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Topic: Execution searches (Read 13954 times)
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worldjohn
Platinum
Posts: 180
Karma: 6
Execution searches
«
on:
September 06, 2016, 07:48:17 PM »
Ive been travelling around the world now Im back. I put in a bid and won. Did an execution search on the name of the owner (as recommended by the experts here). This time I found a writ from the TD bank as the creditor. When I searched that writ I found a judgement of $21,000 from 2013. My question is; do I have to worry about this or will it not affect anything when the title goes into my name?
Im also curious why they didnt have a sheriffs sale to clear the debt? or if they where would I find out? thanks
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raylak
Silver
Posts: 29
Karma: -4
Re: Execution searches
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Reply #1 on:
September 07, 2016, 02:15:58 AM »
As far as I understand is that they can't go behind you personally but if you don't pay TD they have the power to sell it and revive the amount. Correct me gurus?
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Jayz
Advanced
Posts: 255
Karma: 14
Re: Execution searches
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Reply #2 on:
September 07, 2016, 01:18:14 PM »
If an execution is not in favor of the Crown, you should be able to have it removed from the title after the tax deed is registered. Why was there no sheriff's sale prior? My guess is, from the Bank's perspective, the property was not worthwhile for the effort to "push" for one especially after tax arrears the bank might still end up with nothing. I bought a property several years ago with $30,000 debt from RBC registered on title. I received the title clean. And RBC never came back to haunt me.
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Pfm1011
Senior
Posts: 948
Karma: 63
Re: Execution searches
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Reply #3 on:
September 07, 2016, 02:33:42 PM »
long and short....not your problem..Nothing to worry about..
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