In Saskatchewan, since 1943, foreclosure of a home quarter
cannot be completed except under special circumstances.
The Farm Land Security Board is responsible for
administering Home Quarter Protection and maintains a database of all mortgages excluded
from Home Quarter Protection.
Home Quarter Protection does not apply to:
- Vendor mortgages (as per section 43 of The Saskatchewan
Farm Security Act).
- Purchase and/or construction mortgages (as per section 44
(12.3) of The Saskatchewan Farm Security Act).
- Bare land mortgages (as per section
44 (16) and (17) of The
Saskatchewan Farm Security Act).
- Mortgages conforming to class
exclusion orders which have been issued by the Farm Land Security Board.
A farmer and creditor may co-apply to the Farm Land
Security Board to have a mortgage excluded from Home Quarter Protection. Co-applications
to exclude a mortgage from Home Quarter Protection are available from the Board. All
Saskatchewan lenders and law offices have co-application forms.
Forms are also available on this web site.
The co-application is
straightforward, farmers and creditors are encouraged to complete as much of the co-application as possible in order to reduce delays and save
legal costs. No fee is is charged by the Board for the co-application.
Obtaining an exclusion order is not guaranteed, the Board is instructed by
The
Saskatchewan Farm Security Act to extinguish Home Quarter protection when it is
"in the best interests of the farmer".
