Kristina Torry
Quiz by , created more than 1 year ago

Quiz on Conveyancing Theory Test 1 and 3, created by Kristina Torry on 15/02/2016.

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Kristina Torry
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Conveyancing Theory Test 1 and 3

Conveyancing Theory Test 1 and 3

Question 1 of 46

3

Real Property does not include...

Select one of the following:

  • Land and anything attached to it

  • Fences

  • Airspace

  • Chattels

Explanation

Question 2 of 46

3

Real Property includes intangibles like airspace, time, and land use

Select one of the following:

  • True
  • False

Explanation

Question 3 of 46

3

Examples of intangibles are plants and trees, fences, and chattels

Select one of the following:

  • True
  • False

Explanation

Question 4 of 46

3

Which is not a tangible with regards to Real Property

Select one of the following:

  • Land

  • Plants and Trees

  • Fences

  • Land use

Explanation

Question 5 of 46

3

Fill the blank spaces to complete the text.

Fee Simple/Freehold is what we ordinarily think of as of

Explanation

Question 6 of 46

3

A Fee Simple Owner has more rights than any other owner

Select one of the following:

  • True
  • False

Explanation

Question 7 of 46

3

Tenants in Common have the right of survivor

Select one of the following:

  • True
  • False

Explanation

Question 8 of 46

3

Joint ownership means that the land is jointly owned by two people

Select one of the following:

  • True
  • False

Explanation

Question 9 of 46

3

Group Ownership is when one owns a portion of the land

Select one of the following:

  • True
  • False

Explanation

Question 10 of 46

3

Fill the blank spaces to complete the text.

In BC the Land Registration System is based on the System

Explanation

Question 11 of 46

3

Fill the blank space to complete the text.

The Modified Torrens System provides security by .

Explanation

Question 12 of 46

3

Fill the blank spaces to complete the text.

Torrens System invented by Torrens

Explanation

Question 13 of 46

3

Fill the blank spaces to complete the text.

"Indefeasibility" means that something cannot be or made

Explanation

Question 14 of 46

3

Fill the blank spaces to complete the text.

The Contract of purchase and sale is the source of ; it is the document by which the makes an to buy , it outlines the and , and is once both parties to all

Explanation

Question 15 of 46

3

Fill the blank spaces to complete the text.

Completion date: all to title must be , paid, documents in the LTO. If it does not take place, party may the agreement

Explanation

Question 16 of 46

3

Fill the blank space to complete the text.

is the day the purchaser assumes responsibility for all obligations

Explanation

Question 17 of 46

3

Fill the blank space to complete the text.

is when the purchaser is given possession of property

Explanation

Question 18 of 46

3

Fill the blank space to complete the text.

: an event that must occur before there is a binding contract

Explanation

Question 19 of 46

3

Fill the blank space to complete the text.

Once condition precedent of a subject clause is satisfied, all parties sign an to the contract

Explanation

Question 20 of 46

3

Select from the dropdown list to complete the text.

Who owns property
Correct legal description
charges against property
= ( First Search, Pre-registration search, Post-registration search )

Explanation

Question 21 of 46

3

Select from the dropdown list to complete the text.

immediately before completion date
ensures nothing has changed immediately before completion date
= ( Pre-registration date, post-registration date, First search )

Explanation

Question 22 of 46

3

Select from the dropdown list to complete the text.

After completion data
ensures title appears in correct form
ensures any new changes appear in correct form on title
ensures any old charges to be discharges no longer appear on title
= ( Post-registration search, First search, pre-registration search )

Explanation

Question 23 of 46

3

Fill the blank spaces to complete the text.

a Conflict of interest may arise if the is asked to for

Explanation

Question 24 of 46

3

Fill the blank spaces to complete the text.

List some exceptions to conflict of interest rules:
- makes it
-
-unrepresented party wants removed
-Advises unrepresented party of attaining in writing

Explanation

Question 25 of 46

3

Fill the blank spaces to complete the text.

:
a) The payment of all for clear title
b) The discharge of one or more encumbrances and payment of the balance, if any, in
c) The assumption of one or more existing mortgages or agreements for sale and the payment of the balance, if any, in
d) A mortgage that does not contain any commercial element, given by a mortgagor to any institutional lender to be registered against the mortgagor’s residence

Explanation

Question 26 of 46

3

Fill the blank spaces to complete the text.

If transaction falls into exceptions, the lawyer/notary must:
-obtain both client's
-Advise clients that no is
-if a arises, lawyer must
- and of relevant issues

Explanation

Question 27 of 46

3

Check the charges that MUST be discharged

Select one or more of the following:

  • Mortgage

  • Builders Lien

  • Statutory Building Scheme

  • Restrictive Covenant

  • Easement

  • Right of Way

  • Caveat

  • Certificate of Pending Litigation

  • Judement

Explanation

Question 28 of 46

3

Which charges are normally assumed

Select one or more of the following:

  • Caveat

  • Certificate of Pending Litigation

  • Judgement

  • Mortgage

  • Builders lien

  • Statutory Building Scheme

  • restrictive covenant

  • easement

  • right of way

Explanation

Question 29 of 46

3

Fill the blank spaces to complete the text.

a Mortgage is a against the property to monies on a mortgage . It is usually used to pay the of property.

Explanation

Question 30 of 46

3

Someone working on property has not been paid and they file lien against property to get that money

Select one or more of the following:

  • Builder' lien

  • easement

  • pending litigation

  • caveat

Explanation

Question 31 of 46

3

Fill the blank spaces to complete the text.

Restrictive Covenant: written that the property will not be used for certain (farming). It imposes on of one person's land for of another piece of land (like if there is a creek nearby and the city wants to protect it from contaminated run off?)

Explanation

Question 32 of 46

3

Fill the blank space to complete the text.

: privilege acquired by landowner for benefit of their land. Allows another person to use the property (like access to driveway)

Explanation

Question 33 of 46

3

Fill the blank spaces to complete the text.

Right of Way: gives right to or to or the property

Explanation

Question 34 of 46

3

Fill the blank spaces to complete the text.

Statutory Building Scheme: restricts and on each of several lot s is the building scheme for their mutual

Explanation

Question 35 of 46

3

Fill the blank space to complete the text.

: filed by person intending to make a claim against title

Explanation

Question 36 of 46

3

Fill the blank space to complete the text.

: Court order registered against title, if person lost civil law suit and hasn't paid

Explanation

Question 37 of 46

3

Form A is

Select one of the following:

  • Transfer

  • Mortgage

  • Discharge

  • General Instrument

Explanation

Question 38 of 46

3

Fill the blank spaces to complete the text.

Form A is a required document used to from vendor to purchaser

Explanation

Question 39 of 46

3

Form A is executed by the purchaser

Select one of the following:

  • True
  • False

Explanation

Question 40 of 46

3

Fill the blank space to complete the text.

What must accompany the Form A:

Explanation

Question 41 of 46

3

Form B is

Select one of the following:

  • Transfer

  • Mortgage

  • General Instrument

  • Discharge

Explanation

Question 42 of 46

3

Fill the blank spaces to complete the text.

Assumed Mortgage: purchaser pays and existing mortgage

Explanation

Question 43 of 46

3

Fill the blank spaces to complete the text.

Mortgage back to vendor: purchaser pays and agrees to mortgage on property to owing

Explanation

Question 44 of 46

3

Fill the blank spaces to complete the text.

:
-first mortgage
-principle amount cannot exceed % of value

Explanation

Question 45 of 46

3

Fill the blank spaces to complete the text.

:
-principle amount exceeds % of value
-mandatory for borrowers with with down payment less than %

Explanation

Question 46 of 46

3

Form C

Select one of the following:

  • Mortgage

  • Transfer

  • Discharge

Explanation

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