Sheriffs Sale of Lands - Owen Sound

[Dave2]

Under And By Virtue Of a Writ of Seizure and Sale issued out of the Superior Court of Justice at Owen Sound, Ontario to me directed, against the real and personal property of Scott A. Murray, also known as Scott Alexander Murray, at the suit of Bank of Montreal., Plaintiff, I have seized and taken in execution all the right, title, interest and equity of redemption of Scott A. Murray, also known as Scott Alexander Murray, in and to:

Lot 3, Concession 15, NDR Glenelg, Part Lot 2, Concession 15, NDR Glenelg, as in and subject to R440296; West Grey, County of Grey PIN: 37232-0055 LT

Municipally known as: R. R. # 6, Markdale, Ontario

All of which said right, title, interest and equity of redemption of Scott A. Murray, also known as Scott Alexander Murray, defendant in the said lands and tenements described above, I shall offer for sale by Public Auction subject to the conditions set out below at the Court House, 611 9th Avenue East, Owen Sound, Ontario, N4K 6Z4 on July 27, 2016 at 1:00 p.m.

Conditions:

The purchaser to assume responsibility for all mortgages, charges, liens, outstanding taxes, and other encumbrances. No representation is made regarding the title of the land or any other matter relating to the interest to be sold. Responsibility for ascertaining these matters rests with the potential purchaser(s).

Terms:
?Deposit 10% of bid price or $1,000.00, whichever is greater
?Payable at time of sale by successful bidder
?To be applied to purchase price
?Non-refundable
?Ten business days from date of sale to arrange financing and pay balance in full at the law office of Michael A. G. Forcier, 712 2nd Avenue East, 2nd Floor, Owen Sound, Ontario N4K 2H1
?All payments in cash or by certified cheque made payable to the Minister of Finance.
?Deed Poll provided by Sheriff only upon satisfactory payment in full of purchase price.
?Other conditions as announced.

This sale is subject to cancellation by the sheriff without further notice up to the time of sale.

Note: No employee of the Ministry of the Attorney General may purchase any goods or chattels, lands or tenements exposed for sale by a Sheriff under legal process, either directly or indirectly.

Date At Owen Sound, Ontario This 10Th Day Of June, 2016.

Sheriff of the County of Grey
 611 9th Avenue East
 Owen Sound, Ontario
 N4K 6Z4

(149-P188)

[heyu]

Does a Sherriff Sale potentially clear the mortgage as does a tax sale?

[NDR]

Unless I am mistaken, the answer is no -- what is up for auction is the equity, if any, the person has in the property.  As the Conditions of sale state:

"The purchaser to assume responsibility for all mortgages, charges, liens, outstanding taxes, and other encumbrances."

Parenthetically speaking, I'm not smart enough to understand the appeal of a Sherriff's sale.