Exam 19: Real Property

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

Belle Blue works in the land office in Winnipeg as a document examiner.She doesn't look forward to the typically overwhelming workload during the summer months.What is the significance of Belle's role with respect to the type of registry system she is employed in?

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.

Real property is largely governed by common law,which,by tradition,devotes its focus on protecting rights to property and,in particular,determining the rights of ownership to a piece of land.

Tangible personal property that is attached to land,buildings,or other fixtures is commonly known as real estate.

Drew met with Sherry to have a second look at an apartment block his corporation may be interested in purchasing.When Drew returns to the office,if he calls Kent at Stewin Appraisals Ltd.,which of the following will most likely be the result?

With respect to land conservation and environmental protection,why has statute law become an increasingly significant factor?

Briefly discuss the relevance of the sequence of registration in a land registry system and a land titles system.Also identify how the sequence of registration has recently become particularly problematic and the parties affected by those problems.

With respect to the legal concept of real property,which of the following distinguishes land from real estate?

In which of the following circumstances will an original mortgagor,who has allowed its mortgage to be assumed by another,be held free of liability for repayment should the new buyer default under the assumed mortgage?

If a bank has foreclosed on a property located in Alberta,Saskatchewan,or British Columbia and has been left with a deficiency after its sale,the vendor cannot sue personally sue individual borrowers and can sue only corporations that have waived their statutory protection.

Merrilee and Keith own several of acres of vacant land adjoining the property where their greenhouse operations and large garden centre facility are located.The greenhouse side of the business is ready to expand.A senior lending officer of ImaBigBank is meeting with Merrilee and Keith to discuss the expansion plans and the financial needs and circumstances of their business.Should ImaBigBank approve the financing,how will the parties most likely be described on the mortgage?

The document that transfers possession of land from the landlord to the tenant in exchange for the payment of rent is legally described as a tenant lease.

Contrast the administrators of a land registry system and the administrators of a land titles system.

The rights of the mortgage lender are limited to a combination of the following three remedies: suing the borrower,taking possession of the land,and foreclosure.

Identify the most common example of ownership of real property that is divided by time.Briefly discuss how this mechanism operates,including the legal identities of the parties involved.

Briefly discuss joint tenancy.

With respect to real property,what is the commonality shared by "the right to negotiate their own terms" and "enforcement mechanisms"?

Sylvano requested a copy of Certificate of Title No.12312 from the land titles office.He intends to purchase the land for development if it is unencumbered by registrations affecting its use.This particular land titles office maintains an insurance fund to compensate for loss due to their error.What significance does that fact have with respect to the copy of title Sylvano will receive in exchange for payment of the prescribed fee?

A bank took immediate possession of real property for 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.Given these circumstances,which of the following provides a valid description of the most likely legal matters that will come before the courts?