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1. Guest780
   

    A Consent Order for Foreclosure means that the landlord and the bank negotiate a Consent Order, and then apply to the Court for approval of the Order. There is some court involvement, in that the Court must approve the Consent Order, but the rest of the foreclosure process is eliminated. This method of proceeding is common in Alberta. Usually this type of Order will allow the tenant 30 days to vacate the property. The bank will become the legal owner of the property.

   You can find more information in the Foreclosure for Landlords and Tenants in Alberta booklet.

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