Comments on: Title office swamped over fraud concern http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html?utm_source=rss&utm_medium=rss&utm_campaign=title-office-swamped-over-fraud-concern Bubble? What Bubble? Thu, 24 May 2012 08:06:05 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: kim http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21692 kim Mon, 07 Jul 2008 14:23:31 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21692 RE:Why don’t they just require the bank or mortgage lender to notify the occupants of the home? That would kill a lot of the fraud right there. Really the mortgage lender should be on the hook if it can be shown that they did not perform due diligence. the Ontario ruling was based on this. If they sent out an appraiser then the occupants/owners shocked looks would give a heads up! I'd take the BC ruling to Federal Supreme Court! <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21692">0</span> <small>(to vote for this comment, please visit the site)</small></p> RE:Why don’t they just require the bank or mortgage lender to notify the occupants of the home? That would kill a lot of the fraud right there. Really the mortgage lender should be on the hook if it can be shown that they did not perform due diligence.

the Ontario ruling was based on this. If they sent out an appraiser then the occupants/owners shocked looks would give a heads up!

I'd take the BC ruling to Federal Supreme Court!

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]]> By: patriotz http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21098 patriotz Thu, 26 Jun 2008 19:56:05 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21098 what do you mean "same sort of law"? If <b>you</b> authorize a general contractor he then has the right to authorize subcontractors, who have the right to place liens. What does this have to do with fraudulent sales or mortgages? <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21098">0</span> <small>(to vote for this comment, please visit the site)</small></p> what do you mean "same sort of law"? If you authorize a general contractor he then has the right to authorize subcontractors, who have the right to place liens.

What does this have to do with fraudulent sales or mortgages?

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]]> By: Drachen http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21088 Drachen Thu, 26 Jun 2008 16:09:34 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21088 "My business law 101 tells me, the owner never enters a contract with the bank (no acceptance, no consideration) why would the contract stand in this case?" Liens against a property are subject to the same sort of law. For example if you hire a general contractor to do some upgrades on your house and he does not pay the plumber or the electrician, goes bankrupt or skips town <b>you</b> as the property owner are on the hook. This is why people who know their stuff always hold back a percentage of the contractor's fee until three months after work is completed (liens must be filed within 3 months). <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21088">0</span> <small>(to vote for this comment, please visit the site)</small></p> "My business law 101 tells me, the owner never enters a contract with the bank (no acceptance, no consideration) why would the contract stand in this case?"

Liens against a property are subject to the same sort of law. For example if you hire a general contractor to do some upgrades on your house and he does not pay the plumber or the electrician, goes bankrupt or skips town you as the property owner are on the hook. This is why people who know their stuff always hold back a percentage of the contractor's fee until three months after work is completed (liens must be filed within 3 months).

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]]> By: Anonymous http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21086 Anonymous Thu, 26 Jun 2008 15:30:18 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21086 Is B.C. the world capital of organized crime? <a href="http://www.youtube.com/watch?v=i1LY561JCbE" rel="nofollow">http://www.youtube.com/watch?v=i1LY561JCbE</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21086">0</span> <small>(to vote for this comment, please visit the site)</small></p> Is B.C. the world capital of organized crime?
http://www.youtube.com/watch?v=i1LY561JCbE

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]]> By: blueskies http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21079 blueskies Thu, 26 Jun 2008 14:27:54 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21079 drachen: good find! pretty bird... otherwise known as the red headed double breasted mattress trasher :-) <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21079">0</span> <small>(to vote for this comment, please visit the site)</small></p> drachen:

good find!

pretty bird… otherwise known

as the red headed double

breasted mattress trasher :-)

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]]> By: Anonymous http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21078 Anonymous Thu, 26 Jun 2008 14:15:18 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21078 alexcanuck: Ths for the explaination. It makes everyone happy. But then, if the judge is only ruling on the title, he should keep his month shut on the mortgage issue. Also, in a practical sense, what good is the title if there is a mortgage on it? <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21078">0</span> <small>(to vote for this comment, please visit the site)</small></p> alexcanuck:

Ths for the explaination. It makes everyone happy.

But then, if the judge is only ruling on the title, he should keep his month shut on the mortgage issue.

Also, in a practical sense, what good is the title if there is a mortgage on it?

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]]> By: Drachen http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21077 Drachen Thu, 26 Jun 2008 14:06:08 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21077 <b>/dev/null</b> You just don't know how to analyse data that's all. You only need to consider trends in your analysis when they are going the direction you want them to go! <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21077">0</span> <small>(to vote for this comment, please visit the site)</small></p> /dev/null

You just don't know how to analyse data that's all. You only need to consider trends in your analysis when they are going the direction you want them to go!

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]]> By: /dev/null http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21076 /dev/null Thu, 26 Jun 2008 14:01:18 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21076 Thanks for the link, Richard. I found the stats were presented in a confusing way but maybe that's just me. I noticed that they predict Vancouver sales down 20% for the year. By my simplistic calculations we're down 17% now (Jan->May inclusive) but May was down 29% according to <a href="http://paul-northvancouverhomes.blogspot.com/2008/05/may-2008-inventory-and-sales-summary.html" rel="nofollow"> Paulb's numbers</a>. Seems to me that they're not considering the trend. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21076">0</span> <small>(to vote for this comment, please visit the site)</small></p> Thanks for the link, Richard. I found the stats were presented in a confusing way but maybe that's just me.

I noticed that they predict Vancouver sales down 20% for the year. By my simplistic calculations we're down 17% now (Jan->May inclusive) but May was down 29% according to Paulb's numbers. Seems to me that they're not considering the trend.

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]]> By: alexcanuck http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21075 alexcanuck Thu, 26 Jun 2008 13:54:45 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21075 The way I read that <i> mortgages taken out on the property — even if fraudulently obtained — still stand</i>, I thought the court was not ruling on the mortgage issue, only the title. Rather than affirming the mortgage, pretty much saying the issue at hand was only the title. The separate Ontario case that DID rule on the MORTGAGE was pretty quick to let the scam victim off the hook. Just a case of jurisdiction, seems pretty clear to me. Judges must be careful not to open cans of worms other than the one in front of them. Though I am not a lawyer, of course. (My lawyer made me say that.) <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21075">0</span> <small>(to vote for this comment, please visit the site)</small></p> The way I read that mortgages taken out on the property — even if fraudulently obtained — still stand, I thought the court was not ruling on the mortgage issue, only the title. Rather than affirming the mortgage, pretty much saying the issue at hand was only the title. The separate Ontario case that DID rule on the MORTGAGE was pretty quick to let the scam victim off the hook. Just a case of jurisdiction, seems pretty clear to me.

Judges must be careful not to open cans of worms other than the one in front of them.

Though I am not a lawyer, of course. (My lawyer made me say that.)

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]]> By: Anonymous http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21074 Anonymous Thu, 26 Jun 2008 13:54:21 +0000 http://vancouvercondo.info/2008/06/title-office-swamped-over-fraud-concern.html#comment-21074 Owner: Didn't do anything wrong Bank(Mortagage provider): Didn't check the Mort. App. Can someone in the legal profession explain why the owner is on the hook in this case? What legal ground is this decision based on? My business law 101 tells me, the owner never enters a contract with the bank (no acceptance, no consideration) why would the contract stand in this case? Not looking for rent! but real explaination. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-21074">0</span> <small>(to vote for this comment, please visit the site)</small></p> Owner: Didn't do anything wrong

Bank(Mortagage provider): Didn't check the Mort. App.

Can someone in the legal profession explain why the owner is on the hook in this case? What legal ground is this decision based on?

My business law 101 tells me, the owner never enters a contract with the bank (no acceptance, no consideration) why would the contract stand in this case?

Not looking for rent! but real explaination.

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