Exam 19: Real Property

Now that approval of the zoning variance has been confirmed by the seller's lawyer, William's company is completing its purchase of a vacant piece of land for commercial development. What is the valid reason for William's company making the possibility of the completion of this transaction subject to this requirement?

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?

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?

Tenants in common each have an undivided interest in the land and are able to deal with their own interests in any way they see fit without having to consult with one another.

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. How will the parties most likely be described on the mortgage if ImaBigBank approves the financing?

Which of the following is "tenant" synonymous with in the realm of real property law?

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?

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

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?

The risk associated with borrowing a high percentage of the capital needed to acquire commercial real estate is that, if there is default in payment due under the loan at any time and the company is unable to negotiate more favourable terms with the lender, the ownership and possession of the property can be completely lost.