total solutions Landlord/Tenant, Business, new construction
Voluntary Surrenders of Assets
Voluntary Surrender services
Is a Voluntary Surrender or Repossession the Better Option?
Although both voluntarily surrendering your vehicle; camper, RV, boat, and having your item repossessed are considered derogatory, the benefit to a voluntary surrender is that it shows you were communicating and cooperating with your lender. By returning the asset, you are taking responsibility for your financial issues and trying to work with the lender—rather than forcing it to take more drastic action.
You also avoid the uncomfortable situation of having a towing company come and remove your car from your home or place of employment. And, you may avoid owing additional fees, such as towing charges, repossession fees, or additional costs/fees that can be avoided.
By working with your lender, you are also maintaining a more positive relationship. Because you aren't completely burning that bridge, the lender may be willing to extend credit to you much sooner after your financial challenges are resolved.
Call us today for a free consultation.
COMMERCIAL TENANCIES ACT - LOCKOUT/DISTRAINT OF ASSETS
Welcome to our team of expert problem solvers!
As a landlord or tenant, we understand that disputes can be frustrating and stressful.
But fear not, because we have a uniquely skilled team that can help resolve your situation in a structured and timely manner.
Our approach is simple: we combine our years of professional experience with innovative solutions to deliver successful outcomes. We believe in finding alternative methods to resolving even the most difficult disputes.
At the heart of our success lies our unwavering dedication to our clients. We understand the importance of getting you the resolution you are looking for, no matter how complex the situation may be.
With our expert guidance, you can rest assured that you are in good hands. Let us help you find peace of mind and move forward with confidence!
Our skilled team can help resolve a variety of issues including all asset investigations, valuations of commercial and industrial; lockouts evictions, distress of tenants' assets to satisfy rent arrears, liens registrations, and more innovative methods, we're dedicated to getting you to reach the conclusion you are looking for, no matter what the issue.
Our success is to bring both the landlord and tenant for reasonable and cost-effective beneficial resolutions.
Call today for a free consultation!
226.975.3570 or email us at totalsolutions519@gmail.com
Landlord vs. Tenant: Forbearance Agreement
Avoid having your locks changed!
Forbearance agreements work!
- Bailiff works with both landlords and tenants to get you back on track,
- Peace of mind with full transparency,
- Enter into a repayment agreement with confidence, giving you the stability to keep running your business,
- No more stress or anxiety.
Solutions, not more Problems
Sleep better at night.
Just a better option.
Call us today for a free consultation.
COMMERCIAL TENANCIES ACT - LOCKOUT/DISTRAINT OF ASSETS
Often Bailiffs are approached by Ontario Commercial Landlords, whose tenant is in arrears, with the request "Lock Them Out". Their intent being to hold the goods located inside the leased premises as ransom or to liquidate the goods to recover rental arrears.As a result we are regularly explaining that among the remedies available to Ontario Commercial Landlords the procedures known as TERMINATION (a.k.a. lock them out) and DISTRESS (seizure / sale) are inconsistent remedies in law, meaning they cannot be conducted simultaneously.
Recent court precedence takes the position that when a landlord, while intending to distress, changes the locks (preventing the tenant access to the premises) they are deemed to have terminated the lease. In addition to forfeiting the goods a landlord may also be liable to the tenant for costs, loss of business and punitive damages.
When a tenant has failed to pay the rent, the landlord has one of two options available:
OPTION 2: BAILIFF CAN SEIZE AND DISPOSE OF A TENANT'S PROPERTY - (DISTRESS)
A landlord can hire a Bailiff to seize and dispose of a tenant’s property that is contained within the rented premises. The landlord is not required to give advance notice of seizing the tenant’s property, unless the lease provides for it. However, Ontario Bailiffs are required to notify the tenant of the distress and the sum of monies required to cure the default before proceeding to sell the seized property.
Before disposing of seized property, the Bailiff must hold it for five days. If the proper payment is made by the tenant in this five day period, the Bailiff is not permitted to sell the tenant’s property. Otherwise, after the proper appraisals are made, the property can be sold. There must be 2 independent accredited personal property appraisals done before liquidation of the assets can be sold.
Example: January 1st – rent due and not paid
January 2nd or later – seize tenant’s property and notify the tenant of intent to dispose.
Five days after seizure – obtain 2 appraisals and dispose of tenant’s property if the proper payment is not made by the tenant.
RSLA - Repair Storage Liens Act Repossessions by Bailiff
RSLA - Repair Storage Liens Act Repossessions by Bailiff
RSLA - Repair Storage Liens Act Repossessions by Bailiff
Bailiff Services for Repair Storage Liens Act Enforcements (Repos)
Enforcement of the RSLA, a Bailiff Repossession can be enforced under the previsions the Repair Storage Liens Act in Ontario.
When a client has failed to pay for a repair or storage of goods, the repairer or storer can:
RSLA - Repair Storage Liens Act Repossessions
-Repossession of vehicles
-Ownerships for abandoned vehicles
-Lien Registrations and Searches
-Lien searches
The Repair and Storage Liens Act ("RSLA") covers the repair and/or storage of "articles," defined as "tangible personal property other than a fixture."
A "repair" "means an expenditure of money on, or the application of labor, skill or materials to, an article for the purpose of altering, improving or restoring its properties or maintaining its condition…"
Though the term "storage" is not defined in the Act, a "storer" is "a person who receives an article for storage or storage and repair on the understanding that the person will be paid for the storage or storage and repair, as the case may be."
Ontario Bailiffs can enforce your right under the RSLA, fast and efficiently.
-WE ARE EXPERTS in the seizure of heavy trucks and equipment
Repossession of vehicles:
- Ownerships for abandoned vehicles
- Lien Registrations and Searches
- Lien searches
- WE ARE EXPERTS in the seizure of heavy trucks and equipment.
- Vehicle Condition Reports and photos
- Accredited Personal Property Appraisal available
- $195.00 * lien registration fee up front but
100% REFUNDABLE to repairer on seizure of vehicle
PPSA - PERSONAL PROPERTY SECURITY ACT Repossessions
RSLA - Repair Storage Liens Act Repossessions by Bailiff
RSLA - Repair Storage Liens Act Repossessions by Bailiff
Bailiff Services of Debit Security Enforcements
- PPSA Bailiff Repossession of goods in Ontario
Debt secured by goods goes into default, the lender can immediately retain a Bailiff
Ontario Bailiff can enforce the PPSA - Act in Ontario;
Debts are secured in one of two ways. They are secured either by land or by goods.
If secured by land, the security takes the form of a mortgage that is registered against title to the property. If secured by goods, the security takes the form of a Notice of Security Interest that is registered with a Notice of Security Interest under the Personal Property Security Act (the “PPSA”), usually identifying the specific goods pledged as collateral.
If the debt secured by land goes into default, the mortgagee can bring an action for power of sale against the mortgagor under the Mortgages Act and eventually sell the property to cover the debt. However, this can be a long and costly court procedure. This is why it is usually beneficial to also secure the debt against goods, as well as the land, because collection against goods is faster and more cost efficient.
If the debt secured by goods goes into default, the lender can immediately retain a Bailiff to go in and seize the goods that were pledged as collateral to the loan. The security must be registered under the PPSA, but after only 15 days notice, the Bailiff is able to sell the goods in satisfaction of the debt. It is a fast and efficient remedy, and allows the debt to be dealt with before the arrears get too high.
The PPSA allows debts to be secured against both land and goods, giving the lender the option to proceed against one or the other, or both. The provisions of the Mortgages Act allow the debtor so many delays and options to prolong the process, it is good practice to include a security in goods, in addition to the mortgage, just to ensure that effective steps can be taken to get payment on the debt before the arrears get out of control.