8 January 2024
Litigation & Dispute Resolution
Mortgages – The contractual right to indemnity vs. the “usual rule” clarified.
While most loan agreements and mortgages documents contain a contractual right allowing the lender to recover indemnity (actual) legal costs in foreclosure proceedings, the “usual rule” provides that costs in unopposed foreclosure matters are generally awarded on a party and party basis under Tariff Scale A. The net result of the “usual rule” is that…