Module 3 Flashcards
In a leasehold estate:
a. The person to whom the interest is granted is called the lessor.
b. the interest in land must be must be for a period of time less than 50 years.
c. An interest in land is granted for a specific time period.
d. the tenant acquires a fee simple interest in the land
C
Wilson owns a property registered under Land Titles, but allows Patel to occupy it for a period of 15 years, Patel claims adverse possession. What will be the likely outcome?
a. Patel will not be granted ownership of the property by adverse possession, because Wilson aware of Patel’s occupancy of the property.
b. Patel will be granted ownership of the property by adverse possession, as the length of possession exceeds the minimum 10-year period.
c. Patel will not be granted ownership of the property by adverse possession, because the property is registered under land Titles.
d. Patel will not be granted ownership because the minimum time period for adverse possession is 20 years.
C
If owner Stratton buys a northern waterfront but it is told that a gold prospecting firm has rights to enter the land, what rights does that firm have?
a. Gold rights
b. Prospecting rights
c. Riparian rights
d. Mineral rights
D
The property at 127 Winston Avenue in Some City has a registered easement over a portion of the rear yard of 125 Winston Ave. in this situation:
a. The property at 125 Winston Avenue is the dominant tenement.
b. The property at 127 Winston Avenue is the dominant tenement.
c. If the owner of the 127 Winston Avenue decides to sell, the easement will cease to exist.
d. The owner of 125 Winston Avenue can terminate the arrangement at anytime.
B
Eminent domain refer to:
a. The reversion of property to the state(i.e. the government) when someone dies without a will or any legal heirs.
b. a municipal right to a zoned property for various uses.
c. The right of a municipality to collect real property tax.
d. The government’s right to expropriate property for public use.
D
Riparian rights involve:
a. the right to use the surface of the land.
b. the right to explore and develop mineral deposit.
c. the right to lease an owned property.
d. the right of a waterfront owner to access and use the water.
D
Which of the following statements is correct regarding condominiums?
a. an equity cooperative is one of the several types of condominium found in Ontario.
b. A ski hill could be developed as a common elements in a condominium.
c. A ‘Parcel of Tied Land’ is a term used in relation to a standard condominium.
d. A unit owner in a standard condominium is also a joint tenant, along with other unit owners, in the of the common elements.
B
Miller is buying a residential unit in a standard condominium. As such, he will hold a tittle to a specific unit and:
a. not hold any interest in the common elements of the condominium.
b. a fee simple ownership of the common elements.
c. own a share of common elements as a tenant in common with the other owners.
d. hold a lease hold interest in common elements.
C
Cooperative housing:
a. Involves joint ownership in which a property is owned by corporation the member lease specific units.
b.is managed by the cooperative agency, create pursuant to the co-operative, corporate Act,
c. provides that shareholders in an equity co-operative can own specific units.
d. hold the leasehold interest in common elements.
A
An equity cooperative:
a. involves ownership in the corporation by the way of a share certificate, along with an occupancy agreement for a specific unit in the building.
b. is one in which the corporation owns the land/buildings, but doesn’t allowed members to be shareholders.
c. provides that individuals can own specific units in the co-operative building.
d. is essentially the same as a non-profit-cooperative, both the right to own shares in a cooperative.
A
Under contract law, the right to survivorship:
a. applies to some tenants in common ownership situations.
b. means if a joint tenant dies, his or her ownership interest reverts to the government.
c. means if a joint tenant dies, his or her ownership interest passes his or her estate.
d. means if a joint tenant dies, his or her ownership interest passes to the surviving joint tenant.
D
Which of the following is NOT an example of concurrent ownership?
a. Three individuals that own a large home as joint tenants.
b. Two individuals that own a large hone as joint tenants.
c. Five individuals, that own cottage property as tenants in common.
d. An individual who owns two pieces of property of the same time.
D
Which of the following is NOT correct regarding public utility easements?
a. Public utility easements are create by statute.
b. Public utility easements must have both dominant and servient tenement.
c. Public utility easements are commonplace in residential areas.
d. Public utility easements might be needed for such things like telephone cable.
B
If property owner Aaron needs an easement over Property Owner Cameron’s lot in order to access Aaron’s backyard and the two owners agree to the arrangement, the easement has been created by:
a. statute
b. Implication
c. Prescription
d. Express Grant
D
Fee simple is:
a. an estate having minimal rights, as the name simple implies.
b. a type of property ownership in which the holder is given unlimited rights, with no restrictions.
c. the highest estate in real property.
d. synonymous with leasehold estate.
C
