Frequently Asked Questions
Hello and welcome to the Frequently Asked Questions (FAQ) page! We've compiled this list to provide you with quick answers to common questions about consumer rights, our services, and how we can assist you.
Should I have a will?
Yes. Having a will helps ensure your wishes are clearly documented and your assets are distributed according to your instructions. It also makes things easier for your loved ones.
Who is responsible for any remaining debt if the sale doesn’t cover what I owe?
The mortgage holder (the borrower) is still responsible for any outstanding balance after the property is sold.
Does the bank have to sell my home at market value?
While it is generally in the bank’s best interest to sell close to market value, the bank’s primary goal is to recover the outstanding debt. Because of this, properties are not always sold at full market value during foreclosure.
Can the bank legally foreclose on my property?
Yes. Banks have the legal right to foreclose under the Supreme Court Act when a borrower defaults. (Consumer Affairs recommends seeking legal advice immediately if you are facing foreclosure.)
Do I have any rights if something I purchased is defective?
Yes. Under the Sale of Goods Act, anything you buy must be fit for its intended purpose, match its description, and be free from minor defects at the time of purchase. If it isn’t, you may be entitled to a repair, replacement, or refund depending on the situation.
What should I do if I think I’m being overcharged for rent?
If your property is Rent Controlled, bring your lease agreement or a rent receipt to Consumer Affairs. This allows us to confirm that you are the legal tenant and check the registered lawful rent on file.
If you are being charged more than what is legally allowed, you may request a formal investigation. Under Section 28 of the Rent Increases (Domestic Premises) Control Act 1978, tenants who have been overcharged can recover the overpaid amount.
Do you divide the ARV by 12 to calculate the rent?
No. The Annual Rental Value (ARV) is used only for land tax purposes. It does not determine or set your monthly rent.