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UBC Real Estate Licensing Exam > Chapter 1.4 Title Registration > Flashcards

Chapter 1.4 Title Registration Flashcards

1
Q

_____ is any document under seal (conveyance of real estate)

A

Deed

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2
Q

The _______________ doctrine conflicts with the torrens system

A

Common law doctrine

They’re opposites

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3
Q

The __________________ has abolished the common law doctrine in BC

A

Land title act

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4
Q

The common law doctrine is not the basics of the _________________

A

BC torrens system

They’re like opposites remember

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5
Q

The _______ is responsible to discover all interests affecting property

A

Purchaser

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6
Q

___________: a deed that looks valid but has no legal effect

A

Void deed

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7
Q

A void deed cannot transfer any ____________________

A

Title in the land

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8
Q

Non-est factum is Latin, meaning roughly what

A

I didn’t know what I was signing

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9
Q

A void deed can also be known as

A

1) forged
2) illegal
3) non-est factum

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10
Q

Under common law, your land was not secure for __________

A

20 years

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11
Q

Under a void deed, the right owner could recover his land by proving he is the right owner. What system was this rule under?

A

Common law

Old school system

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12
Q

To be protected under the Torren’s system of land registration, what 3 things must you do

A

1) must be a good faith purchaser
2) must have paid fair market value for the house
3) must have registered their title (name) in the Land Title Office

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13
Q

Indefensible is a protective word for

A

Purchaser / owner

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14
Q

Indefensible basically means

A

Once a title to property is registered, it is secure and cannot be challenged or overturned, except in very limited circumstances

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15
Q

Indefensibility Principle

A

Purchaser, in good faith, named on title, will be entitled to that fee simple interest

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16
Q

_____________ does NOT extend to charges

A

Indefeasibility

Charge is not indefeasible

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17
Q

Only _____ is guaranteed under the act, no charges

A

Title

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18
Q

If charges are not allowed to be claimed under indefeasibility, what does this mean?

A

It means that even if these charges are registered on the property title, they can still be disputed or challenged in court.

Ex. If you buy a house and there’s a registered mortgage on it, someone could go to court and argue that the mortgage is invalid/fraudulent, and it might be removed from the title.”

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19
Q

Effect of registration

_______ to Land does not pass until it’s registered

A

Title

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20
Q

Effect of registration

Delivery of a deed only transfers a right to apply for ___________

A

Registration

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21
Q

Abolition of Notice

A purchaser only needs to be concerned with those interests contained on the __________

A

Register

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22
Q

Abolition of Notice

Does not protect purchaser who participates in _______

A

Fraud

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23
Q

The _________________ is intended to compensate parties

A

Assurance principle

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24
Q

The Assurance principle is intended to compensate parties who;

A

1) lost interest in land
2) as a result of the Principle of indefeasibility (meaning of the land title act had not been passed they could have reclaimed their land)
3) and cannot recover their lost interest by court action

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25
Q

There are multiple exceptions to the principle of indefeasibility, name some:

A

1) reservations in crown grants
2) taxes (unpaid taxes)
3) leases where tenant has lived for 3 years or less
4) fee simple obtained by fraud
5) a public right of way in favour of BC hydro and power authority
6) municipal charges
7) highways and easements
8) expropriations, escheats
9) caveat, builders lien
10) incorrect boundaries

26
Q

What is a caveat

A

A legal notice registered on a property’s title to warn potential buyers or other interested parties that someone else has a claim or interest in the property.

27
Q

What does CPL stand for

A

Certificate of pending litigation

28
Q

What is a Certificate of pending litigation?

A

A notice of a pending court action registered against the title, preventing dealings with respect to property

Example: in the middle of a divorce this will apply so you can’t sell the land

29
Q

Upon the completion of the project, a builder has ____ day to file a lien

A

45

30
Q

Once the builder has filed the lien on the property, how long is it good for?

A

Lasts for 1 year

31
Q

How to protect yourselves from builder liens

A

-hold back 10% of the price you have to pay until 55 days after the project has completed
- make sure the contractor pays the subcontractors before you pay them fully

32
Q

Protecting yourself against a builder lien for strata lots

A

7/55 rule

Must hold back 7% of the gross purchase price for 55 days after the project is substantially completed, ended, or abandoned

33
Q

Notation of trust

A

When a property is not registered in the name of a beneficial owner (owns the property until kid is 18)

The trustee is not the beneficial owner of the property but holds it in trust

34
Q

What are the 2 documents required to transfer legal title from a seller to a buyer

A

1) a freehold transfer “Form A”

2) property transfer tax

35
Q

What are some of the charges

Aka other interests less than fee simple

A
  • mortgages
  • easements / restrictive covenants
  • building scheme
  • caveat
  • builders lien
  • duplicate Certificate of Title
  • pending litigation (court action on the property will hinder the sale)
36
Q

_______________ has become common in BC

A

Title insurance

37
Q

Title insurance Costs less than a_______________________

A

Survey of the property

38
Q

____________ may be required by a lender as a condition of approving a mortgage application

A

Title insurance

39
Q

Title insurance can provide coverage for many aspects of the _____

A

Land

40
Q

What does CSR stand for?

A

Contaminated Sites registry

41
Q

The ______________________ will never show up on a title search

A

Contaminated sites registry

42
Q

______________________: information about potentially contaminated sites can be obtained through the British Columbia ministry of Environment’s site registry, which is available through BC Online

A

Contaminated sites registry

43
Q

Contaminated sites registry (CSR) does not deal with any _____________

A

Title matters

44
Q

It is far more likely that a contaminated site registry will exist for a _________ rather than _________ property

A

Commercial rather than a residential property

45
Q

Manufactured homes are also known as

A

Mobile homes!

Think of Angie

46
Q

__________ or __________ fund does not apply to manufactured homes

A

Indefeasibility or assurance

Because you do not own the land! Just the pad for the mobile home

47
Q

A manufactured home can be placed on a _____

A

Pad - a slab of concrete basically

48
Q

Manufactured homes have no ________, only registered ownership

A

No title!

If there is no title, then there is no indefeasibility and no assurance fund

49
Q

A manufactured home must have _______________ which are good for the __________ of the home. These need to be affixed within the home

A

2 decals

Lifetime

50
Q

For mobile homes, The 2 decals are not equivalent to a certificate of title, but it’s ________________ under the act

A

Proof of registration

51
Q

The owner of the mobile home must affix the ______ in specified places on the manufactured home. Failure to affix or keep affixed the decals renders the owner liable for a ________

A

Decals

Penalty

52
Q

Mobile Home transport permit, which means

A

You want to move your Mobile home elsewhere

53
Q

A ____________ has to be obtained from the registrar (mobile homes)

A

Transport permit

54
Q

Mobile homes need to be ________ in the manufactured home registry

A

Registered

55
Q

Before issuing a transport permit, the registrar must be satisfied that all ________ on the home have been paid

A

Taxes

56
Q

Transport permits only authorize the _________ of a mobile home to a specific place

A

Movement

57
Q

Transport permits are only valid for ___________ from the date of the issuance

A

30 days

58
Q

The principe of Indefeasibility operates on the basis that the registered owner on title provides conclusive evidence of that persons entitlement to the fee simple estate
True or false

A

True!

Keyword: Indefeasibility = entitled

59
Q

True or false

The principle of Indefeasibility extends to all validly registered charges on title

A

Charges = mortgages

Which we know are not protected

60
Q

The abolition of the doctrine of notice by the Land Title Act is subject to the exception of

A

Fraud

61
Q

If a registered owner loses an interest in land due to the principle of indefeasibility he or she will automatically qualify for compensation from the insurance fund

A

False

Automatically is too strong

62
Q

CPL is known as

A

Certificate of pending litigation

UBC Real Estate Licensing Exam (24 decks)

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