Exam 19: Real Property

What principle has the Supreme Court endorsed when dealing with the broad social issue of how to balance the need to encourage development and commercial activity with the need to control and prohibit dangerous activities?

Often,matters relating to either the supply of water or soil contamination are addressed in an accepted offer for the purchase and sale of real property.Which of the following is most likely to be a valid statement with respect to future legal relevance in instances where such matters are addressed in this manner?

Martina is purchasing a home in Winnipeg.The closing date is October 1.Each year's real property taxes are payable in June for taxes owed up to December 31.The amount of the taxes paid by the vendor for the entire year is $2400.In the circumstances of this transaction,which of the following is a valid statement with respect to an adjustment on taxes?

Briefly discuss joint tenancy.

What is the major consequence of the creation of a lease?

It is typical that a commercial lease will address such important matters as the responsibility for repairs and maintenance to the leased space and any common areas,as well as permitted alterations a tenant may make to the space and what happens with the alterations once the lease expires.

What are the circumstances that would allow a party to disregard the particular type of registry system used to register documents securing a loan against a title?

An equity redemption is a credit arrangement where a title to land is security for the loan.

Real estate includes buildings as well as anything attached to buildings such as light fixtures.

What is the legal effect of a financing condition in an offer?

A mortgage covering the loan arranged by Kryhalla Spa Inc.has been forwarded to the land titles system.What is the most likely result once the document has been registered?

Sarafal was disappointed to learn that she would be unable to plant a hedge along the front borders of her property.She didn't object to having mountain ash trees planted along the street,but the absence of any possibility of a hedge affected her purchasing decision.In this instance,what is the ability to place conditions on ownership most strongly influenced by?

Although a landlord's basic obligation is to refrain from interfering with the tenant's use of property,where a tenant has willfully damaged that property,the landlord may exercise a right of distress to evict the tenant and preserve the value in the property.

A bank took immediate possession of real property for the non-payment of a mortgage installment on its due date.It is taking steps to have the property sold.The bank is aware that,due to poor market conditions,the amount of the mortgage is higher than the value of the property.What are the most likely legal matters that will come before the courts?

What is the term for the system of land registration that guarantees title to land?

What is the main factor in deciding whether a lease has been created?

Andrea manages several strip malls for a mid-sized real estate holding company.One tenant appears to have abandoned the offices he had leased,leaving a lot of possessions of value behind.Andrea has taken all of the necessary steps to sell the property and apply the proceeds to the tenant's rent arrears.What is the legal description of the remedy Andrea is pursuing?

At any point before the foreclosure process is complete,ownership of the land can be regained if the borrower is able to repay the loan.

Meagan has been asked to search the chain of title to a cottage property located on the Lake of the Woods in Northwestern Ontario.What was the most likely result of the investigation if the deal proceeds after Meagan completes the search?

Before Anya can draft the letter to the purchaser's lawyer stating the balance due on closing,she must adjust the sale price to take into consideration such things as prepaid annual municipal property taxes.