[Babanaik]

E-mail. This was directly from MNP, through the Trisura e-mail we have been using for other communications. Haven't corresponded with KSV since the portal went live.

KSV said they don't have anything to do with it, contact Trisura or MNP. Trisura asked to check back in 3 - 4 weeks because they are still processing but in final stages

 

[GoldenGun92]

Hi all,

Just filling out my documents for the termination and release and just a few questions.

1. Do we only fill out schedule A and submit it?

2. What did you write in the following blanks on the first page of the release and termination agreement.

“In accordance with the condominium plan documentation proposed to be registered against those lands and premises situate in the _____, municipally located at _____ and legally described as _________….

I’m assuming first blank is peel, second is the address on heart land but not sure what the third is.

Any help is appreciated.

Thank you

 

[UptownGirl]

Hi all,

Just filling out my documents for the termination and release and just a few questions.

1. Do we only fill out schedule A and submit it?

2. What did you write in the following blanks on the first page of the release and termination agreement.

“In accordance with the condominium plan documentation proposed to be registered against those lands and premises situate in the _____, municipally located at _____ and legally described as _________….

I’m assuming first blank is peel, second is the address on heart land but not sure what the third is.

Any help is appreciated.

Thank you

Trisura will send you one that's already filled out. You will just need to sign and Date it....along with a witness

 

[GoldenGun92]

Trisura will send you one that's already filled out. You will just need to sign and Date it....along with a witness

I got a blank copy of the file. Not sure why it wasn’t filled out.

 

[UptownGirl]

I got a blank copy of the file. Not sure why it wasn’t filled out.

Did you receive an email from "Trisura Settlement"? The email from Trisura Settlement should have an attachment and it's the Termination and Release already filled out.
Do not use the copy found in the email from "Vandyk Uptowns"...that copy is blank.

 

[nicolephillipe]

Hello
Has anyone received their cheque yet?

 

[Kaoskreator]

Did you receive an email from "Trisura Settlement"? The email from Trisura Settlement should have an attachment and it's the Termination and Release already filled out.
Do not use the copy found in the email from "Vandyk Uptowns"...that copy is blank.

Should everyone already have received this email entitled “Trisura Settlement” or is this also being rolled out in batches?

 

[UptownGirl]

Should everyone already have received this email entitled “Trisura Settlement” or is this also being rolled out in batches?

It's being rolled out in batches

 

[Michelle Bilek]

Sent to me....

Thank you for your email.

As we are sure you can appreciate, this process is complex and with the large number of parties involved, it does take time.

In an effort to provide you with some guidance, we can advise that your claim has been reviewed and is complete. Your claim is currently in the final approval processes with the various insurers. Upon completion of these being completed, we will be provided with the funds needed to pay your claim.

Unfortunately, this process could take up to 2 weeks to complete. Once MNP Ltd. receives the funds from the various funding parties, we issue the cheques via mail within 24 hours. When the payments are in the mail, they are not in our control, therefore, however long it takes Canada Post to deliver your payment, is subject to Canada Post’s timelines. This could add a few weeks of time to the timeline. It really depends on Canada Post.

Once approved, your cheque will be sent to you (my address included). Cheques will be issued and mailed via Canada Post. This is directed by the Court for the Deposit Return Protocol.

Please reach out again in 3-4 weeks and we can provide you with an update with hopefully, an estimated time for your payment to be issued.

Regards,

Trisura Engagement Team

 

[UptownGirl]

Sent to me....

Thank you for your email.

As we are sure you can appreciate, this process is complex and with the large number of parties involved, it does take time.

In an effort to provide you with some guidance, we can advise that your claim has been reviewed and is complete. Your claim is currently in the final approval processes with the various insurers. Upon completion of these being completed, we will be provided with the funds needed to pay your claim.

Unfortunately, this process could take up to 2 weeks to complete. Once MNP Ltd. receives the funds from the various funding parties, we issue the cheques via mail within 24 hours. When the payments are in the mail, they are not in our control, therefore, however long it takes Canada Post to deliver your payment, is subject to Canada Post’s timelines. This could add a few weeks of time to the timeline. It really depends on Canada Post.

Once approved, your cheque will be sent to you (my address included). Cheques will be issued and mailed via Canada Post. This is directed by the Court for the Deposit Return Protocol.

Please reach out again in 3-4 weeks and we can provide you with an update with hopefully, an estimated time for your payment to be issued.

Regards,

Trisura Engagement Team

That's a load of BS....Canada Post delivers regular letters from BC to Newfoundland in 3 days....Why are they trying to make it sound like Canada Post uses horses and carriages to deliver mail??

 

[Prasad]

Hello
Has anyone received their cheque yet?

Not yet. Even I am waiting for an answer from someone. This is the most asked question in everyones mind. . But if anyone of you recieves the cheque please let us know as early as possible

 

[Babanaik]

I received the similar reply and I don't see any complexity in the process.I don't understand if someone can shed light on it, that we were told our deposit are in the trust so why they are waiting funds to be received from funding parties?

 

[Babanaik]

That's a load of BS....Canada Post delivers regular letters from BC to Newfoundland in 3 days....Why are they trying to make it sound like Canada Post uses horses and carriages to deliver mail??

Most likely they are waiting for Canada post to resolve their issues or waiting for them to go on strike again and they can blame on Canada post. I am not receiving any mails from last two weeks from Canada posts not even the flyers is this happening to anyone?

 

[cngirl]

I received the similar reply and I don't see any complexity in the process.I don't understand if someone can shed light on it, that we were told our deposit are in the trust so why they are waiting funds to be received from funding parties?

Based on my understanding from an email exchange with KSV last year:

The deposits were paid into trust with the developer’s lawyers, but a portion was later released to the developer. Developers can access deposit funds early if they obtain insurance to cover those deposits in case they ever need to be refunded. In this case, the developer arranged deposit insurance - $20,000 was covered by Tarion, and the remaining amount was insured through an excess condominium deposit insurance policy from a private insurer. So, while some of the deposit funds were released, they are fully backed by insurance. Any remaining deposit funds are still held in trust by the lawyer and has not been released to KSV.

 

[Babanaik]

Based on my understanding from an email exchange with KSV last year:

The deposits were paid into trust with the developer’s lawyers, but a portion was later released to the developer. Developers can access deposit funds early if they obtain insurance to cover those deposits in case they ever need to be refunded. In this case, the developer arranged deposit insurance - $20,000 was covered by Tarion, and the remaining amount was insured through an excess condominium deposit insurance policy from a private insurer. So, while some of the deposit funds were released, they are fully backed by insurance. Any remaining deposit funds are still held in trust by the lawyer and has not been released to KSV.

Few weeks ago I emailed KSV as well regarding the deposit return they didn't give me any details which you mentioned and said they don't have anything to do with it and asked me to contact with Trisura or MNP.

Do you think there is a trust issue between the lawyers and KSV or some legality issue? Or KSV didn't receive large number of APS? Or there is still doubts of completion of the project (which I have)?