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    asking1's Avatar
    asking1 Posts: 10, Reputation: 1
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    #1

    Jul 10, 2012, 04:02 PM
    Is there a statute of limitations on a lien in Ontario?
    I have two mortgages which are up to date. However, I was slapped with a $90,000 lien by a creditor. Is there a statute of limitations on this lien?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    Jul 10, 2012, 04:07 PM
    No, SOL refers to the time a creditor has to file legal action. They already filed a lawsuit and obtained a judgment so AOL is moot. But a judgment is good for 10 years and renewable for at least another 10.
    asking1's Avatar
    asking1 Posts: 10, Reputation: 1
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    #3

    Jul 10, 2012, 07:05 PM
    Quote Originally Posted by ScottGem View Post
    No, SOL refers to the time a creditor has to file legal action. They already filed a lawsuit and obtained a judgment so AOL is moot. But a judgment is good for 10 years and renewable for at least another 10.
    Thank you, Scott!
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