Best Practices for Second and Private Mortgages 

May 6, 2020
ZOOM Webinar Online

Veuillez notez, cet événement sera disponible en anglais seulement.


Tim Lack, Partner, BridgehouseLaw Vancouver

Time: Wednesday, May 6, 2020 1:00 pm - 2:00 pm (Pacific Time)
Fees: Members: $50.00
Non-Members $100.00 (+GST)

PDF Registration Form - Click Here!
CPD Hours: 1 Hour of Approved Continuing Professional Development in BC


This talk will examine the nuances and the additional difficulties for lawyers and their staff when doing second and private mortgages. We will examine the context and the business context of such loans and the players involved. We will examine how to handle the tight time frames, the players involved and the limitations in doing full due diligence. And we will discuss the problem in getting proper instructions.  In that regard, we will discuss common errors made when its not the bank’s “paper”.

We will examine the necessity of ILA and discuss the recent issues raised in the Galpin case (the little old lady in West Van who mortgaged her house away) and how to avoid these situations.

We will discuss priority issues as between the existing (or new) first mortgage and the second mortgage. In that regard, we will go over the problems of confirm the first mortgage balances and how to avail your client of the sec. 28 rights to protect the second’s priority over further advances by the first. The recent decision Forjay will be examined and we will show how it has clarified the procedures in giving notice to the first mortgagee of the priority that the second wishes to assert.


About Tim Lack

Tim Lack is a Vancouver lawyer and practices in the areas of wills, estates, real estate, commercial lending and business law. In addition to his active estate practice, he acts for many business people and companies, who utilize his services for all their commercial matters.

Tim has been the responsible lawyer for over 10,000 real estate transactions, acting for banks, credit unions and many other institutional and private lenders. His work with private lenders is extensive and he has been asked to provide numerous expert opinions on private lending issues for litigation lawyers. He has lectured on several occasions to other lawyers on this subject.

Tim has been involved in residential and commercial conveyancing, land assemblies, office and industrial leasing, including landlord and tenant disputes. As part of his real estate development work, Tim has counselled clients from acquisition, through development and to final sales on condo projects, including mixed use and hotel developments.

Recent Professional Speaking Engagements and Publications

  • Regular speaker for mortgage brokers, senior groups, university students, and strata owners on matters requiring expertise from Tim’s solicitor’s practice
  • The Continuing Legal Education Society of British Columbia Real Estate Conference, Vancouver, British Columbia, 2019; Conference Co-Chair
  • The Continuing Legal Education Society of British Columbia Real Estate Conference, Vancouver, British Columbia, 2018; Conference Co-Chair and Speaker and Author: Mortgage Lending: New Case Law and Practice Points for your Mortgage Practice
  • Canadian Mortgage Broker Magazine, Spring 2018; Co-Author: Protecting the Priority of Second/Private Mortgages
  • The Continuing Legal Education Society of British Columbia Real Estate Conference, Vancouver, British Columbia, 2017; Conference Co-Chair and Speaker and Author: Mortgage Lending: Case Law Update and Best Practices
  • The Continuing Legal Education Society of British Columbia Real Estate Fundamentals for Lawyers, Vancouver, British Columbia, 2016; Speaker and Author: Practical Tips and Tricks for Small Firm Real Estate Practice
  • The Continuing Legal Education Society of British Columbia Real Estate Conference, Vancouver, British Columbia, 2015; Conference Co-Chair and Speaker and Author: Giving Priority to Priorities in Mortgage Transactions
  • The Continuing Legal Education Society of British Columbia Advanced Conveyancing Topics for Paralegals and Support Staff, 2015; Speaker and Author: The Nuances of Second and Private Mortgages for Conveyancers


Acknowledging First Nations Territories
The CBABC acknowledges that the land from which we gather and host this webinar from is the traditional and unceded territories of the Coast Salish peoples, and in particular the Squamish, Tsleil-Waututh and Musqueam Nations, and we encourage  members to explore the rich history and knowledge of Indigenous peoples, and to continue learning about their experience in Canada from the past to the present. 

Technical Instructions
We strongly recommend all participants to check these requirements and run the test atleast a couple of days before the course date in order for the webinar to work properly for you.

ZOOM - Will .will be using Zoom to facilitate this webinar. If you have not used Zoom before, please watch this video prior to the webinar to familiarize yourself with the platform -- Click Here!

• You will be sent the webinar link and log-in instructions 1 day prior to the course date.
• All materials and handouts will be sent to you with your instructions.
• Please ensure your computer speakers are working properly as audio will be delivered entirely over the computer.
• Earphones are recommended for the best sound quality.

Instructions/Course Materials/Handouts
The webinar instructions will be sent to you one day prior by email.

Any and all materials/handouts from the webinar will be sent along with the instructions.

Participant Disclaimer- This is to confirm that you have agreed with the following terms and conditions:
All materials related to this course are for the sole use of the above said registrant, which may not be copied, reproduced, uploaded, posted, publicly displayed, translated, distributed, shared, modified, made available on a network or other website, used to create derivative works, or transmitted in any form or by any means whatsoever without the prior express written permission of the Canadian Bar Association.

Cancellation Policy
Once payment has been processed there will be no refund issued. To cancel your attendance, please contact the PD Department at No refunds will be issued to non-attendees.


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