Foreclosure and Residential Tenants #448

Legally Speaking

Licensees often wonder whether during foreclosure proceedings the borrower can rent the property to a residential tenant so the tenancy survives the foreclosure. Generally speaking, the answer in British Columbia is “no”. The recent decision in First National Financial GP Corp. v. Sirotka, illustrates why.1 In 2009, the lender began foreclosure proceedings which the borrowers did