PM / CHAPTER 4 Flashcards
At common law, absent any registration system, title to land or “ownership” of land was proven by _ _ _ _
ANSWER:
At common law, absent any registration system, title to land or “ownership” of land was proven by PRODUCING ALL OF THE RELEVANT DEEDS
The third principle of the Torrens System is Abolition of _____
**ANSWER:
abolition of notice.**
Explain the defense of Non Est Factum
**ANSWER:
Allows a signing party to escape performance of an agreement “which is fundamentally different from what he or she intended to execute or sign.”**
A claim of non est factum means that the signature on the contract was signed by mistake, without knowledge of its meaning. A successful plea would make the contract void
The first principal of strata developments is _ _ _ _
ANSWER: A strata is a strata
With the Torrens system property is transferred by _ _ _ _ _ instead of by deeds
ANSWER: registration of title
What are the four principals of the Torrens System?
**ANSWER:
Indefeasibility,
The effect of registration,
Abolition of notice,
Assurance principal**
In many parts of the province of BC, ___________ _________ ________ ___________ are registered for mobile home parks, recreational developments, and “gated communities.”
**ANSWER:
In many parts of the province of BC, BARE LAND STRATA PLANS are registered for mobile home parks, recreational developments, and “gated communities.”**
Explain indefeasibility
ANSWER:
Cannot be defeated, cannot be made void
Anyone acquiring an interest in land in good faith for consideration is protected
List 3 exceptions to indefeasibility
Federal/provincial taxes
Municipal charges/assessments
Leases less than 3 years
Public easements
Expropriation
Fraud
**TRUE OR FALSE?
Registered Charges are not indefeasible**
ANSWER: True
Only _______ ____________ can transfer an interest in land.
**ANSWER:
Only REGISTERED DOCUMENTS can transfer an interest in land**
**TRUE OR FALSE
BC system allows a notation of trust**
ANSWER: True
Torrens system is founded on the concept of _________
ANSWER: Torrens system is founded on the concept of indefeasibility
Approximately 94% of the land in BC is in the name of __________.
ANSWER: Approximately 94% of the land in BC is in the name of the provincial Crown
_________ is the highest estate known to Canadian law and is akin to absolute ownership
ANSWER: Fee simple estate is the highest estate known to Canadian law and is akin to absolute ownership
__________ is any part of a strata plan that is not part of a strata lot
ANSWER: Common property is any part of a strata plan that is not part of a strata lot
The part of the property that an individual separately owns is called a ____________ while the rest of the property is called ___________.
ANSWER: The part of the property that an individual separately owns is called a “strata lot.” Informally, we often call this the strata “unit,” while the rest of the property is called the “common property.”
This sets out each owner’s proportionate interest in the common property.
ANSWER: Schedule of unit entitlement
A Strata owner automatically acquires a proportionate fee simple interest in the common property as a _____________ with the other owners in the apartment.
ANSWER: tenant in common
Refers to a project where the developer owns a building and wishes to stratify it
ANSWER: Conversions
What factors will an approving authority consider when reviewing an application for a conversion?
Approving authority must consider the priority of rental accommodation over privately owned housing in the area, any proposals for relocating persons presently occupying the building, and the life expectancy of the building
When reviewing an application for conversion the approving authority will also consider the impact on local tax revenues.
ANSWER: False
When considering an application for conversion, If the building is occupied by residential tenants, then the __________ also applies.
ANSWER: Residential Tenancy Act
The strata owner automatically acquires a proportionate ______ ________ interest in the common property as a tenant in common with the other owners in the apartment. recreational facilities and all of the land.
The strata owner automatically acquires a proportionate FEE SIMPLE interest in the common property as a tenant in common with the other owners in the apartment. recreational facilities and all of the land.
**A ______ _______ _______ is a strata plan on which the boundaries of the lots are defined by survey markers and not by reference to walls.
It is a division of land rather than of a building or buildings as would be the case in a condominium.**
ANSWER: Bare land strata
Used for developments combining both commercial and residential space within the same building
ANSWER: Air Space Stratas
________ ___________ strata developments share two or more different kinds of uses
ANSWER: Mixed use strata developments share two or more different kinds of uses
**TRUE OR FALSE?
The Principal of Indefeasability means that a person dealing in good faith with the registered property owner is not required to investigate how the owner got his/her title?**
ANSWER: TRUE
**FILL IN THE BLANK
Registration in the Land Title Office is important because . . .**
ANSWER: It is required to establish an indefeasible title
While registration is not mandatory failure to register an interest means _ _ _ _ _ _ _
**ANSWER:
That the estate or interest claimed by an owner cannot be enforced against a third party.**
Abolition of Notice means _ _ _ _
ANSWER:
It is not necessary, in British Columbia, to make an exhaustive inquiry into the validity of a title or an interest.
“Crown land” is defined as _ _ _ _ _ _ _ _
ANSWER: “Crown land” is defined as any land or interest in land, whether covered by water or not, that is vested in the government.
The first principal of strata developments is “a strata is a strata is a strata”. This means . . . .
ANSWER: strata legislation applies to every type of strata development. The same legislation that governs a 500 unit apartment-style strata complex applies equally to a 100 unit industrial warehouse strata project, to a 20 unit bare land strata development, and to a two unit strata, sometimes called a duplex.
What is The Second Principle of Strata Developments?
**ANSWER: “The Strata Scheme is Self-Enforcing”
There are no “strata police” who regulate compliance with the strata legislation. Every strata development is self-enforcing.**
TRUE OR FALSE? An unregistered transfer in land is operative between the transferor and the transferee.
ANSWER: TRUE
TRUE OR FALSE? All registered charges are indefeasible.
ANSWER: FALSE
