Humber Real Estate - Course 2, Module 3, Understanding Residential Property Types, Ownership and Planning exam 2024

A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. - correct answer Define a 'Dwelling Unit' - A duplex is under single ownership (under 1 title) ... the dwelling units can then be lived in or rented out - The 2 dwelling units in a semi-detached structure are each owned separately (under 2 titles) - correct answer What is the difference between a semi-detached structure and a vertically divided duplex? The interest or rights associated with real property. - correct answer Define 'An Estate In Land' - Freehold ownership - Freehold estate - correct answer Holding a fee simple interest in a property can also be referred to as what? The rights (aka Bundle of Rights) include the right to: - Sell - Lease - Use - Do nothing - Give away - Enter the property *Use the acronym SLUDGE to remember these rights - correct answer What rights are included under fee simple ownership? An implied easement exists under the Road Access Act permitting the owner to cross over someone else's property to achieve access. - correct answer What happens if a property fronts onto a public road and the propert