PRRE - Unit 4: Legal Matters & Concerns

Question 1

3 Main types of property defects

Answer 1

1) Patent
2) Latent
3) Material Latent

Question 2

A ___________ defect refers to an obvious flaw discovered upon reasonable inspection of the property.

Answer 2

Patent

Question 3

A true ________ defect is one that is not known to either the seller or buyer at the time of sale, and as a result, was not disclosed.

Answer 3

Latent

Question 4

A _________ defect is a defect not visible upon ordinary inspection that materially affects the use or value of the property.

Answer 4

Material Latent

Question 5

A __________ misrepresentation is a false or misleading statement made by a person, who believed it to be true, where the person carrying out the misrepresentation took reasonable steps to assure the accuracy of the statement

Answer 5

Negligent

Question 6

A ________ misrepresentation is a false or misleading statement made by a person who had not intended to mislead anyone by failed to take reasonable steps to confirm the statement’s truthfulness or accuracy.

Answer 6

Reckless

Question 7

_________ misrepresentation is a false or misleading statement made by a person who knew that the statement was untruthful

Answer 7

Intentional

Question 8

____________ are the portions of the flood hazard area most likely to flood and typically include the main channel of the water way and part of the adjacent bank.

Answer 8

Floodways

Question 9

___________ are areas near waterways where floodwaters are expected to be shallower and flow more slowly.

Answer 9

Flood fringes

Question 10

________________ is a temporary program that provides financial assistance to eligible individuals and organizations for uninsurable property damage, loss, and other expenses as the result of a widespread, extraordinary event.

Answer 10

Disaster Recovery Program

Question 11

Can Disaster Recovery Program notices be found on the Title?

Answer 11

Yes

Question 12

The _____________ provides the legislative basis for determining how properties in Alberta are used

Answer 12

Municipal Government Act

Question 13

_____________ regulate and control the use and development of the land and buildings within the applicable municipal boundaries.

Answer 13

Municipal Bylaws (land use = zoning)

Question 14

4 Types of Land Use Classifications

Answer 14

1) Residential
2) Commercial
3) Industrial
4) Special Use (ag and parks)

Question 15

____________ entitle a property owner to a permit if the development conforms to the applicable sections of the Land Use Bylaw.

Answer 15

Permitted Uses

Question 16

The Land Use Bylaw deems ________________ to be generally appropriate for the applicable land use district, but they are not necessarily compatible with the surrounding uses.

Answer 16

Discretionary Uses

Question 17

3 Types of Secondary Suites

Answer 17

1) Legal
2) Illegal
3) Non-conforming

Question 18

________ secondary suites do not meet the current Land Use Bylaw requirements and/or was built without the property permits being issued by the municipality.

Answer 18

Illegal

Question 19

__________ secondary suites do not conform to the current Land Use Bylaw requirements or the current Alberta Building Code, Alberta Fire Code, and building permit requirements. However, these secondary suites did conform to the Land Use Bylaw, Building and Fire Codes, and building permits requirements at the time they were developed.

Answer 19

Non-conforming

Question 20

The height of a secondary suite cannot be less than _______m

Answer 20

1.85 m

Question 21

5 Residential Land Use Changes

Answer 21

1) Subdivision
2) Intensification
3) Assemblage
4) Densification
5) Reclassification

Question 22

___________ involves the division of a larger lot into two or more smaller lots

Answer 22

Subdivision

Question 23

This involves the development of a residential property or site to a higher rate of occupancy than currently exists

Answer 23

Intensification

Question 24

_________ involves the purchase of contiguous lots by the same buyer or buyers with the intent to create a single larger site with enhanced development potential.

Answer 24

Assemblage

Question 25

_________ refers to the increased concentration or residents and jobs over a particular land area.

Answer 25

Densification

Question 26

________ involves a change in land use for a particular parcel of land relative to its land use classification and land use district.

Answer 26

Reclassification

Question 27

___________ refers to the land, the real estate, and the property rights and limitations

Answer 27

Real Property

Question 28

3 Types of Real Estate

Answer 28

1) Fee Simple 2) Leasehold 3) Life Estate

Question 29

With ____________, only one name appears on title as the registered owner of the property

Answer 29

Sole Ownership

Question 30

_____________ involves two or more owners, with each owner having the right of survivorship regarding the property

Answer 30

Joint Tenancy

Question 31

__________ involves two or more owners, each can have unequal shares in the property and there is no right of survivorship.

Answer 31

Tenancy-In-Common

Question 32

Torrens System 3 Key Principles (for Titles)

Answer 32

1) Mirror Principle 2) Curtain Principle 3) Insurance Principle

Question 33

On the title, an __________ is a right acquired by one party to use another party’s land, allowing for its shared or common use typically for a specific purpose

Answer 33

Easement

Question 34

A __________ is a charge on land for security of a debt or loan

Answer 34

Mortgage

Question 35

A ________ is a notice or warning that someone is claiming an interest in the land.

Answer 35

Caveat

Question 36

On a title, an _____________ is the result of an item being placed, erected, or built on an adjoining property

Answer 36

Encroachment

Question 37

A ____________ is a limitation on the use or details of a property

Answer 37

Restrictive Covenant

Question 38

________ are financial claims permitted by statute on real property for the payment of a debt

Answer 38

Liens

Question 39

A _____________ registered against the property title provides notice that litigation is in progress regarding that land

Answer 39

Certificate of Lis Pendens

Question 40

Leases of more than ___ years must be registered on the title

Answer 40

3 years

Question 41

A ______________ is a written directive from the court issued against a property title.

Answer 41

Writ of Enforcement

Question 42

Priority of registered interests on title are...

Answer 42

1) Property Taxes 2) Condo Fees 3) Mortgage

Question 43

1/3 things needed to search SPIN2 for a title

Answer 43

1) LINC number 2) Legal land description 3) Title Number

Question 44

____________ reflects the status of the property as of the date it was prepared, however, no longer reflects the improvements made to the property since that date.

Answer 44

Existing RPR

Question 45

____________ is a document used to register instruments (e.g. encumbrances, financial obligations, pending litigation) for or against the Condominium Plan and Condominium Corporation, with Land Titles.

Answer 45

Condo Additional Document Sheet

Question 46

A contract is _______ when all of the essential elements of a contract are present. It is legally binding and enforceable by the courts

Answer 46

Valid

Question 47

A contract is _______, and unenforceable when one or more of the essential elements of a contract are not present.

Answer 47

Void

Question 48

A contract may be _________, dependant on the result of a legal challenge, when one party challenges the contract regarding a lack of one or more of the essential elements.

Answer 48

Voidable

Question 49

__________ contracts are those that either contravene the law(s) of that jurisdiction or are made for illegal purposes

Answer 49

Illegal

Question 50

Essential Elements of a Contract (6)

Answer 50

1) Legal Capacity 2) Lawful / Legal 3) Intent to Enter 4) Consideration of Promises 5) Mutual Agreement 6) All facts and use free will

Question 51

Capacity of the Parties in a contract include (4)

Answer 51

1) Age 2) Intoxication / Impairment 3) Competence 4) Language

Question 52

5 Methods for discharging a contract

Answer 52

1) Performance 2) Mutual Agreement 3) Frustration (impossible / unexpected) 4) Operation of Law (e.g. bankruptcy) 5) Breach

Question 53

If the contract has been discharged by breach, and the injured party has done part but not all of what was promised under the terms of the contract, the injured party is entitled to the reasonable value of what thy have already done for the party who committed the breach

Answer 53

Quantum Meruit

Question 54

Under certain circumstances and where damages are inadequate, the party guilty of the breach can be compelled by the court to carry out their promise.

Answer 54

Specific Performance

Question 55

Where the contractual promise was to refrain from doing something, the court may award ________ to restrain the offending party from doing that act

Answer 55

An Injunction