Ontario Real Estate Licensing Exam Practice · Question
Which of the following is commonly considered a 'first charge' on a property title in Ontario?
The primary mortgage, also known as the first mortgage, is a 'first charge' on the property title. This means it has priority over other financial claims, such
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Question: Which of the following is commonly considered a 'first charge' on a property title in Ontario?
Answer options:
- A property lien from an unpaid contractor ✅ The primary mortgage registered against the property
- A home equity line of credit (HELOC)
- An easement for utility access
Correct answer: The primary mortgage registered against the property
Explanation: The primary mortgage, also known as the first mortgage, is a 'first charge' on the property title. This means it has priority over other financial claims, such as second mortgages or most liens, in the event of default or sale.
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