1.4 Title registration Flashcards
CPL is known as
certificate of pending litigation
Developers must hold back (X) purchase price for (Y) days
7% for 55 days
in the land title system a property registered subject to a trust, will be shown by
a notation of trust on the title
how long will a caveat lapse after registered on a title
automatically after two months
4 basic principals of the title registration system
indefeasibility, effect of registration, abolition of notice, assurance
title insurance
may be required by a lender as a condition of approvig a mortgage application
What does a caveat do?
notice placed on the title to freeze it. lapses iin two months
What does the CPL do?
prevents dealings with respect to the property
If a property registered subject to a trust it will be shown by
a notation of trust on the title
What document is used to transfer a fee simple title from the seller to the buyer
a form a freehold transfer
What title will show or be noted on the title of the property?
Joint tenancy, an easment, restrictive covenant, building scheme
What is more likely to be in the CSR. Residental or commerical property
commerical property
