The Supreme Court of Canada has weighted in on how the Canada Interest Act should be applied. This article from the Lawyers Weekly summarizes the case:
http://www.lawyersweekly-digital.com/lawyersweekly/3551/MobilePagedReplica.action?pg=2#pg2
http://www.lawyersweekly-digital.com/lawyersweekly/3551/MobilePagedReplica.action?pg=4#pg4
Thursday, May 19, 2016
Tuesday, May 17, 2016
Reblog of Devin Mylrea's article "Prepaid Rent or Security Deposit?"
Devin Mylrea has written an excellent summary of a recent Court of Queen's Bench decision relating to priority over monies paid by the tenant and held by a landlord:
https://issuu.com/cbaalberta/docs/law_matters_spring_2016_final/18?e=11945774/35726413
Landlords should be careful to ensure that money held by the Landlord is clearly characterized as prepaid rent and not as a security deposit. Otherwise Landlords run the risk that secured parties will take priority over funds that would otherwise be used by landlords and applied against rent.
https://issuu.com/cbaalberta/docs/law_matters_spring_2016_final/18?e=11945774/35726413
Landlords should be careful to ensure that money held by the Landlord is clearly characterized as prepaid rent and not as a security deposit. Otherwise Landlords run the risk that secured parties will take priority over funds that would otherwise be used by landlords and applied against rent.
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