Chapter 4 random Flashcards
A fee simple owner in BC who is the victim of a fraudulent conveyance of his or her land will lose the right to have the transfer set aside when:
(1) the transfer of the property to the dishonest person has been registered in the land title office.
(2) the title to the property has been transferred to a good faith purchaser for valuable consideration.
(3) the guilty party has been convicted of fraud by a court.
(4) he or she notifies the registrar of land titles that fraud has occurre
2
The abolition of the doctrine of notice by the Land Title Act is subject to the exception of:
(1) innocent misrepresentation.
(2) fraud.
(3) breach of contract.
(4) quantum meruit.
2
Where a registered owner discovers that his title has been transferred by forgery to another person, and registered in the forger’s name, he should:
(1) try to repurchase it from the forger who is now the registered owner.
(2) file a caveat to prevent the forger from transferring the property to a bona fide purchaser.
(3) register a judgment against the title to recover his title to the property.
(4) remove the duplicate certificate of title from the land title office.
2
Earl is the registered owner of Blackacre. Duke forges and registers a transfer of Blackacre to himself. Duke then borrows $50,000 from Royalty Trust Co. The loan is secured against Blackacre by way of a mortgage. Which of the following statements is TRUE?
(1) Royalty is secure in relying on Duke’s title.
(2) Earl can recover Blackacre but the title to the property will remain encumbered by the Royalty Trust Co. mortgage.
(3) Because of the forgery, Earl can recover Blackacre free of the Royalty Trust Co. mortgage.
(4) Royalty Trust Co. may obtain its $50,000 back from the Assurance Fund.
2
Which one of the following statements is FALSE?
(1) The principle of indefeasibility protects an innocent fee simple purchaser dealing with the registered owner of a fee simple interest.
(2) The principle of indefeasibility extends to charges registered against property.
(3) A registered owner of property may lose an interest in land through the operation of the principle of indefeasibility even though nothing has been done to deserve the loss.
(4) An exception to the principle of indefeasibility is a lease of 3 years or less where there is a tenant in occupation.
2
In order for a person to make a successful claim against the Assurance Fund in BC, he or she must prove three of the following. Indicate the EXCEPTION.
(1) He or she has lost an interest or estate in land.
(2) He or she cannot recover that interest or estate by court action.
(3) The person who deprived the injured party of his or her interest or estate in land has resold the interest to a bona fide purchaser for valuable consideration.
(4) If the Land Title Act had not been passed, he or she would have recovered the interest in land by a court action.
3
Sections 15 and 18(1) of the Manufactured Home Act provide that no person shall move a manufactured home UNLESS:
(1) the manufactured home is registered in the land titles office.
(2) the manufactured home is registered in the manufactured homes registry, and a transport permit has been obtained from the registrar.
(3) the manufactured home is free of any security interests registered against it in the personal property registry.
(4) he or she is the registered owner of the manufactured home.
2
A caveat is:
(1) a warning issued out of the Prosecutor’s Office.
(2) formal notice that a court action has been commenced.
(3) formal notice that a builder’s lien has been filed against the property.
(4) a notice placed on the land title register at the request of a person who claims an interest in the land.
4
Before a transport permit will be issued with respect to a manufactured home, the registrar must be satisfied that:
(1) all of the security interests registered against the home are validly registered.
(2) the home will be moved using proper equipment.
(3) the registered owner is a resident of Canada.
(4) all taxes on the home have been paid.
4
Which of the following statements regarding manufactured home registration is FALSE?
(1) Except as between the parties to the transfer, the transfer is not effective unless the home is registered.
(2) A person must not import a manufactured home into British Columbia unless ownership of that home has been registered.
(3) Upon completion of the initial registration of a manufactured home, the registrar will assign it a registration number and issue two decals bearing that number.
(4) If an owner discovers that his or her manufactured home is not registered, he or she must register the home within 30 days of that discovery.
4
A clerk in the land title office mistakenly registered a fee simple transfer on the wrong title, with the result that Lot 5, owned by Michael, was transferred to Scott. Scott discovered this error and, instead of correcting the error, he sold the property to another person who was unaware of the clerical error and of Scott’s dishonest conduct. Michael discovered the error after the buyer had registered the transfer from Scott. He wants his land restored to him and the register corrected. You correctly advise Michael that:
(1) because this situation was caused by a clerical error, the Registrar will correct the register and restore Michael’s property to him.
(2) the person who bought the property, bona fide and for value, from Scott is protected by the B.C. land title system; as a result, Michael cannot have his property restored to him.
(3) Michael contributed to his own loss by neglecting to register a lien on his title to indicate to anyone searching title that he was the registered owner; as a result, he cannot recover damages in a lawsuit against Scott.
(4) None of the above statements is correct.
2
Andrew forged a mortgage and registered it against the fee simple title of Julia, without her knowledge. Andrew then went to the Handy Dandy finance company and sold the mortgage to them. Wendy, an employee of Handy Dandy, searched the title and ascertained that Andrew was the registered mortgagee, prior to buying the mortgage from Andrew. Subsequently, Julia learned of the mortgage when Handy Dandy sent notice to her instructing her to make her payments in future to Handy Dandy. Julia told Handy Dandy that she had never granted a mortgage to anyone, and that she had no intention of paying them anything. Andrew is now living happily in Bolivia. Which of the following statements is TRUE?
(1) Handy Dandy’s mortgage is protected under the Land Title Act, since they dealt with the registered holder of the mortgage, and relied on the register.
(2) Julia will be obliged to repay the mortgage to Handy Dandy, but she will be entitled to recover that amount from the assurance fund.
(3) Handy Dandy will not be able to recover the mortgage debt from Julia, but they will be able to recover the amount of the mortgage from the assurance fund.
(4) Julia will be able to have Handy Dandy’s mortgage removed from her title, and Handy Dandy will have no recourse, except against Andrew.
4
the principal that the person named on a particular certificate of title is entitled to a fee simple interest in that property free from any conditions or encumbrance that is shown on the title is known as
1 assurance principle
2 entitlement principle
3 fee simple principle
4 indefeasibility principle
1
which of the following statements about the principle about the about the statements that apply to all strata developments in british columbia is true
- the strata property act generally does not apply on first nations reserve land subject to some exceptions
- the strata division of the civil resolution tribunal conducts random audits to verify the compliance of strata corporation with strata legislation
- residential strata developments that consist of 3 or fewer units are not required to hold anual general meetings
- commercial and industrial strata developments are subject to seperate and enhanced subset of compliance requirements under the strata property act
1
jacob hires choo choos contractor to renovate his living room for his train collection. choo choos sub contracts jennifer who does the electrical work. choo choos goes out of business. which of the following can jennifer do..
- jennifer has 45 days to file a builders lien after the project is completed, ended or abanded.
- if jacob sells his property before jennifer files the builders lein, then any lien she files will affect jacob on the purchaser
- jennifer can not file a builders lien because subcontractors who were not hired directly by the owner, of a property can not file builders lien, they can only sue the general contractor directly.
- if jacob had held back 7% of the total price that he agreed to pay choo choos for the work, then he will be liable for a maximum of 7% holdback, regardless of how much jennifer has claimed on the builders lien.
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