Real Estate Course 1: 3 To 5

Consumer Protection Act

Can cancel 10 days after receiving a written copy for any reason.

Can cancel within 1 year if no written copy received.

Joint Tenancy for Survivorship.

Tenancy in Common for Estate

Joint at the hip, same timing, amount, and document

It falls under the Residential Tenancy Act and need to sign said agreement.

Landlord must give tenant a copy of a written lease within 21 days of signing it.

Must provide new tenants with information about rights and responsibilities.

EPIS

Express Grant: Owner decides

Prescription: (similar to adverse protection) access has been continuous, exclusive, and open for many years without the consent of the owner but with the owner’s knowledge

Implication: Easements are created to avoid detrimental effects or inconvenience to an adjoining property owner.

Statute: Public Lands Act

MRC

Merge An easement is extinguished if the ownership of both dominant and servienttenements merge.

Release The dominant tenement may release the servient tenement by removing theeasement from the title.

Ceasing of purpose If the purpose of the easement disappears, so does the easement.

Takes possession of the property, without the consent of the owner.

Claimant’s possession must be visible, exclusive, and continuous for a period without the consent of the owner but with the owner’s knowledge.

In Ontario, the time requirement minimum of 10 years.

No title claims by adverse possession can occur under the land title

A limitation on a property owner

Scope of Rights associated with fee simple ownership

1) Surveyor’s Real Property Report

2) Reference Plan

3) Plan of Survey

4) Plan of Subdivision

Describes more than one interest in land

It can be found in the land registry office.

R-plans are normally required for normal editting:

1. Severance of an existing parcel of land

2. First application (first registration) under the Land Titles Act

3. When the land registrar determines that the title is too vague or complex, an R planwould be requested for clarity

a. “Teraview” is operated by Teranet, POLARIS land registration system. Primarily legal profession, municipal officials to perform selected search activities through online connections to land registry offices.

i. Title index database This database replaces the abstract indexes and parcel registers found in the traditional paper-based land registry office. The database is automatically updated as new documents are registered.

ii. Property index database This database provides visual indexing maps to locate properties. Updates occur following document registration when mapping amendments are made relating to property boundaries.

iii. Image Database This database includes plans as well as images of all active instruments in the title index database. E-registration documents are updated shortly after registration. Paper-based documents are collected on microfilm and then transferred to the image database.

As a salesperson, you will more likely use GeoWarehouse, a web-based property information source that also pulls data from POLARIS. Salespersons can use GeoWarehouse to access sales and demographic information about properties and neighbourhoods, “exterior, aerial and bird’s eye view images” of properties, and any other information about a property including anything registered against it

“OnLand”, a web portal to deliver key statutory services relating to land and property ownership in Ontario to land registry professionals and the public.

Form1: Transfer/Deed of Land This form is used to convey title or an interest in property and includes the full names of both sellers (transferors) and buyers (transferees) along with birthdates.

Form2: Charge/Mortgage of Land

Form3: Discharge of Charge/Mortgage of Land

Form4: Document General

is essentially a blank form meeting prescribed standards that is used to register any documents NOT 1 2 and 3

Form 5: Schedule

is used as an attachment with other paper-based or electronic forms.

Counties, townships, concessions

200, 100, 1000 acres

Double is 2 fronts instead of 1

2 or 3 lots

vs

Many Lots

No one else is needed, only the broker of record.

Parcel of tied land.

The right to create and enforce a Provincial building code

Monumentation

Reference Plan

Under the Land Titles Act, the Land Titles Assurance Fund is a fund established to compensate people for certain financial losses they incur due to real estate fraud or omissions and errors of the land registration system.

1. Plan of Survey

The municipal address and information regarding the land titles or registry office designations

• The dimensions and bearings of all property boundaries as determined by a field survey

• The designation of adjacent properties, roads, lands, etc.

• The location and description of all notable improvements on the property, along with the setbacks, orminimum distance requirements, to the property boundaries. The projection of overhangs and eaves are alsonoted, as well as fences, driveways, walkways, swimming pools, trees, etc.

• The location of any easements or rights-of-way

• The location and dimensions of any visible encroachments onto or off the property (hydro lines, telephone,etc.)

• The location of survey monuments found and placed

• A note indicating for whom the plan is prepared

• Certification by an Ontario land surveyor

2. Written Report

Normally describes more than one interest in land. Deposited in Land Registry Office

R-plans are normally required for:

• Severance of an existing parcel of land –

a formalconsent for land severance is required

• First application (first registration) under the Land Titles Act

• When the land registrar determines that the title is too vague or complex, an R plan would be requested forclarity

Serious complaint regarding financial damage.

The person for whom the deposit is made, the brokerage must disclose the interest rate.

True

10k or more within a 24 hour period.

is a federal statute

Bid-rigging

Conspiracies

Misleading advertising

Price maintenance involves a person attempting to influence prices either in an upwarddirection or by discouraging individuals who are offering lower prices. provisions also extend to situations where a salesperson refuses tonegotiate with, or otherwise deal with, a competitor because of that competitor’spricing policy, commission structure, or business model.

A plan of survey is a visual depiction of the property

not contain a written report and lacks certain certificates required by the Registry Act or Land Titles Act that would appear on a Surveyor’s Real Property Report.

As a result, it could not be registered at the land registration office.

This type of survey would be useful to ahomeowner to establish property boundaries and perhaps use it for such things as securing a building permit.

No, only the buyer's offer is conditional.

Plan of Survey

No, it will appear on title

Latest Energy Eff Designs

Built to building code standards.

True

Sales 70

Brokerage 30

Sales is always first