Question 1

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.

Accepted Answer

Real property law, which deals with land and things attached to the land, is primarily governed by common law. This system is based on court decisions and customs that historically focus on protecting property rights, including determining ownership and the rights associated with a piece of land.

Question 2

Joint tenancy,which is typically the form of ownership in land used for property acquired by spouses as their marital home,is distinguished by the right of survivorship.

Accepted Answer

In a joint tenancy, the right of survivorship means that upon the death of one joint tenant, their interest in the property automatically passes to the surviving joint tenant(s), which is a common arrangement for marital homes to ensure the property seamlessly transfers to the surviving spouse.

Question 3

A tenant cannot withhold rent,even if the landlord fails to meet a requirement in the lease and must instead sue for compensation while continuing to pay rent.

Accepted Answer

A tenant cannot withhold rent, even if the landlord fails to meet a requirement in the lease, and must instead sue for compensation while continuing to pay rent. This is because the obligation to pay rent is independent of the landlord's performance of their obligations under the lease.

Question 4

Commercial leases are highly regulated by provincial legislation.

Accepted Answer

Commercial leases are generally subject to less regulation than residential leases, allowing more flexibility in the terms agreed upon by the landlord and tenant.

Question 5

The mortgagor is the party who lends the money,and the mortgagee is the party who borrows the money and signs the mortgage promising to repay the loan.

Accepted Answer

The mortgagor is the party who borrows the money and signs the mortgage, while the mortgagee is the party who lends the money.

Question 6

Mineral rights-such as rights to oil,gas,or coal and other minerals may be owned separately from ownership of the surface.

Accepted Answer

Mineral rights can indeed be owned separately from the surface rights, allowing different parties to own the subsurface rights (to extract minerals) and the surface rights (to use the land above ground) of the same property.

Question 7

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.

Accepted Answer

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

Question 8

One of the factors that distinguishes registration in a land titles system from registration in the registry system is that the sequence of registration is unimportant in a land titles system.

Accepted Answer

The answer of One of the factors that distinguishes registration...

Question 9

The rights of a new purchaser will normally be subject to any previously registered interests against the title.

Accepted Answer

When a new purchaser acquires property, their rights are subject to any interests (like liens, easements, or mortgages) that were previously registered against the property's title, as these interests are generally considered to precede in priority over the rights of the new owner.

Question 10

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.

Accepted Answer

The answer of The rights of the mortgage lender are...

Question 11

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 personally sue individual borrowers and can sue only corporations that have waived their statutory protection.

Accepted Answer

In Alberta, Saskatchewan, and British Columbia, there are statutory protections that prevent lenders from suing individual borrowers for deficiencies after foreclosure, except in certain cases where the borrower is a corporation that has waived these protections.

Question 12

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.

Accepted Answer

In a tenancy in common, each tenant has an individual, undivided ownership interest in the property. This means they can sell, lease, or bequeath their share independently of the other owners.

Question 13

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.

Accepted Answer

Commercial leases often include terms that specify the responsibilities for repairs and maintenance, outline the alterations a tenant can make to the leased space, and detail what happens to those alterations once the lease term ends. This is to ensure both parties have clear expectations and to prevent disputes.

Question 14

The highest and most comprehensive level of ownership of land possible is known as a fee simple.

Accepted Answer

Fee simple ownership grants the owner the greatest control over the land, including the rights to use it, sell it, lease it, enter or leave it, and bequeath it, without any end time, subject to government powers such as taxation, eminent domain, police power, and escheat.

Question 15

A tenancy in common is a form of undivided co ownership distinguished by the right of survivorship.

Accepted Answer

In a tenancy in common, there is no right of survivorship. Instead, each tenant owns a specific share of the property, which can be passed on to heirs.

Question 16

With the exception of Newfoundland and Labrador,Prince Edward Island,and Quebec,all provinces and territories in Canada either use the land titles system or are in the process of converting from a registry system to a land titles system.

Accepted Answer

Most provinces and territories in Canada use the land titles system, which provides a more reliable form of property ownership registration, and those that initially used a registry system have been transitioning to the land titles system, with the exceptions noted being Newfoundland and Labrador, Prince Edward Island, and Quebec.

Question 17

The legal right to drive across someone's land would typically be achieved through a restrictive covenant.

Accepted Answer

The legal right to drive across someone's land is typically achieved through an easement, not a restrictive covenant. An easement grants the holder a non-possessory interest in another's land for a specific use, such as driving across it, while a restrictive covenant limits how a property can be used.

Question 18

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.

Accepted Answer

This process is known as redemption. Before the foreclosure process is finalized, the borrower can reclaim ownership of the property by paying off the full amount of the debt, including any additional costs incurred during the foreclosure process.

Question 19

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.

Accepted Answer

This is because when a high percentage of the capital needed to acquire commercial real estate is borrowed, the lender typically secures the loan with a mortgage on the property. If the borrower defaults on the loan payments, the lender has the right to foreclose on the mortgage, seize the property, and sell it to recover the owed amount, leading to the loss of ownership and possession by the borrower.

Question 20

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.

Accepted Answer

Adjustments are made to the sale price in real estate transactions to account for items like prepaid taxes, utilities, or association fees, ensuring that the buyer and seller only pay for their portion of these costs up to and after the closing date.

Quiz 19: Real Property