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The Land Contracts (Actions) Act, 2018
August 27, 2019In June 2018 The Land Contracts (Actions) Act, 2018 was passed by the Legislative Assembly of Saskatchewan. On September 1, 2019, The Land Contracts (Actions) Act, 2018 will come into force.
The new Act will repeal and replace the existing Act and includes provisions that:
- require that a notice of application for leave to commence a foreclosure action in the prescribed form be served on the borrower and the Provincial Mediation Board at least 60 days before the hearing date;
- require that a copy of the mortgage or agreement of sale and reasonable evidence of the value of the property be attached to the notice of application;
- require that updated arrears information be served on the borrower and filed with the court prior to the hearing date;
- continue to limit adjournments to eight months;
- state that the Act does not apply to properties used solely for commercial purposes at the time of default; and
- repeal The Home Owners’ Protection Act and The Agreements of Sale Cancellation Act, and include provisions of the latter in the new LCAA.
The Regulations accompanying the Act include prescribed forms.
A copy of the Act as passed can be found here: http://publications.saskatchewan.ca/#/products/90577