At present, only trust companies are permitted to act as corporate trustees, executors, and administrators in Canada. However, trust companies have increasingly become multi-purpose financial institutions. The trust and fiduciary part of their business has diminished in importance. At the same time, because of our aging population, more people require assistance to manage the wealth they have accumulated over a lifetime, and may require a variety of fiduciary services. In other jurisdictions, including the United States, Britain, and other Commonwealth countries, trust and fiduciary services are more widely available, and more varied in content. This consultation paper examines the law governing corporate trustees and fiduciaries in Saskatchewan, and asks whether the monopoly on trustee services currently possessed by trust companies is still necessary. This project is part of the Commission’s focus on legal issues affecting the elderly.
This Report is concerned with the maintenance of public confidence in the real property system, and whether and how title insurance might affect that public confidence. The Commissions identified two separate aspects of maintaining that confidence:
(1) consumer protection; and
(2) protection of public infrastructure.
The Commissions make a number of recommendations that they believe will both protect the interests of individual purchasers and protect the existing public system of land registration, while guaranteeing as much freedom of choice as is compatible with those goals.
Reverse mortgages allow seniors to use equity in their homes while remaining in the home. The interest is allowed to accumulate, and is paid off when the person dies or leaves the home. There are various benefits and drawbacks to reverse mortgages. The Commission looks to regulation of these loans, including the need for full disclosure and independent advice and counselling.