Chapter 4 - Title Registration and Strata Properties

Question 1

Certificate of title - Charge

Answer 1

an estate or interest in land less than a fee simple that can be registered under the Land Title Act. Charges include all encumbrances, such as judgements, mortgages, statutory rights of way, easements, covenants, leases, and liens

Question 2

conducting a title search means…

Answer 2

obtaining a copy of the certificate of title through myLTSA and reviewing that title.

Question 3

duplicate certificate of title

Answer 3

cannot be issue if title is subject to mortgage or agreement for sale. will not register transfer , mortgage, or long term lease until duplicate is returned to office. can register short term lease, easements, certificates pending litigation and builders’ liens.

Question 4

caveat

Answer 4

a notice registered against the title to land warning those looking at the title that a claim has been made

Question 5

certificate of pending litigation

Answer 5

a notice of a pending court action registered against the title to property for the purpose of warning all persons that the title to the property is in litgation and preventing dealings with

Question 6

builders lien

Answer 6

a claim registered against the title to land by a contractor, supplier of materials, or workman with respect to work done or materials supplied to improve the land

Question 7

section 219 covenant

Answer 7

provincial or local government require owner to register a covenant restricting use of land and can be positive or negative in nature

Question 8

section 57 notice

Answer 8

unsafe for habitation, not in compliance with municipal bylaws and/or provincial building regulations (ie. grow ops, no building permit, etc)

Question 9

title insurance

Answer 9

indefeasibility only for fee simple, not charges. coverage for items not part of Torrens system (zoning and property boundaries). cheaper than legal lot survey. title insurance is for benefit of lender, not owner.

Question 10

strata - common property

Answer 10

any part of a strata plan that is not a strata lot, and a variety of service facilities, depending on their location and use

Question 11

strata lot

Answer 11

the parts shown on the strata plan that are created for individual ownership

Question 12

essential strata principles

Answer 12

strata is a strata, self-enforcing, not on first nations land

Question 13

schedule of unit entitlement

Answer 13

a table included in the strata plan that sets out each owner’s proportionate interest in the common property. it is often used to calculate a strata lot owner’s share of a strata corporation’s expenses

Question 14

limted common property

Answer 14

common property designated for the exclusive use of the owners of one or more strata lots

Question 15

common property

Answer 15

any part of strata plan that is not a strata lot and a variety of service facilities, depending on their location and use

Question 16

special levy

Answer 16

additional contribution applied against owners by the strata corp, usually for unexpected expenses. approval will require either 3/4 vote or a unanimous vote

Question 17

builders’ lien

Answer 17

claim registered against the title to land by a contractor, supplier of materials or workman with respect to work done or materials supplied to improve that land.

Question 18

indefeasibility

Answer 18

In BC, subject to certain statutory exceptions, the Title Register is conclusive evidence that the person named as holding an estate in land is in fact entitled to that interest, and his holding is not subject to any condition or encumbrance other than those shown on the Title Register.

Question 19

Torrens land registration system

Answer 19

a system for registration of the actual title to land in order to provide security to those holding interests in land and to remove the need for retrospective investigation of titles to land.

Question 20

depreciation report

Answer 20

an estimation of the repair and replacement cost for major items owned by the strata corporation and the expected life of those items.

Question 21

short term exclusive use

Answer 21

is a special privilege granted to owners and tenants to exclusively use common property that is not designated limited common property.

Question 22

certificate of pending litigation

Answer 22

a notice of a pending court action registered against the title to property. Its purpose is to warn all persons that the title to the property is in litigation and to prevent dealings with respect to the property.

Question 23

caveat

Answer 23

a notice registered against the title to land warning those looking at the title that a claim with respect to an estate or interest in that land has been made.

Question 24

Assurance Fund

Answer 24

established by the BC provincial government to compensate any person who is deprived of land because of the operation of the Land Title Act in certain cases where fraud has been committed, a mistake has been made, or an improper act has been performed by the Registrar of Titles or his/her employees.