Bondi gave a mortgage to Dante on a parcel of land (located in Ontario), which he owned. Bondi later sold the mortgaged land to Green. Green, some time later, sold the land to Jones. Jones defaulted on payment of the mortgage. If Dante institutes foreclosure proceedings against Jones, Jones may ask the court to convert the foreclosure to sale proceedings.

Question

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In Ontario, if a borrower defaults on a mortgage, the lender (in this case, Dante) may initiate foreclosure proceedings to take ownership of the property. However, the borrower (Jones) has the right to request the court to convert these proceedings into a sale process, allowing the property to be sold to pay off the mortgage debt. This is a legal option available to protect the interests of the borrower by potentially avoiding the harsher consequences of foreclosure.

Bondi Gave a Mortgage to Dante on a Parcel of Land