of the final report supporting documents:

  • Construction Homeline Plan - Client Acknowledgement - Form 310007
  • PPI - Mortgage - Client Acknowledgement - Form 310017
  • PPI - Homeline Plan Client Acknowledgement - Form 310019

If any of the above documents are included in the document package, please ensure you return the documents with the final document package. Our instructions to lawyers will be updated in due course to include this final report requirement.


July 5, 2020

Effective July 5, 2020, there are multiple changes made on leasehold mortgages on First Nation Lands or non-First Nation Lands, as a result, the General Instructions to Lawyer/Notary have been updated:

3915 (05-10-2020) - General Instructions to Lawyer/Notary - Collateral Mortgages/Hypothecs - All Provinces, Except Quebec and New Brunswick

3915/53915 QC/NB (05-10-2020) - General Instructions to Lawyer/Notary - Collateral Mortgages/Hypothecs Quebec and New Brunswick Only

  • Section 2c has been updated to indicate a lender’s title insurance policy from a title insurer is required for leasehold mortgage on non-First Nation land
  • Section 10 has been updated to indicate if this is a Homeline Plan or Collateral Mortgage, the remaining term of the lease must be 35 years or greater

4231/54231 (05-10-2020) – Additional Instructions to Lawyer Leasehold Mortgages on Indian Lands

  • Section 1 has been updated to indicate if this is a Homeline Plan or Collateral Mortgage, the remaining term of the lease must be 35 years or greater
  • Section 3 has been updated to include Chicago Title Insurance as the approved title insurer for leasehold mortgages on Indian Lands

4180 (05-10-2020) – General Instructions to Lawyer/Notary – Residential Mortgages/Hypothecs – All Provinces, Except Quebec and New Brunswick

4180 / 54180 QC/NB (05-10-2020) – General Instructions to Lawyer/Notary – Residential Mortgages/Hypothecs – Quebec and New Brunswick Only

  • Section 2b has been updated to indicate a lender’s title insurance policy from a title insurer is required for leasehold mortgage on non-First Nation land

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

Archive

 
08/20/2021 06:13:30