Current mortgage on property

[scott1234]

What happens to the current mortgage on the tax sale property? Does the bank forfeit the mortgage???


Thanks

S

[gap]

Yes - the bank is given notice prior to the tax sale process, but in Ontario, nothing actually survives the tax sale except crown leins.

[Rob]

Gap is right a mortgage in Ontario doesn't survive the tax sale.   But watch out for federal and provincal liens they do survive.

[newrevolt]

does this apply in alberta as well?

[Rob]

Yes it applies in Alberta as well.