Exam 8: Property

About 10 years into their marriage,Eric and Bev had saved enough money to buy an investment property.First they bought a duplex,which they held as joint tenants,and later they bought a building lot in Surrey,which they held as tenants in common.Eric's will provided that his interest in the duplex would go to their daughter,Lisa,and that his interest in the Surrey lot would go to their son,Max.Indicate the statement that accurately describes who will take what upon Eric's death.

Which one of the following indicates what is meant by riparian rights?

When a person acquires temporary possession of a chattel by arrangement with the owner,it is known as which of the following?

Who is responsible for the repair of the premises in a normal rental agreement?

Jane asked her friend Harry to look after her very valuable Stradivarius violin while she was away on vacation.Which one of the following statements is correct with respect to the legal relationship created?

Explain what is meant by an insurable interest and how the existence of this principle affects the right to collect on an insurance claim.

Consider the various remedies that are available to the mortgagee in the event of a default,and discuss the effectiveness of each.

What is meant by a reversionary interest in a life estate?

Discuss the principle of the equity of redemption as developed by the Court of Chancery,and indicate its importance in the field of mortgage law today.

The power to foreclose creates risk for the second mortgagee.

Explain what right is conveyed by an easement.

Joe verbally agreed with his landlord to a two-year lease for an office,and then only five months later,the property was sold to somebody else.The new owners immediately gave Joe three months to vacate the premises.Explain his legal rights under these circumstances.

With regard to real property law,which one of the following is true?

Some businesses may be subject to both federal and provincial regulations.

Which of the following is true in relation to insurable interest?

Which levels of government have the power to pass legislation dealing with the environment?

Explain when the notice must be given to vary or terminate a periodic tenancy agreement.

Explain what is used as security in a mortgage transaction.

Explain what is mortgaged in a second mortgage.

When pollution takes place,the law is clear that the polluter will pay for all cleanup obligations.