Course 1, Module 4, All lessons

Question 1

Land description is the legal description of the property and is important because it clearly identifies the property. As a salesperson, the importance of accurate land description should never be underestimated, whether representing a seller or buyer.

In what instances are legal land descriptions used?

*Select all that apply.

A) Transferring title
B) Mortgaging a property
C) Registering an easement
D) Listing a property for sale
E) Drafting an agreement of purchase and sale
F) Marketing a property for sale

Answer 1

A-E

Question 2

A salesperson is meeting with a potential seller who is considering severing a large lot and selling two parcels of land once severed.

What type of survey is required to apply for a severance?

*Choose the correct answer.

A) Plan of Subdivision
B) Plan of Survey
C) Reference Plan
D) Surveyor’s Real Property Report

Answer 2

C) Reference Plan (normally describes more than one interest in land and divides the land in parts to convey this. perfect for consent to sever)

Question 3

A salesperson is representing a seller who has accepted an offer from a buyer. This is the seller’s first property and they are curious how the title will be transferred to the buyer upon completion of the transaction. The seller asks the salesperson to explain the transfer process.

In what order does the e-registration steps need to follow?

*rearrange the steps below.

A) The buyer’s lawyer is provided access to the document
B) Electronic signature for completeness is required
C) Seller’s lawyer creates Transfer/Deed of Land
D) The buyer’s info is added to the document
E) Electronic signature for release

Answer 3

1. C)
2. A) (at this point buyer’s lawyer checks for writs of execution against the seller [basically making sure they are above board] before putting clients name on it)
3. D)
4. B)
5. E)