Introduction: When to use this guide
This guide was devised to assist solicitors presenting mortgage sale series for registration with Teranet Manitoba in hopes of streamlining the process. It provides brief explanations of the forms and supporting evidence required at various stages in mortgage sale proceedings. It is not intended to be a comprehensive guide to mortgage sale and foreclosure proceedings. Nor is it a substitute for the careful application of legal skill and judgment. Solicitors acting for mortgagees and purchasers of properties subject to mortgage sale and foreclosure proceedings should ensure they are suitably familiar with all application legislation, rules, and salient legal principles, including, but not limited to, those found in:
(1) The Real Property Act;
(2) The Mortgage Act; and,
(3) The Rules for Mortgage Sale and Foreclosure Proceedings Under
the Real Property Act.
The Rules for Mortgage Sale and Foreclosure Proceedings Under The Real Property Act are located on our website at https://teranetmanitoba.ca/
A Note on Forms:
This document references several forms. Those forms available for download on our website (https://teranetmanitoba.ca/)
include:
• Form 15.1 — Request/Transmission
• Form 17.1 — Registration Details Application
• Form 5P — Transfer
• Form 4 (Form A) — Notice of Exercising Power of Sale (NEPS)
• Form B — Auction Sale Conditions (see https://teranetmanitoba.ca/)
• Form G — Notice of Intention to Sell by Private Contract (see https://teranetmanitoba.ca/)
• Form 33 - Final Order of Foreclosure (FOF) placeholder form (see https://teranetmanitoba.ca/news-updates/registrar-general-directives-and-notices/)
The following forms are created by Teranet Manitoba in an earlier stage of mortgage sale and foreclosure proceedings and are supplied to the solicitor by the vendor prior to registration:
• Form C — Order For Sale
• Form F — Order Approving Sale Price
• Form H — Order of Foreclosure
• Form I — Final Order of Foreclosure (FOF)
• Approved Advertisement — Created by lender’s solicitor (no form number)