Law Ch 19

Front 1

What distinguishes land from real estate with respect to the legal concept of real property?

Back 1

structures and fixtures

Front 2

Which of the following is most strongly influenced by the fact that much of the earth’s surface is covered by vast bodies of water combined with the fact that land is permanent and immovable?

Back 2

the value of the land

Front 3

Why has statute law become an increasingly significant factor with respect to land conservation and environmental protection?

Back 3

because of greater public policy concerns

Front 4

What is the legal term for the legal interest considered to be the closest to full ownership in real property?

Back 4

fee simple

Front 5

Isabella and Martina are joint tenants of a commercial warehouse. What would happen if eitherIsabella or Martina were to die?

Back 5

Each interest is subject to a right of survivorship, and the rights of the deceased owner would pass to the surviving owner.

Front 6

Which of the following is “tenant” synonymous with in the realm of real property law?

Back 6

an owner of any form of right or title in land

Front 7

What distinguishes an undivided one-half interest held in a tenancy in common from a one-half interest held in a joint tenancy with respect to the co-ownership of real estate?

Back 7

Each owns an undivided interest in ownership of their portion.

Front 8

Aaron and Janelle enjoyed years of experiences shared through their rewarding ownership of Crystal Lake Cottage Resort Inc. When Aaron died unexpectedly, the title automatically transferred to Janelle. Aaron’s family has decided to dispute Janelle’s right to ownership. What is the name given to the type of ownership interest enjoyed by Aaron and Janelle that allowed her to acquire ownership in this manner?

Back 8

joint tenancy

Front 9

Now that approval of the zoning variance has been confirmed by the seller’s lawyer, William’s company is completing its purchase of a vacant piece of land for commercial development. What is the valid reason for William’s company making the possibility of the completion of this transaction subject to this requirement?

Back 9

restrictions on land use by municipal regulation

Front 10

The city has decided to green up its public transportation system by converting to light rail transit. Plans are underway to commence compensation negotiations with affected landowners. What is the legal name given to the type of authority that has been exercised in these circumstances?

Back 10

authority to expropriat

Front 11

eFrançois and Wallace have been neighbours for ten years. François arranged to have a new garage constructed in his backyard. He provided the builders with his surveyor’s certificate, but after completion the garage encroached onto Wallace’s land. What is the most likely and amicable method of resolving the encroachment?

Back 11

an easement agreement

Front 12

Which of the following is a common policy shared among many world nations?

Back 12

the restriction on the quantity of land allowed to be owned by foreign interests

Front 13

Sarafal was disappointed to learn that she would be unable to plant a hedge along the front borders of her property. She didn’t object to having mountain ash trees planted along the street, but the absence of any possibility of a hedge affected her purchasing decision. In this instance, what is the ability to place conditions on ownership most strongly influenced by?

Back 13

a restrictive covenant

Front 14

Meagan has been asked to search the chain of title to a cottage property located on the Lake of the Woods in Northwestern Ontario. What was the most likely result of the investigation if the deal proceeds after Meagan completes the search?

Back 14

verification of ownership and clear title

Front 15

In what way is a registry system different from a land titles system?

Back 15

absence of responsibility for validity of documents

Front 16

Belle Blue works in the land office in Vancouver as a document examiner. She doesn’t look forward to the typically overwhelming workload during the summer months. What is the significance of Belle’s role with respect to the type of registry system she is employed in?

Back 16

the land titles system, which is responsible for the validity of information it gives

Front 17

What are the circumstances that would allow a party to disregard the particular type of registry system used to register documents securing a loan against a title?

Back 17

where the right to an interest prioritized by registration is at issue

Front 18

Sylvano requested a copy of Certificate of Title No. 12312 from the land titles office. He intends to purchase the land for development if it is unencumbered by registrations affecting its use. This particular land titles office maintains an insurance fund to compensate for loss due to their error. What significance does that fact have with respect to the copy of title Sylvano will receive in exchange for payment of the prescribed fee?

Back 18

It is authoritative proof of the status of title.

Front 19

What is the meaning of the Latin term caveat emptor?

Back 19

buyer beware

Front 20

Drew meets with Sherry to have a second look at an apartment block his corporation may be interested in purchasing. Why might Drew call an appraiser when he returns to the office?

Back 20

to get a formal valuation based on the structure and market

Front 21

Drew submitted two offers to purchase for two apartment buildings. Of course, he made the offers subject to financing approval. What is the effect of this condition?

Back 21

The offer will be void if his lender does not grant a mortgage.

Front 22

Juha and Tesalle presented an offer to purchase at $15 000 below Rickie’s asking price for her home. Rickie did not accept the offer, stating that she would accept $2000 less than asking price. The couple countered, offering $5000 below asking price, with the appliances included, and Rickie accepted. How many offers did this transaction require before a contract of purchase and sale existed?

Back 22

three

Front 23

Which of the following is a primary contributing factor regarding the necessity of a registry search to consist of a 40-year history?

Back 23

to ensure a clear title to the property

Front 24

Often, matters relating to either the supply of water or soil contamination are addressed in an accepted offer for the purchase and sale of real property. Which of the following is most likely to be a valid statement with respect to future legal relevance in instances where such matters are addressed in this manner?

Back 24

They are both forms of contractual warranties that survive closing.

Front 25

Martina is purchasing a home in Winnipeg. The closing date is October 1. Each year’s real property taxes are payable in June for taxes owed up to December 31. The amount of the taxes paid by the vendor for the entire year is $2400. In the circumstances of this transaction, which of the following is a valid statement with respect to an adjustment on taxes?

Back 25

The vendor will receive approximately $600 in adjustment from the purchaser.

Front 26

What principle has the Supreme Court endorsed when dealing with the broad social issue of how to balance the need to encourage development and commercial activity with the need to control and prohibit dangerous activities?

Back 26

polluter pays principle

Front 27

On May 1, Orianna forwarded her client’s signed title transfer document, keys, and remote control for the garage door to the purchaser’s lawyer. The items were sent in trust, on the express condition that she receive the payment of the balance of the purchase price in return. John will comply, then submit the transfer document to the registry promptly for registration. In the meantime, which of the following should John’s clients have effectively put in place for the May 1 closing date?

Back 27

a certificate of insurance coverage

Front 28

Jacqueline listed her home for $200 000. She received six offers to purchase, all with a closing date of April 1. She accepted the unconditional offer, though it was $3000 less than the highest offer of $246 000. The purchasers abandoned the deal on March 27. Jacqueline received an unsolicited offer that was $10 000 over the original asking price. She accepted that offer with a closing date of May 15. What remedy, if any, is available to Jacqueline with respect to the first accepted offer?

Back 28

$33 000, damages for contractual breach

Front 29

Merrilee and Keith own several of acres of vacant land adjoining the property where their greenhouse operations and large garden centre facility are located. The greenhouse side of the business is ready to expand. A senior lending officer of ImaBigBank is meeting with Merrilee and Keith to discuss the expansion plans and the financial needs and circumstances of their business. How will the parties most likely be described on the mortgage if ImaBigBank approves the financing?

Back 29

ImaBigBank is the mortgagee, and Keith and Merrilee’s business is the mortgagor.

Front 30

Which of the following is central to a mortgage on commercial property being taken out by a commercial borrower?

Back 30

the agreement on the rate of interest and repayment schedule

Front 31

A mortgage covering the loan arranged by Kryhalla Spa Inc. has been forwarded to the land titles system. What is the most likely result once the document has been registered?

Back 31

Registration creates a charge on land until repayment is complete.

Front 32

Which of the following is synonymous with equity of redemption with respect to real property law?

Back 32

the right to have legal ownership restored upon the repayment of the mortgage

Front 33

A bank took immediate possession of real property for the non-payment of a mortgage installment on its due date. It is taking steps to have the property sold. The bank is aware that, due to poor market conditions, the amount of the mortgage is higher than the value of the property. What are the most likely legal matters that will come before the courts?

Back 33

foreclosure and deficiency

Front 34

In which of the following circumstances will an original mortgagor, who has allowed its mortgage to be assumed by a new buyer, be held liable under the assumed mortgage?

Back 34

if the new buyer defaults under the terms of the mortgage

Front 35

What is the commonality shared by “the right to negotiate their own terms” and “enforcement mechanisms” with respect to real property?

Back 35

the differences between a tenant’s rights under commercial and residential tenancy leases

Front 36

what is the main factor in deciding whether a lease has been created?

Back 36

the legal concept of exclusive possession

Front 37

What is the major consequence of the creation of a lease?

Back 37

exclusive possession

Front 38

Why is a commercial lease dependent upon the value, nature, and size of the property?

Back 38

they determine the complexity of the lease agreement

Front 39

Andrea manages several strip malls for a mid-sized real estate holding company. One tenant appears to have abandoned the offices he had leased, leaving a lot of possessions of value behind. Andrea has taken all of the necessary steps to sell the property and apply the proceeds to the tenant’s rent arrears. What is the legal description of the remedy Andrea is pursuing?

Back 39

landlord’s right of distress

Front 40

which of the following is a distinguishing characteristic of a tenancy that runs from fiscal year to fiscal year?

Back 40

The tenancy automatically renews unless a notice of termination is given prior to expiry.