Mortgage Affidavit Template for Canada

A Mortgage Affidavit is a sworn legal document that you must provide when registering a mortgage against real property in Canada. This affidavit serves as your formal declaration under oath about key facts related to the mortgage transaction, including your identity, the property details, and any existing claims against the property. Under Canadian law, specifically provincial Mortgages Acts and federal legislation like the Interest Act and Bank Act, this document is mandatory for most mortgage registrations and acts as a safeguard against fraud in real estate transactions.

When do you need this document?

You need a Mortgage Affidavit whenever you're registering a new mortgage, refinancing an existing mortgage, or transferring a mortgage to a new lender in Canada. This requirement applies whether you're purchasing a residential home, commercial property, or investment real estate. If you're acting as a corporate borrower, you'll need to provide additional corporate authorization documentation alongside your affidavit. The document is also required when dealing with estate properties, situations involving powers of attorney, or when multiple parties hold title to the property. Each province may have slightly different requirements, but the core purpose remains consistent across all Canadian jurisdictions.

Key legal considerations

Your Mortgage Affidavit must include several critical elements to be legally valid. You must provide accurate identification information, including your full legal name, occupation, and current address. The property description must match exactly what appears on the title documents, including both the municipal address and the legal property description. You must declare the mortgage terms accurately, including the principal amount, interest rate, and repayment terms. Any existing liens, encumbrances, or claims against the property must be disclosed truthfully. False statements in your affidavit constitute perjury under the Criminal Code of Canada and can result in serious legal consequences, including criminal charges and civil liability for damages.

Legal requirements in Canada

Under Canadian law, your Mortgage Affidavit must be sworn before a Commissioner for Oaths, notary public, or lawyer authorized to administer oaths in your province. The document must comply with the Canada Evidence Act requirements for sworn statements and meet provincial land titles legislation standards. If you're a non-resident of Canada, additional declarations about your residency status may be required under provincial foreign buyer regulations. Corporate mortgagors must provide evidence of corporate authority and may need director or officer affidavits. The affidavit must be filed with the appropriate provincial land registry office within specific timeframes, which vary by province but are typically within 30 to 60 days of execution. Failure to file properly can result in the mortgage being unenforceable or receiving lower priority against other claims.