Chapter 4

Question 1

Deed

Answer 1

Mean legal documents

Common law

Question 2

Land title act has

Answer 2

Abolished the common-law doctrine in BC

Question 3

Three requirements for the BC tour system of registration

Answer 3

Must be a good faith purchaser

Must have paid fair market value for the house

Must have registered the title and land title office

Question 4

Indefeasibility principle

Answer 4

Guarantees a fee simple purchaser in good faith is not required to investigate how the owner got his title and protect by the land title and is protected by our land title system

Question 5

Which of the following is an accurate statement about the principle of Indefeasibility

Answer 5

The principal of Indefeasibility operates on the basis at the register owner on the title conclusive evidence of the person entitled to the fee simple estate

Question 6

Commercial lease

Answer 6

Lease were tenants have lived for three years or less

Question 7

Which of the following is not an exception to the principle of the Indefeasible under the BC Torrens system of the land registration

Answer 7

Registered MORTGAGE where the register mortgagee affects registration by fraud

Question 8

Abolition of notice

Answer 8

Does not protect producer who participated in fraud

Question 9

Which of the following statements about the common-law doctrine of notices faults

Answer 9

The doctrine is the basis of the BC Torrens system.

Question 10

The abolished of the doctrine of noticed by land title act to the subject exception of

Answer 10

Fraud

Question 11

Assurance Principle

Answer 11

Lost in land
Cannot recovered
Result of the principal of Indefeasibility (if land title act had not been passed)

Question 12

Certificate of pending litigation (CPL)

Answer 12

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

Question 13

Builders liens

Answer 13

45 days to file lien

Question 14

Protection from builders lien

Answer 14

Whole bag is 10% of the price you have to have to pay until 55 days after the project has completed.

Individuals purchasing straw lot from us from the owner developer hold back 7% of the gross purchase of 55%

Question 15

Form A

Answer 15

Is a fee simple title

Question 16

Which of the following document is used to transfer a fee simple title in the land title office from the seller to the buyer

Answer 16

Form A freehold transfer

Or Property taxes

Question 17

Title Insurance

Answer 17

Title insurance has become common in British Columbia even though BC is a Torren jurisdiction

Question 18

Which of the following is false for respect to title insurance in BC

Answer 18

Title insurance has no importance in BC due to the Indefeasibility principle

Question 19

Which of the following is true with respect to title insurance in BC

Answer 19

1. Tends to cost less than a survey of a property.
2. May be required by a lender as a condition of approving a mortgage application.
3. Can provide coverage for many aspects of the land that do not involve the Torren system

Question 20

The deckle is not equivalent to certificate of title

Answer 20

But it’s a proof of registration under the manufactured home act

Question 21

Transport permit

Answer 21

Register
Only valid 30 days
Pay the taxes.

Question 22

Which the fire Station is regarding a manufactured home registration is faults

Answer 22

If an owner discovers that his or her manufactured home is not registered he or she must register the home within 30 days of discovery