09/14/2026
Could a $1.6M home potentially cost you $2M?
With a power of sale, the biggest risk may not be the condition of the property ā it may be the legal wording.
If the registered owner is a non-resident of Canada and the proper CRA Certificate of Compliance isnāt in place, Section 116 can potentially create significant purchaser liability.
On $1.6M, 25% is $400,000.
Power-of-sale transactions require careful legal review before you firm up.
Sometimes the most expensive problem is the clause that got crossed out.