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Entrepreneur

If I owe money to the CRA and I default on my mortgage who receives the proceeds of the sale the CRA or the Bank that issued the mortgage or the CRA.

Posted from: Ontario

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One Response to “Entrepreneur”

A licensed trustee said...

When the house is sold the mortgage will be paid down/off first. If there are funds left over they will be applied to whatever other debts are registered against the house – CRA has the ability to register and if they have they may receive some of the money.