Land Title Act
LAND TITLE (TRANSFER FORMS) REGULATION

Schedule A — Continued

LAND TITLE ACT

FORM B

(Section 225)

Province of
British Columbia

(a) Principal Amount: $	(b) Interest Rate:	(c) Interest Adjustment Date:	Y	M	D
(d) Interest Calculation Period:	(e) Payment Dates:	(f) First Payment Date:
(g) Amount of each payment:	(h) Interest Act (Canada) Statement: The equivalent rate of interest calculated half yearly not in advance is % per annum.	(i) Last Payment Date:
(j) Assignment of Rents which the applicant wants registered? YES NO If YES, page and paragraph number:	(k) Place of payment:	(l) Balance Due Date:

MORTGAGE — PART 1       PAGE 2

.......................................................................................................................................................
6.	Mortgage contains floating charge on land? YES NO		7.	MORTGAGE secures a current or running account? YES NO
.......................................................................................................................................................
8.	Interest Mortgaged: Freehold Other (specify) *
.......................................................................................................................................................
9.	Mortgage Terms: Part 2 of this mortgage consists of (select one only):
	(a) Prescribed Standard Mortgage Terms
	(b) Filed Standard Mortgage Terms		D.F. Number:
	(c) Express Mortgage Terms		(annexed to this mortgage as Part 2)
	A selection of (a) or (b) includes any additional or modified terms referred to in Item 10 or in a schedule annexed to this mortgage.
.......................................................................................................................................................
10.	Additional or Modified Terms:*
.......................................................................................................................................................
11.	Prior Encumbrances Permitted by Lender: *
.......................................................................................................................................................
12.	Execution(s):** This mortgage charges the Borrower's interest in the land mortgaged as security for payment of all money due and performance of all obligations in accordance with the mortgage terms referred to in Item 9 and the Borrower(s) and every other signatory agree(s) to be bound by, and acknowledge(s) receipt of a true copy of, those terms.
	Execution Date Officer Signature(s) Y M D Borrower(s) Signature(s)
	Officer Certification: Your signature constitutes a representation that you are a solicitor, notary public or other person authorized by the Evidence Act, R.S.B.C. 1996, c. 124, to take affidavits for use in British Columbia and certifies the matters set out in Part 5 of the Land Title Act as they pertain to the execution of this instrument.
*	If space insufficient, enter "SEE SCHEDULE" and attach schedule in Form E.
**	If space insufficient, continue executions on additional page(s) in Form D.

Mortgage Form — Part 1

Completion Instructions

[am. B.C. Regs. 165/90, s. 2; 33/92, s. 9; 300/94.]

GENERAL

(1) Upon submission of a mortgage in Form B to the land title office, a separate application is not necessary unless the mortgage also creates a floating charge, capable of registration under the Land Title Act, that the lender wants to register concurrently against other land. In that case the lender shall apply to register the floating charge in Form 17 of B.C. Reg. 334/79.

(2) Please ensure that every item of Form B is completed in accordance with the instructions and the user guide.

(3) The mortgage document includes

(a) all pages of the mortgage in Form B,

(b) any additional pages to accommodate borrower and officer signatures in Form D,

(c) all pages attached to the mortgage as a schedule in Form E,

(d) all pages of the express terms, if any, attached to the mortgage as Part 2, and

(e) an affidavit of execution, if any,

and the mortgage document shall be arranged in that order.

(4) Enter in the space provided the total number of pages that comprise the mortgage document.

(5) Do not include the number of pages contained in a filed or prescribed set of standard mortgage terms that are to be incorporated by reference. Although incorporated by reference, they are not part of the actual mortgage form.

(6) Number each page consecutively after page 2 of the mortgage document. At the end of the mortgage document, type or print "END OF DOCUMENT".

SPECIFIC

ITEM 1 — Application

Instruction

(1) Enter the name, address (including postal code) and phone number of the applicant or the applicant's solicitor or agent. This must be followed by the signature of that person.

User Guide

(1) Under the Land Title Act, the "applicant" is the person who is entitled to be the registered owner of the charge. This item constitutes the application to register this mortgage and must be completed by the applicant or the solicitor or agent of the applicant either before or after execution of the instrument. Any refusal notice will be sent to the person named in the application at the address specified.

(2) If the applicant or the applicant's solicitor or agent is an individual, his or her name, address (with postal code) and phone number, followed by his or her signature, must be entered.

(3) If the applicant or the applicant's solicitor or agent is not an individual, the name, address (with postal code), phone number and signature of an individual who is authorized to do all acts necessary to effect registration of the mortgage must be entered.

ITEM 2 — Parcel Identifier(s) and Legal Description(s) of the Mortgaged Land

Instruction

(1) Enter the 9 digit parcel identifier number (PID) of each parcel to be charged in the space provided in Item 2, followed by the legal description of the land matching the PID number. The PID number is not required if not yet assigned.

User Guide

(1) The legal description consists of everything shown in the "Description of Land" segment of a computer title printed below the PID number.

(2) Preambles such as "All and singular that certain parcel..." in the legal description are not required. Similarly, reference to a strata lot owner's share in the common property is not required in the legal description. Preambles such as "That part of Lot 4.... shown on... " may be used where required.

(3) State Lot and Plan numbers in figures only. In addition, the following abbreviations are acceptable:

(4) It is not necessary to include references to water, improvement or assessment districts, or legal notations such as "hereunto annexed is Easement No. ...".

(5) The legal description(s) with parcel identifier number(s) must be recorded entirely within Item 2 and must not continue onto a schedule.

(6) If the space is not sufficient for the parcel identifier number(s) and legal description(s), set out the parcel identifier number(s) and legal description(s) in a schedule and enter "SEE SCHEDULE" in Item 2.

EXAMPLE:

(7) If a PID number has not been assigned to the parcel, enter "NO PID NUMBER" followed by the legal description.

(8) Please note that land title office mark up of the parcel being charged is done by PID number only.

(9) Please ensure that the legal description is entered opposite the PID number of the parcel it describes.

EXAMPLE:

ITEM 3 — Borrower(s) [Mortgagor(s)]

Instruction

(1) In the case of an individual, enter the full name of the borrower and a postal address to which the lender may send notices.

(2) In the case of a corporation, enter its name and its B.C. incorporation or registration number, if any, and a postal address to which the lender may send notices.

(3) It is not necessary to set out occupations in this Item.

User Guide

(1) A city, town or village by itself is not a sufficient postal address. Where appropriate, it must contain a street or route number, post office box number or general delivery designation as required by Canada Post. In all cases the postal address must include a postal code.

(2) If the borrower is an individual, his or her name should be set out in full as it appears on the title.

EXAMPLE:

(3) In the case of a corporation that is a B.C. company or that is registered extraprovincially or continued in B.C., enter the B.C. registration number.

EXAMPLE:

EXAMPLE:

(4) Preference is that borrower names be printed or typed in capitals and underlined as shown in the above examples.

(5) If there is insufficient space to enter the names and postal addresses of all of the borrowers, enter "SEE SCHEDULE" and set out all the names and postal addresses in a schedule. Do not enter some names and postal addresses in Item 3 and some in a schedule.

EXAMPLE:

(6) If the corporation is neither incorporated nor registered in British Columbia, the name of the governing jurisdiction of a corporate borrower must be shown in this Item.

ITEM 4 — Lender(s) [Mortgagee(s)]

Instruction

(1) In the case of an individual, enter the full name and occupation of each lender (and, if applicable, information respecting joint tenancy). A postal address (with postal code) must also be entered.

(2) In the case of a corporation, enter its name and its B.C. incorporation or extraprovincial registration number, if any. If it is not incorporated or registered in B.C., enter a description of its governing jurisdiction. In either case, a postal address for the lender must be entered in this Item.

(3) In the case of a lender which has branch offices, a branch office address may be included as part of the description of the lender, but a postal address must also be given.

User Guide

(1) In all cases, the postal address must include a postal code. It is not sufficient to state only the name of the city, town or village.

(2) In the case of a lender that has branch offices, a branch office address may be included in the description of the lender, but a postal address must also be given. If the branch office address and postal address are the same, this should be stated. The name of the governing jurisdiction of a corporate lender must always be entered unless the corporation is incorporated or registered in British Columbia.

EXAMPLE:

(3) If the lenders are taking fractional interests, the shares must be expressed as whole fractions. For example, an undivided 1/3 interest expressed as 33.3% is not permitted.

EXAMPLE:

(4) Preference is for lender names to be printed or typed in capitals and underlined as shown in the above examples.

(5) If there is insufficient space to enter the names, occupations and addresses of all the lenders, enter "SEE SCHEDULE" and set out all the names, occupations and addresses in a schedule.

EXAMPLE:

ITEM 5 — Payment Provisions

Instruction

(1) Complete the boxes in Item 5 as follows:

(a) Principal Amount:
Enter the principal amount expressed in figures only. If the principal amount is not a sum certain, enter "SEE SCHEDULE" and set out the obligation in a schedule.

(b) Interest Rate:
Enter the interest rate expressed as a percentage. Decimals or fractions are acceptable. If a definition of "Prime" or similar reference rate is included in the mortgage terms, interest can be stated as "Prime +2%" or words to like effect.

(c) Interest Adjustment Date:
Enter the interest adjustment date by "year, month, day" in the respective columns.
If there is no interest adjustment date, enter "N/A".

(d) Interest Calculation Period:
Enter interest calculation period using dates if necessary (e.g. quarterly, semi-annually, May 15 and Nov. 15).
If there is no interest calculation period enter "N/A".

(e) Payment Dates:
Enter the date and frequency of payments (e.g. "1st day of each month", "1st and 15th day of each month" or "every second Tuesday").
If there are no payment dates, enter "N/A".

(f) First Payment Date:
Enter the date on which the first periodic payment is to be made.
If there are no periodic payments, enter "N/A".

(g) Amount of Each Periodic Payment:
Enter the amount of each periodic payment (expressed in figures only).
If there are no periodic payments, enter "N/A".
If the periodic payments are of accrued interest only, enter "Interest only".

(h) Interest Act (Canada) Statement:
Enter the appropriate percentage in figures.
If space is insufficient, enter "SEE SCHEDULE" and set out the equivalent percentage in a schedule.
If it is not necessary to make a Interest Act (Canada) Statement, enter "N/A".

(i) Last Payment Date:
Enter the date on which the last periodic payment is to be made.
If there are no periodic payments enter "N/A".

(j) Assignment of Rents Statement:
If the mortgage contains an assignment of rents which the applicant wishes registered, enter "X" in the "Yes" box.
If the assignment is contained in a set of filed mortgage terms, enter the filing number of the set and the section or paragraph number of the assignment of rents provision.
If the assignment is contained in a schedule, enter "SEE SCHEDULE" and the page number on which the assignment is set out.
If the mortgage does not contain an assignment of rents, or if it does and the applicant does not want to register it, enter "X" in the "No" box.

(k) Place of Payment:
Enter the address at which payment of the mortgage money is to be made.
If payment is to be made at the lender's postal address shown in Item 4, enter "POSTAL ADDRESS IN ITEM 4".

(l) Balance Due Date:
Enter the date on which the unpaid balance is due.
If the mortgage is payable on demand, enter "ON DEMAND".

User Guide

(1) It is anticipated that the payment provisions of most mortgages can be accommodated in Item 5. In those situations where a particular box of this Item cannot be completed conveniently in the space provided, enter "SEE SCHEDULE" in that box and set out the provision in a schedule.

(2) Please ensure that every box in Item 5 is completed by

(a) entering the appropriate information, or

(b) entering "N/A" or "SEE SCHEDULE"

as the circumstances require.

EXAMPLE:

EXAMPLE:

(3) Where the contents of one or more boxes in Item 5 are deferred to a schedule, they shall be set out in the schedule under the same headings and in the same order as they appear in Item 5.

(4) If the mortgage secures a non-monetary obligation and "SEE SCHEDULE" has been entered in box (a), the obligation may be described in the schedule under the heading "Obligation Secured" rather than the heading "Principal Amount".

ITEM 6 — Floating Charge

Instruction

(1) If the mortgage contains a floating charge on land, enter "X" in the "YES" box. If it does not, enter "X" in the "NO" box.

ITEM 7 — Current or Running Account

Instruction

(1) If the mortgage is made to secure a current or running account, enter "X" in the "YES" box. If it is not, enter "X" in the "NO" box.

ITEM 8 — Interest Mortgaged

Instruction

(1) Enter "X" in the box that indicates the interest of the borrower that is to be charged. At least one of the boxes must be marked in this manner.

User Guide

(1) If the mortgaged interest is a fee simple interest, enter "X" in the "Freehold" box. If the mortgaged interest is an interest less than the fee simple, enter "X" in the "Other" box and describe the charge and specify its registration number.

EXAMPLE:

8.	Interest Mortgaged:
		Freehold Other (specify)	* Option to Purchase GD1000

(2) If the mortgaged interest is an interest less than the fee simple that is to be registered concurrently with the mortgage, enter a description of the instrument creating the interest that is sufficient for the registrar to identify it as the interest mortgaged.

EXAMPLE:

8.	Interest Mortgaged:
		Freehold Other (specify)	* Leasehold created by lease with registration number to be one lower  than the within instrument.

(3) If the mortgaged interest is a fee simple and one or more lesser interests, both boxes may be selected. If there is insufficient space to describe the other specified interests, enter "SEE SCHEDULE" and describe them in a schedule.

ITEM 9 — Mortgage Terms

Instruction

(1) Part 2 of the mortgage consists of one of

(a) prescribed standard mortgage terms,

(b) filed standard mortgage terms, or

(c) express mortgage terms appended to the mortgage form.

(2) Since the list in subsection (1) is exhaustive, only one item may be selected.

(3) Where the prescribed standard mortgage terms or the filed standard mortgage terms are selected, they are considered to be Part 2 of the mortgage. Where express mortgage terms are used, these must be entitled "MORTGAGE TERMS — PART 2" and be attached to Part 1 of the mortgage immediately after any schedules to the mortgage form.

User Guide

(1) There are 3 options for completing Item 9:

(a) if the prescribed standard mortgage terms are to be incorporated, enter "X" in the appropriate box,

(b) if a set of filed standard mortgage terms is to be incorporated, enter "X" in the appropriate box and enter the filing number assigned to the set by the land title office, or

(c) if the express mortgage terms are to be attached, enter "X" in the appropriate box and annex them as Part 2.

(2) A selection of either the prescribed standard mortgage terms or the filed standard mortgage terms will automatically include any addition, deletion or modification to those terms referred to in Item 10.

ITEM 10 — Additional or Modified Terms

Instruction

(1) Where the prescribed standard mortgage terms or filed standard mortgage terms are to be added to, deleted or modified, the addition, deletion or modification may be entered in Item 10 or in a schedule.

(2) If all the additional, deleted or modified mortgage terms can be accommodated in the space provided, enter them in Item 10.

(3) If all of the additional, deleted or modified mortgage terms cannot be accommodated in the space provided, enter "SEE SCHEDULE" and set all of them out in a schedule.

(4) Do not use Item 10 to summarize any mortgage terms or to add to, delete or modify express mortgage terms.

ITEM 11 — Prior Encumbrances Permitted by Lender

Instruction

(1) If desired, enter a description of any prior encumbrances the lender will permit.

User Guide

(1) Completion of this Item is not mandatory and the registrar will not examine any information contained in it or verify it against the register.

(2) If it is intended to make the mortgage subject to an interest which will be registered after the registration of the mortgage, do not enter a description of it in this Item. Instead, an appropriate form of consent and postponement may be included in the mortgage terms.

EXAMPLE:

(3) If, at the time the mortgage is executed, it is intended to register the mortgage subject to a certificate of pending litigation, the appropriate entry may be made in this Item. If that decision is made after execution, file a separate election as required under section 216 (2) (b) of the Land Title Act.

ITEM 12 — Execution(s)

Instruction

(1) Item 12 is to be used for execution of the mortgage document by the borrower and for officer certification.

(2) If the space provided is not sufficient for execution by all borrowers, then an additional page for execution may be added without reference to the registrar. The additional page must be in Form D. Where a borrower's signature has been certified by an officer, the certification must appear on the same page as the execution.

(3) The date of execution, given in year, month and day, must be indicated in the space provided in Item 12. Years shall be entered using the last 2 digits (e.g. "89" for 1989). Months shall be designated by number (e.g. "2" for February).

User Guide

INDIVIDUAL BORROWER

(1) For natural persons, under the "Borrower(s) Signature(s)" column, the borrower name must be typed or printed immediately below the signature of the borrower.

(2) Under the "Officer Signature(s)" column, the name, address and professional capacity (e.g. solicitor, notary or commissioner) must be typed or printed immediately below the signature of the certifying officer.

EXAMPLE:

(3) Please note that the definition of an officer is limited to a person before whom an affidavit may be sworn under the Evidence Act, R.S.B.C. 1996, c. 124, sections 60, 63 and 64.

(4) The officer signature must appear directly opposite the borrower signature certified by the officer. If one officer is certifying more than one borrower signature, add "as to all signatures" or "as to the signatures of ..." immediately below the officer signature.

EXAMPLE:

CORPORATE BORROWER

(1) In the case of a mortgage executed by a corporation, use the format shown in the following example and ensure that the name of the authorized signatory is typed or printed immediately below the signature. Please note that the affixation of a corporate seal is no longer required for Land Title Act purposes. The provisions of subsections (2), (3) and (4) under the heading INDIVIDUAL BORROWER also apply to this form of execution.

EXAMPLE:

(2) If a company seal is affixed, it must not obliterate or obscure any signature or information entered in this Item. In the case of a corporate attorney, it is the seal of the attorney that is to be affixed rather than that of the borrower.

EXECUTION BY INDIVIDUAL ATTORNEY

(1) In the case of a mortgage executed by an attorney, use the appropriate format shown in the following example. If a power of attorney is already filed in the land title office, enter the filing number immediately below the signature. The provisions of subsections (2), (3) and (4) under the heading INDIVIDUAL BORROWER also apply to this form of execution.

EXAMPLE:

EXECUTION BY CORPORATE ATTORNEY

(1) In the case of a mortgage executed by a corporate attorney, it must be clear that the signatory is an authorized signatory of the corporate attorney and that the corporate attorney is acting as the attorney for the borrower. The provisions of subsections (2), (3) and (4) under the heading INDIVIDUAL BORROWER also apply to this form of execution.

EXAMPLE:

LACK OF CERTIFICATION

(1) If the borrower signature cannot be certified by an officer, enter "SEE AFFIDAVIT OF EXECUTION" and attach an affidavit that complies with Part 5 of the Land Title Act. Note that the affidavit is part of Form B and must have a page number.

(2) The affidavit must state the reason why officer certification cannot be obtained. The reason must be sufficient for the registrar to accept the affidavit in lieu of the officer certification. In those cases where the affidavit evidence of execution is submitted, the registrar is not likely to exercise his discretion unless officer certification is simply impossible to obtain under the circumstances or the mortgage was executed outside British Columbia.

(3) In those cases where the mortgage document is executed outside British Columbia, the registrar will accept that it is difficult to obtain an officer certification in all cases and will accept the affidavit of execution in lieu of an officer certification.

EXAMPLE:

COVENANTOR OR GUARANTOR

(1) A covenantor or guarantor may sign the document within Item 12. The covenantor's or guarantor's name must be typed or printed below the signature. The signature of the covenantor or guarantor need not be certified by an officer for Land Title Act purposes. 

Contents| Schedule A — Form A  Form B  FormC  Form D  FormE | Schedule B

Copyright (c) 2004: Queen's Printer, Victoria, British Columbia, Canada