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165 Cards in this Set
- Front
- Back
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What are the two doctrines of law relating to land ownership? |
-The original doctrine of tenure -doctrine of estate |
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Define tenure |
A method of land holding for a temporary time period, but does not involve ownership of the land. |
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Define estate |
an interest in land; i.e., the status or extent of rights associated with tenure
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Explaine Common Law |
the part of the law that is formulated, developed and admiistered by the common law courts, mostly underwritten and founded orignally on common customs. Common law is based on principles more so than specific rules and has developed over the centuries using legal precedents as opposed to statutory provisions set out by parliamentary decree. |
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What is the highest form of ownership? |
Fee simple aka freehold |
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Define title |
the means of evidence by which the owner of land has lawful ownership thereof |
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Define fee simple |
The highest estate or absolute right in real property |
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What are the 5 types of estates currently in use? |
-fee simple -fee simple with conditions -future estate -leasehold estate -life estate |
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What are 2 types of estate the are no longer in use or valid? |
-estate to uses -fee tail |
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Explaine fee simle |
-Fee simple is a type of estate -It is the highest estate or absolute right in real property. -A bundle of rights, to use, sell, lease, enter or give away the property, is known as ownership but is subject to restrictions imposed by laws and government. -Fee simple aka: fee simple title, estate in fee simple, freehold ownership |
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explaine fee simple with conditions |
-Fee simple with conditions is a type of estate which differs from fee simple -can be created so that it is terminated with conditions. -E.g. a tract of land might be dedicated for educational purposes and would revert back of such use was ever terminated. |
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Explaine life estate |
-A type of estate -interest granted to an individual by a grantor will cease on the death of named individual -Grantor may specify rights and obligations that affect the life tenancy;e.g., use of the land, limitations on alterations/improvements, and payment of usual expenses -This type of estate arises under the terms of a will |
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Define life estate |
an ownership right to an individual for a lifetime period |
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Explaine future estate |
-a type of estate -normally arise with life estates as life estates coexist with "estate in remainder" -since a life estate is not ever lasting, a large portion of the fee simple remains when the life estate ends. This remaining portion is called a reversion when the grantor of the life estate reserves the balance for himself. If however the grantor gives the balance to a third party, the remaining portion is called the remainder. -The life tenant and the person entitled to the remainder both have an interest in the property from the beginning with their separate rights and obligations -their combined interest equals a fee simple and if they are in agreement they may revise any conditions imposing limitations |
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define future estates |
an interest inland that arises at the end of a life estate |
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define leasehold estate |
an interest in land for a specified period of time |
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explaine leasehold estate |
-a type of estate -an interest in land for a definite period of time- week, month, year, 99 years etc -cannot be longer than the estate from which it was granted -landlord or lessor grants interest to the tenant or lessee -governed partly by common law and partly by provincial tenancy legislation |
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define concurrent ownership |
two or more persons having ownership at the same time |
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regarding concurrent ownership, concurrent interests normally fall into what two primary categories? |
-Joint tenancy -tenants in common |
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define joint tenancy |
ownership of land by two or more persons whereby, on the death of one, the survivors aquire the whole estate |
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Explaine joint tenancy |
In joint tenancy all owners must have the same interest, undivided possession(both people own one half interest the whole property not half and half of the property) and title but act as a single owner. |
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what are the four unities of joint tenancy |
-title -time -possession -interest |
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Explaine the four unities |
The four unities must be the exact same for all tenants in order for the creation of a joint tenancy. they are title, time, possession, and interest |
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Regarding joint tenancy: if the four unities are not satisfied what happens? |
the owners are tenants in common |
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define right of survivorship |
the distinguishing feature of joint tenancies which provides that, where land is held in undivided portions by co-owners, upon the death of of any joint owner, his interest in the land will pass to the surviving co-owner, rather than to the estate. A joint tenant cannot bequeath his interest by means of a will because the transfer to the joint tenant is automatic at death, their interest ceases to exist. |
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what is an important exception in joint tenancy? |
Spousal interest: Under provincial legislation, if a married person dies owning an interest in a matrimonial home jointly with someone other than the surviving spouse, the joint tenancy is deemed to be severed immediately before time of death. Consequently, the interest becomes tenants in common and thereby provides a basis for the appropriate spousal interest in the assets of the deceased spouse's estate. |
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A joint tenant may destroy the right for survivorship before their death without the consent of the other tenants. What is this process called? |
severance |
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Define tenants in common |
ownership of land by two or more persons; unlike joint tenancy in that interest of deceased does not pass to the survivvor, but is treated as an asset of the deceased's estate. It has only one unity: the unity of possession |
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what is the one unity of tenants in common? |
possession this means that the tenants both own the entire property but may have different interests in the property. One may have a 3/4 interest and the other may have a 1/4 interest. |
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explain tenants in common |
- unity of possession -there is no right of survivorship -each tenant may sell or lease their share |
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define matrimonial home |
special status given to selected properties pursuant to the family law act |
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explain matrimonial home |
Because the family Law Act recoginses the concept on an equal partnership-marriage relationship it provides a code for the orderly and equitable settlement of the spouses' affairs when a marriage breaks down, or when a spouse dies, by an equalising of the net family properties, The designation of a home to be the matrimonial home means that the property is deemed to be the family residence at the time of designation. |
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Can you have more than one matrimonial home? |
yes |
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Part 1 of the Family Law Act deals with...? |
Part 1 deals with the equal division of property on the marriage breakdown or death with stated exclusions: e.g., property inherited or received as a gift. |
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What does part 2 of the Family Law Act deal with? |
Part 2 details the rights of the non-owner spouse to equal possession of the matrimonial home and sets out rights of possession of that home, the designation of a matrimonial home and limitations on ability to encumber or dispose of the matrimonial home. |
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What does designation of a home as a matrimonial home mean? |
It essentially means that the property is deemed to be the family residence at the time of designation. Any property can be designated by both the spouses as a matrimonial home by joint registration. All other matrimonial home property is then released from the protection of part 2 of the Family Law Act. |
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What is non-owner right to possession? |
Both spouses have an equal right to possession in the matrioinal home regardless of who initially bought the hous. This is only a personal right and not an interest in land. |
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what is the difference between interest in land and right to possession? |
???? |
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What are some ownership alternatives? |
-Condo freehold -Condo leasehold -co-operatives: equity co-op, non-profit co-op (without share capital) -co-ownership -partnership: limited partnership |
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Define Condominium |
The fee simple ownership of a specified amount of space (the unit) in a multi-unit dwelling or other multi-occupancy building with the tenancy in common ownership of portions used jointly with other owners (common elements) |
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which Act deals with condos? |
Condominium Act |
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What is Co-operative housing? |
It is a joint ownership alternative in which a property is owned by a corporation and members have a lease for a specific unit. A co-op can be either with share capital (equity co-op) or without share capital (non-profit co-op) |
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What act deals with co-op housing? |
The Co-operative corporations Act |
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What is an Equity co-op? |
The corporation that owns the and buildings with members as shareholders in the corporation |
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what is a non-profit co-op? |
There is no share capital for the members. Non-profit upon dissolution will distribute any remaining property (after payments of debt and liability) to another non-profit or charity |
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Who regulates registration of co-ops |
The FSCO ( financial services commission of ontario) regulates registration of organizations who conduct business as co-ops under the Co-operative Corporations Act. The FSCO is an arm's length agency of the ministry of Finance that became operational in July '98 under the FSCO Act '97 |
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What is co-ownership? |
More than one individual (family or not) owning a property |
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What is partnership? |
A contractual relationship between two or more parties, typically evidenced by a partnership agreement. A partnership is one of three entities that may be permitted to act as a real estate brkerage and trade in RE on behalf of others. |
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What kind of partnerships are there? |
Limited partnership and general partnership |
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What is the diffenerec between limited and general partnership? |
Limited: (aka silent partner)This is an investment relationship that limits a partner's ability to the amount invested while also limiting tthe profit they can make. They are jointly and severally responsible for the debts. These partnerships must have at least one general partner General: Manages the operation and is liable for all debts. |
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What is real property? |
Tangible and intangible attributes of land and improvements |
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Real estate vs real property? |
RE: typically refers solely to tangible aspects of property RP: includes tangible (Land and improvements) and intangible (rights) and chattel (movable property) |
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Define personal property |
All property except land and the improvements thereon. |
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Define fixtures |
permanent improvements to property that may not be removed at the expiration of the term of lease or tenure. |
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Define chattels |
personal property which is tangible and moveable (clothes, books, furniture) |
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Define bundle of rights |
Rights of ownership associated with the possession, use, enjoyment and disposition of real estate |
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define fractional interests |
(often refferred to legally as lesser interests) a single right within the bundle of rights in fee simple ownership |
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define surface rights |
rights associated with ground level as opposed to mineral or air rights |
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define mineral rights |
right regarding minerals on or below the land (usally sold by or reserved for the crown. legal advice is required) |
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define crown patents |
original deed issued from the crown (government) representing the root of the title for a particular property |
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Riparian rights |
The rights of the owner of lands on the banks of watercourses, to take advantageous use of the water on, under or adjacent to this land, including the right to acquire accretions, wharf slips and fish therefrom. |
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define easement |
a right enjoyed by one landowner over the land of another |
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define dominant tenement |
the estate that derives benefit from a servient tenement, as in a right-of-way (land that benefits from the easement) |
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Define servient tenement |
Land over which an easement exists in favour of the dominant tenement. ( land that serves or is subject to the easement) |
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define Right-of-way |
the right to pass over another's land, more or less frequently, according to the nature of the easement. |
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What are the four ways of creating an easement? |
-express grant -prescription -implication -statute |
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What is an express grant? |
It is a way of creating an easement by an owner deciding to grant a privilege (a right-of-way or easement) in favour of another owner. |
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What is a prescription (re: easements)? |
An individual can obtain a right-of-way or easement by adverse possession, also known as squatters' rights, in certain circumstances if the usage of the right-of-way was open and continuous for a specified period of time. |
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what is implication (re; easement)? |
If a parcel of land is landlocked by it's neighbors then it would be implied that the use of neighbor's land for access is there and necessary. |
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What is statute (re: easement) |
Easements created by a statute involve groups such as public utilities and telephone companies who gain the right to string wires, install equipment and maintain services by virtue of various provincial statutes. A statutory easement is created by the authority of the statute and does not require a dominant tenement. |
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What are three ways of terminating an easement? |
Merge release ceasing of purpose |
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What is merge (re: easements) |
An easement is extinguished if the ownership of both the dominant and servient tenements merge |
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What is release (re: easements) |
The person entitled to the benefit of an easement may release it to the servient tenement by removing the easement from the title. |
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What is ceasing of purpose (re:: easements) |
If the purpose of the easement disappears, so does the easement. |
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Right vs license? |
An easement is a right ( an interest in land) A license is a contractual arrangement with specific limitations and typically a specific expiry date. |
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What is "Profit a prendre"? |
Profit a prendre involves the right to enter upon a property based on a written agreement and take something from it such as crop, minerals, or timber. This right can, in some instances, pass with the title upon the sale of the property. |
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What is adverse possession? |
Provided certain conditions are in place, a adverse possession occurs when an individual, not the owner, takes possession of the property, hostile to, and without the consent of the owner and remains in exclusive possession using the land like an owner and ignoring the claims of other persons including the owner. It is possible, by adverse possession, for an occupier of land to extinguish the title of the owner. The possessor then becomes, in effect, the owner. |
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What is expropriation? |
The taking of private property by the state for public use, with fair compensation to the owner, through the exercise of the right of eminent domain. |
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Define escheat |
The revision of property to the state in the event the owner thereof dies leaving no will. |
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The government can put many limitations on ownership. What are the four categories the right the government has over your property? |
-Right to regulate -Right to levy taxes -Right to take private property (expropriation) -Right to have ownership returned if no heir can be found (escheat) |
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Who has the authority to expropriate land? |
The crown or any other agency empowered by provincial legislation, namely the expropriation act. |
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What is the legislative definition of expropriation according to Ontario's expropriation act? |
"... the taking of land without the consent of the owner by an expropriating authority in the exercise of its statutory powers..." |
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What are restricted covenants? |
A limitation placed upon the use of property, contained in the deed. (e.g subdivisions or condos limiting where you can put a satellite dish, or what colours you can paint the house, etc. in order to maintain uniformity and defined standards beyond municipally enforced zoning by-laws. ) |
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What is "intestate"? |
This is a legal term referring to a deceased person who has died without a will |
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What is the general expropriation process? |
-Application -hearing -expropriation plan -compensation -value of expropriated land -damage (disturbance, injurious affection, relocation difficulties, or payment to others) -payment -negotiations and arbitration -possession |
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What are the characteristics of a restrictive covenant? |
-a dominant tenement (benefited land) and a servient tenement (burdened land) must exist. -the covenant must be negative in nature and represent a burden on the covenantor's land. No positive or affirmative covenant can be imposed on the land, except by statute. -The covenant must directly benefit or enhance the value of the covenantee's land. -Both the covenantee and the covenantor's land must be clearly defined, the agreement between te owners should state that a covenant is being imposed, and the titles to both benefited and burdened lands must be registered (unless provided otherwise by statute) -the covenant must be reasonable in nature and not arbitrary or contrary to the public interest. |
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what are the two doctrines of law relating to land ownership? |
-doctrine of tenure -doctrine of estate |
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What is an estate to uses? |
??? |
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"a grant of interest in land for the lifetime of that individual". What is this? |
life estate |
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"A form of ownership in which two or more persons must have the same interest, the interest begins at the same time, possession is undivided and title is granted from the same instrument" What is...? |
joint tenancy
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Rights associated with owners of land on the banks of watercourses to take advantageous use of water on, under or adjacent to their land" What are...? |
riparian rights
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A TV satellite dish that is not permanently affixed to the prooperty and is not deemed to be a fixture" What is a? |
chattel
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An interst in land, referred to as a tye of tenement, that includes the owner's right to cross another person's land" What is a? |
dominant tenement
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Restrictions in a subdivision that control the type of construction and style of homes within that development" What are? |
restrictive covenants
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A government right to regulate property ownership" What is ? |
Police power
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The Crown or any person authorized by statute to expropriate land" What is a? |
expropriating authority
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A legal authority to create an easement that is typically used when granting such rights to a public utility or telephone company" What is a? |
statute |
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What is the purpose of a llegal discription of land? |
So that all description are uniform and there is no mistaking the land being discussed.
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"Division of a county into several distinct areas for administrative purposes" What is? |
Township |
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"Strips of land making up a township , each separated by a road allowance" What is? |
Concession |
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A township original consisting of 200-acre lots" What is? |
Single front township |
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A township originally consisting of 100-acre half lots" Waht is? |
Double front township |
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A township originally consisting of 1000-acre sections with subsequent divisions into lots" What is? |
Sectional township |
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What are counties divided in to? |
Townships
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What are townships divided into? |
Concessions |
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What are concessions divided into? |
Lots |
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How are concessions divided into lots? |
Usually running at right angles to the concession, numbered in Arabic numerals starting at 1 |
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Convert 1 chain to feet |
66 feet |
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How many links are in a chain? |
100 |
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How many chains are in a mile? |
80 |
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What does a "plan number/code" tell you? e.g. 99M-165 |
e.g. 99M-165 -The land registration office, identified by the first two numbers (99) -where the plan can be found: under land titles (M) or registery -plan # (165) (the 165th plan registered in that land registration office) |
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What is Metes and Bounds? |
A system of written land description whereby all boundary lines are set forth by use of terminal points and angles. metes refers to a limiting mark (i.e. distance) and bounds refers to boundary lines (i.e. directions). All descriptive text and illustrations are based on metes and bounds descriptions as recorded in land registry. |
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what are quadrantal bearings? |
A method of expressing the direction of a line in terms of the acute angle it makes with the north-south line chosen as the reference line for the particular survey. |
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Today's surveys must comply with rigid legislative and professional survey standards like:...? |
the Registry Act Standards for Surveys of the Association of Ontario Land Surveyors |
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What what is the main requirement of the Registery Act and SSAOLS |
that the bearings of any survey to be determined by astronomic observation or derived from a line of known astronomic bearing. |
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what does the term more or less mean re: analyizing metes and bounds? and why is it used? |
this term is often found in a property description intended to cover slight, unimportant or unsubstantial inaccuracies of which both parties are willing to assume the risk. It is used to avoid liability and to make sure there are never any gaps in a properties boundaries |
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how many minutes are in a degree of a circle? |
60 |
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if north is up where is S 45degrees W? |
7:30 o'clock |
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what are four types of surveys you will most likely deal with when listing and selling? |
-surveyor's real property report -reference plan (r-plan) -plan of survey -plan of subdivision |
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what do topographical surveys show? |
things like land contours, elevation etc. |
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what are to documents required for condominium registration? |
-description -declaration |
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what two Acts in Ontario are surveyors subject to? |
-surveys Act -Surveyors Act |
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What is the AOLS? |
The Association of Ontario Land Surveyors |
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what are the four components of of a survey? |
-research -measurement -monumentation -plan and/or report |
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How does a surveyor establish true boundaries of a property? |
they must consider best evidence available and follow rules of evidence based on precedent setting court cases |
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re; surveying. What have courts established as the weight or priority of evidence? |
-natural boundaries: e.g. rivers -original monuments;e.g. stone, iron bars and other items set during the first running lines -physical evidence of ground takes precedence over written evidence in transfer/deed |
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How does the surveys Act define a valid survey? |
"NO survey of land for the purpose of defing, locating or describing and line, boundary or corner of a parcel of land is valid unless made by a surveyor or under the personal supervision of a surveyor (part I, Sec. 2, Surveys Act, R.S.O. 1990 |
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What is Surveyor's real property report? |
A plan of survey consisting of two parts: plan of survey and the written report |
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What are 10 things the Surveyor's real property report must have to be complete and accurate? |
-municipal address and info re: land titles or registry office designations -dimensions and bearings of all property boundaries, as determined by a feild survey, according to SSOALS -the designation of adjacent properties, roads, lands, etc -location and description of all pertinent improvements on the property, along with setbacks to the property boundaries. the projection of overhangs and eaves , fences, driveways, walkways, swimming pools, trees, etc -location of easements and right of way -location and dimensions of any visibl eencroachments onto or off the property (hydro lines, telephone etc) -location of survey monuments found and placed -a note indicating for whom the plan is prepared -certification by an Ontario Land Surveyor -Written report - |
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re: surveys. what is a reference plan? |
a survey that normally describes more than one interest in land ( each interest identified as a part ) which is deposited in a land registry office. |
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what are reference plans normally required for |
-severance of an existing lot or parcel. The refence plan is for descriptive purposes only, as a formal consent for a land severance is required -any instrument that is submitted for registration within the land registry office and the description is sufficiently vague or complex in the opinion of the land registrar -first application (first registration) under the Land Titles Act |
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What are the two major differences between a reference plan and a plan of survey? |
-the plan cannot be deposited as a seperate document with the title in a land registration office, as it lacks certain certificates and other items required by the Registry Act or the Land Titles Act -A survey normally describes a specific property while a reference plan usualy describes several properties |
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what is a Plan of Subdivision? |
A detailed survey indicating lots, blocks of land, road allowances, etc. |
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re: condos. What is a declaration? |
a condo document required for registration that sets out the responsibilities of the owners and condo corporation |
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re: condos. What is description? |
A diagrammatic presentation of the condo property and structures on that property. |
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What are the different road categories? |
-provincial highways -county roads -township and municipal roads |
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what are the two registration systems that exist in Ontario? |
The registry act land titles act |
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what is a chain of title? |
going back to every title holder on record up to 40 years |
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The land titles system operates in accordance with what three principles? |
-mirror principle -curtain principle -insurance principle |
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what is the mirror principle? |
the register of title is a mirror that reflects accurately and completely, beyond all argument, the current facts that are material to a person's title. This pertains to the way the land titles system operates |
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what is the current principle |
The register is the sole source of information for proposed buyers, who need not and indeed must not, concern themselves with trusts and equities that lie behind this curtain of information. this pertains to the way the land titles system operates. |
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what is the insurance principle? |
The mirror (register) is deemed to give the absolute correct reflection of title, but if through human error flaw appears, anyone who suffers loss must be put in the same position, so far as money can do, that he would have been in had the reflection been a true one. |
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what are the 11 parts the land titles act is divided into? |
1. preliminary (definitions) 2. organization and administration 3. jurisdiction of the court 4. application for first registration 5. assurance fund 6 part owners 7. subsequent registrations 8. descriptions of land and registered plans 9. fraud 10. rectification of the register 11. regulations and procedure |
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What is the difference between land titles assurance fund and title insurance? |
-Assurance fund is designed to provide financial compensation for persons wrongfully deprived of land or some interest therein, due to the land being brought under this act or by some reason of some other person being registered as owner through fraud or, by reason of any misdescription, ommission or other error in a certificate of ownership or charge, or in an entry on the register. -title insurance |
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what is an LRO? |
Land Registry Office |
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If you wanted to search property records at a paper-based LRO what would you have to do? |
prepare a Request for Service form and pay a fee |
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what does title searching refer to? |
It refers to locating, organizing and condensing pertinent facts about documents and other related materials registered on title. |
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other than being a repository for land registration documents what are some role of LROs? |
Some provide access to other registration systemssuch as the Personal Property Security Registration System (PPSR). Some also provide services for corporate, birth, marriage and death certificate registrations |
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What is the PPSR? |
Personal Property Security Registration System records and stores info concerning purchases of goods and other personal property used to secure loans regarding such purchases. Personal property filed with PPSR is referred to as chattel. Under the PPSR, the creditor (secured party) files a financing statement that includes the names and addresses of the debtors, classification of the chattel and a brief description. Generally registration of the financing statement must be done within 30 days following the signing of a security agreement. |
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what does POLARIS stand for? |
Province of Ontario LAnd Registration and Information |
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What does LTCQ stand for? |
Land Titles Conversion Qualified |
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What is Land Titles Conversion Qualified? |
Land Titles is one of two registration systems in Ontario and when a property's title is being converted to the POLARIS system there is an investigation and the property converted to land titles will bear the initials LTCQ wich is not the same as land titles absolute. |
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What does LTA stand for? |
Land Titles Absolute |
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What is the difference between LTA and LTCQ? |
LTCQ is a property that has been convertedwhen you have a property that is LTA it means the property was cleared of any qualifiers such as adverse possession etc. which would make it an LTCQ
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what is LTA? |
Land titles absolute is a property that has been deemed free of any adverse possession. |
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re: polaris, what is pin? |
Property Identification Number. A number assigned to property when it is converted to polaris. |
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What are the 5 standard registration forms (documents)? |
1. transfer /deed of land 2. charge/ mortgage of land 3.discharge of charge/mortgage 4.document general 5. schedule |
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Properties in an automated land registry office can be searched using a nine digit number referred to as? |
Property identification number |
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A sequence of conveyances and encumbrances affecting title over time under the registry system is commonly referred to as? |
chain of title
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the registration of goods, services and personal property is handled under a system referred to as? |
personal property registration system
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the land transfer tax affidavit involves the payment of land transfer tax to the Ministry of ? |
finance
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Standard charge terms were introduce into the land registration process under legislation titled...? |
land registration reform act
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Who executes a discharge of Charge/ mortgage? |
mortgagee
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Who verifies that a mortgage has been paid and can be discharged? |
mortgagor |
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A lessee (tenant) having a lease exceeding 21 years may make application to the registrar in the applicable land registry office to have a ... opened? |
leasehold parcel |
