Mortgages, Increasing interest rates and the Canada Interest Act

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

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.