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Exam (elaborations)

Humber Real Estate - Course 1, Module 3 questions and answers

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Humber Real Estate - Course 1, Module 3

Institution
Real Estate Humber
Course
Real estate humber










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Institution
Real estate humber
Course
Real estate humber

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Uploaded on
January 30, 2025
Number of pages
19
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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How, under 'Adverse Possession', can an occupier of land extinguish the title of the
owner and claim legal ownership of that land?


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Possession must be:
- Visible
- Exclusive
- Continuous for a period without the consent of the owner but with the

, owner's knowledge for a minimum of 10 years
Note: No title claims by adverse possession can occur under the land titles,
which is a system of land registration in Ontario




What is the 'Right to regulate'?


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The right of the government to regulate property for the promotion of public
safety, health, morals and general welfare. It's also referred to as police
power. Zoning bylaws, building codes, traffic and sanitary regulations are also
based on this right to regulate.




What is a 'Life Lease?'


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Not ownership of a property but an "interest" in that property in exchange for
a lump sum payment up-front. Also required are monthly maintenance fees
(snow removal, landscaping, etc.) Included is the right to live in a unit rather
than own it. This type of lease typically lasts until the end of the lease holder's
life, or until they move.




Does an easement transfer when the land is sold?


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, Yes.




What are the ways an easement can be created?


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- Express grant
- Prescription
- Implication
- Statute




What is an 'Easement'?


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A right enjoyed by one landowner over the land of another for a special
purpose (not a general use). It doesn't grant ownership to any part of the
land, only a right to use for that special purpose.




What is the primary purpose for a non-profit co-operative?


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