Credit And Debit

Question 1

Consumer proposal

Answer 1

Debt <250k( except mtg)
Payment in max 5 yrs
Discharge in 9 months (1st time)
Discharge in 25 months ( if prev bankruptcy)
Record on credit bureau 6-7 yrs

Question 2

Title registration systems in canada (3)

Answer 2

1. Registry system
2. Land title system
3. Quebec system of hypothecs

Question 3

Eminent domain

Answer 3

Govt has the power to expropriate property for public use with compensation to owner

Question 4

Easement

Answer 4

Eight acquired for certain time for ex road access or placement of hydro pole

Question 5

Usufruct

Answer 5

The right to use and enjoy the property owned by someone else for a period of time

Question 6

Emphyteusis

Answer 6

Leasing property , lesser right supersedes owners rights

Question 7

Servitude

Answer 7

The right if one property owner to use another property like to lay a pipeline for ex

Question 8

Cadastre

Answer 8

Public record showing details of land ownership in Quebec