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mortgaged property through power of saleproceedings either by public auction or byprivate contract. If the public auction methodis adopted, the mortgage lender is entitledto bid on and purchase the property. Ineither case, specific notice and advertisingrequirements must be fulfilled. The publicauction, which is the remedy most oftenemployed, is conducted by a licensedauctioneer at the court house or other publicfacility in the county where the property islocated. Specific rules have been adoptedby the New Brunswick courts with respect toa deficiency claim against the mortgagedebtor in the event the sale proceeds areinsufficient to retire the debt.Newfoundland and Labrador - Enforcementof a real property mortgage can be pursuedin two ways: (1) by way of foreclosurepursuant to the Rules of the Supreme Court,1986; or, (2) pursuant to the power of saleprovisions under the Conveyancing Act. Theformer is rarely utilized, whereas proceedingby way of power of sale is the mostcommon and cost-effective means ofenforcing on a mortgage. The power of saleprocess begins by providing a 30 daydemand and notice to the mortgagor andany other registered encumbrancers orguarantors. If there is no satisfactoryresponse to the 30 day notice, themortgagee may then proceed to advertisethe sale of the property. Prior to sale, themortgagee is required to obtain an appraisalof the property. The appraisal must bedisclosed to the mortgagor following thesale and be provided in tandem with a fullaccounting of the power of sale process.The sale itself can be conducted anywherein the province by auction or sealed tender,and is usually conducted by the mortgageeor its legal counsel. If there remains abalance owing on the mortgage followingexercise of the power of sale, themortgagee can pursue a deficiency claimthrough the Supreme Court ofNewfoundland and Labrador. Strictcompliance with the power of saleprovisions in the Conveyancing Act isrequired in order to preserve themortgagee’s rights to a deficiency claim.Nova Scotia - Enforcement of a realproperty mortgage requires an order forforeclosure and sale from the Nova ScotiaSupreme Court. The process requires themortgage lender to commence a legalaction against the mortgage debtor for thedebt owing. The remedy usually adopted bymortgage lenders is to sell the mortgagedproperty at public auction. The sale isnormally conducted by the sheriff in thecounty where the property is located. Theforeclosure rules contain specific advertisingrequirements which must be strictlyfollowed. Specific rules are also included todeal with a deficiency claim against themortgage debtor in the event the saleproceeds are insufficient to retire the debt.Prince Edward Island - Enforcement of areal property mortgage may be done in themanner described for Nova Scotia.Enforcement, however, is usually doneaccording to power of sale provisions foundin the mortgage document. The power ofsale process requires the mortgagee toprovide notice to the mortgagor of thedefault and impending sale. Generally, nopower of sale may be exercised until fourweeks’ notice of such sale has been givenand published in the local newspaper. Thesale is usually done by public auction, butmay be conducted by other means such astender process or real estate listing. AEnforcement of Creditors’ Rights 133