In Hilson v. 1336365 Alberta Ltd., the Court of Appeal confirmed that the ten-year limitation period in s. 43(1) of the RPLA applies to a stand-alone mortgage guarantee.
The respondents argued that s. 43(1) should be read narrowly to deal only with the circumstances that existed when its predecessor provision was enacted, and that “instrument” as used in the provision should have the same definition prescribed in the Registry Act. The court rejected both arguments in comprehensive reasons. I think it’s a good decision.