RETS / CHAPTER 4

Question 1

At common law, absent any registration system, title to land or “ownership” of land was proven by _ _ _ _

Answer 1

ANSWER:
At common law, absent any registration system, title to land or “ownership” of land was proven by PRODUCING ALL OF THE RELEVANT DEEDS

Question 2

The third principle of the Torrens System is Abolition of _____

Answer 2

**ANSWER:

abolition of notice.**

Question 3

Explain the defense of Non Est Factum

Answer 3

**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

Question 4

The first principal of strata developments is _ _ _ _

Answer 4

ANSWER: A strata is a strata

Question 5

With the Torrens system property is transferred by _ _ _ _ _ instead of by deeds

Answer 5

ANSWER: registration of title

Question 6

What are the four principals of the Torrens System?

Answer 6

**ANSWER:

Indefeasibility,
The effect of registration,
Abolition of notice,
Assurance principal**

Question 7

In many parts of the province of BC, ___________ _________ ________ ___________ are registered for mobile home parks, recreational developments, and “gated communities.”

Answer 7

**ANSWER:

In many parts of the province of BC, BARE LAND STRATA PLANS are registered for mobile home parks, recreational developments, and “gated communities.”​**

Question 8

Explain indefeasibility

Answer 8

ANSWER:

Cannot be defeated, cannot be made void
Anyone acquiring an interest in land in good faith for consideration is protected

Question 9

List 3 exceptions to indefeasibility

Answer 9

Federal/provincial taxes
Municipal charges/assessments
Leases less than 3 years
Public easements
Expropriation
Fraud

Question 10

**TRUE OR FALSE?

Registered Charges are not indefeasible**

Answer 10

ANSWER: True

Question 11

Only _______ ____________ can transfer an interest in land.

Answer 11

**ANSWER:

Only REGISTERED DOCUMENTS can transfer an interest in land**

Question 12

**TRUE OR FALSE

BC system allows a notation of trust**

Answer 12

ANSWER: True

Question 13

Torrens system is founded on the concept of _________

Answer 13

ANSWER: Torrens system is founded on the concept of indefeasibility

Question 14

Approximately 94% of the land in BC is in the name of __________.

Answer 14

ANSWER: Approximately 94% of the land in BC is in the name of the provincial Crown

Question 15

_________ is the highest estate known to Canadian law and is akin to absolute ownership

Answer 15

ANSWER: Fee simple estate is the highest estate known to Canadian law and is akin to absolute ownership

Question 16

__________ is any part of a strata plan that is not part of a strata lot

Answer 16

ANSWER: Common property is any part of a strata plan that is not part of a strata lot

Question 17

The part of the property that an individual separately owns is called a ____________ while the rest of the property is called ___________.

Answer 17

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.”

Question 18

This sets out each owner’s proportionate interest in the common property.

Answer 18

ANSWER: Schedule of unit entitlement

Question 19

A Strata owner automatically acquires a proportionate fee simple interest in the common property as a _____________ with the other owners in the apartment.

Answer 19

ANSWER: tenant in common

Question 20

Refers to a project where the developer owns a building and wishes to stratify it

Answer 20

ANSWER: Conversions

Question 21

What factors will an approving authority consider when reviewing an application for a conversion?

Answer 21

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

Question 22

When reviewing an application for conversion the approving authority will also consider the impact on local tax revenues.

Answer 22

ANSWER: False

Question 23

When considering an application for conversion, If the building is occupied by residential tenants, then the __________ also applies.

Answer 23

ANSWER: Residential Tenancy Act

Question 24

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.

Answer 24

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.

Question 25

**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 25

ANSWER: Bare land strata

Question 26

Used for developments combining both commercial and residential space within the same building

Answer 26

ANSWER: Air Space Stratas

Question 27

________ ___________ strata developments share two or more different kinds of uses

Answer 27

ANSWER: Mixed use strata developments share two or more different kinds of uses

Question 28

**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 28

ANSWER: TRUE

Question 29

**FILL IN THE BLANK

Registration in the Land Title Office is important because . . .**

Answer 29

ANSWER: It is required to establish an indefeasible title

Question 30

While registration is not mandatory failure to register an interest means _ _ _ _ _ _ _

Answer 30

**ANSWER:

That the estate or interest claimed by an owner cannot be enforced against a third party.**

Question 31

Abolition of Notice means _ _ _ _

Answer 31

ANSWER:

It is not necessary, in British Columbia, to make an exhaustive inquiry into the validity of a title or an interest.

Question 32

“Crown land” is defined as _ _ _ _ _ _ _ _

Answer 32

ANSWER: “Crown land” is defined as any land or interest in land, whether covered by water or not, that is vested in the government.

Question 33

The first principal of strata developments is “a strata is a strata is a strata”. This means . . . .

Answer 33

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.

Question 34

What is The Second Principle of Strata Developments?

Answer 34

**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.**

Question 35

TRUE OR FALSE? An unregistered transfer in land is operative between the transferor and the transferee.

Answer 35

ANSWER: TRUE

Question 36

TRUE OR FALSE? All registered charges are indefeasible.

Answer 36

ANSWER: FALSE