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Last revised:
June 5, 2003

Memo to:

All Land Registrars
Regional Managers
TSSO Staff
Business Improvement Team


From:

Tom Cutler
Legal and Technical Officer

Contents of the memo:

Recently, Canadian Imperial Bank of Commerce obtained a Court Order, which vested "all mortgages, related security and other real property interests" of CIBC Mortgage Corporation in Canadian Imperial Bank of Commerce. Attached are 3 documents approved for registration, dealing with this Court Order.

These documents will be registered throughout the province and, therefore, information such as the legal description; PIN, instrument number, etc. will change from office to office.

Registry

For documents that vest mortgages or related security, a registry document is to be entered in the General Register and this instrument number will be recited in subsequent registry documents dealing with Canadian Imperial Bank of Commerce interests.

Land Titles

In each Land Titles division the document will be registered once and will then be quoted in subsequent dealings and must be accompanied by a statement that the Court Order is still in full force and effect.

Land Titles Non-Electronic

A Land Titles paper document is to be abstracted as a full entry on the paper parcel with the registration number of the charge (or other document being vested) abstracted in the remarks column. In Polaris the registration number of the charge (or other document being vested) is to be set out in the document remark field.

Ontario Land Titles Electronic

An electronic document is to have the registration number of the charge (or other document being vested) abstracted as a remark. If a subsequent dealing in the electronic system is a Discharge of Charge, statement 3700 is to be selected and the registration particulars of the court order and a statement that the order is still in full force and effect is to be included in statement 61 . If the dealing is a Transfer of Charge, Postponement of Interest, Notice under sec. 71 LTA (amending/extending agreement), or a Transfer under Power of Sale, the above information is to be set out in statement 61.

Ownership of Real Property

If Canadian Imperial Bank of Commerce is to be entered as the registered owner of any real property, a Vesting Order, in registry, an Application to Amend the Register under sec. 69 LTA in Land Titles paper and an Application for Vesting Order in Electronic Registration should be registered. The vesting order requires a Land Transfer Tax Affidavit/Statement.

 If you have any questions, please call me at 416-212-1808

Original signed by:

Tom Cutler

Copied:

Kate Murray, Director of Titles
John Dalgliesh, Director of Land Registration (A)

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