HUMBER REAL ESTATE LATEST ACTUAL 2026/2027
QUESTIONS AND ANSWERS RATED A+
✔✔cottages without basements can be subject to... - ✔✔drainage issues
✔✔cottages with retaining walls must have... - ✔✔adequate drainage
✔✔what would cause structural movement in cottages (or buildings in general)? -
✔✔inadequate footings or piers used during construction
✔✔where can a building permit be obtained? - ✔✔municipality or the Ministry of
Municipal Affairs and Housing
✔✔in a transaction dealing with a multi-family building, what can be done to verify rents
are lawful? - ✔✔include a seller's warranty clause regarding rents in schedule A
✔✔what is IVR used for? - ✔✔direct capitalization formula for estimating value
value = net operating income / cap. rate
✔✔max Tarion coverage for a condo unit in a conversion project - ✔✔$20,000
✔✔level number - ✔✔used in legal description
✔✔floor number - ✔✔used in unit address
✔✔a new home can be exempt from Tarion if... - ✔✔more than 40% of the original
foundation is used
✔✔T or F?
a lease can verbal or in writing - ✔✔true
✔✔demising - ✔✔transfer of property from landlord to tenant for a term
✔✔reversion - ✔✔transfer of property from tenant back to the landlord at the end of the
lease term
✔✔the first board of a condo corp. holds office until - ✔✔the turnover meeting
✔✔leasehold condo - ✔✔on land that is leased by the developer not owned
✔✔can building inspectors issue a stop work order?` - ✔✔yes if necessary
QUESTIONS AND ANSWERS RATED A+
✔✔cottages without basements can be subject to... - ✔✔drainage issues
✔✔cottages with retaining walls must have... - ✔✔adequate drainage
✔✔what would cause structural movement in cottages (or buildings in general)? -
✔✔inadequate footings or piers used during construction
✔✔where can a building permit be obtained? - ✔✔municipality or the Ministry of
Municipal Affairs and Housing
✔✔in a transaction dealing with a multi-family building, what can be done to verify rents
are lawful? - ✔✔include a seller's warranty clause regarding rents in schedule A
✔✔what is IVR used for? - ✔✔direct capitalization formula for estimating value
value = net operating income / cap. rate
✔✔max Tarion coverage for a condo unit in a conversion project - ✔✔$20,000
✔✔level number - ✔✔used in legal description
✔✔floor number - ✔✔used in unit address
✔✔a new home can be exempt from Tarion if... - ✔✔more than 40% of the original
foundation is used
✔✔T or F?
a lease can verbal or in writing - ✔✔true
✔✔demising - ✔✔transfer of property from landlord to tenant for a term
✔✔reversion - ✔✔transfer of property from tenant back to the landlord at the end of the
lease term
✔✔the first board of a condo corp. holds office until - ✔✔the turnover meeting
✔✔leasehold condo - ✔✔on land that is leased by the developer not owned
✔✔can building inspectors issue a stop work order?` - ✔✔yes if necessary
