Ontario Real Estate Licensing Exam Practice · Question
Which of the following is a common encumbrance that would be registered on title and affect a property owner's rights in Ontario?
A mortgage is a prime example of an encumbrance registered on title, giving the lender a security interest in the property. It directly affects the owner's righ
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Question: Which of the following is a common encumbrance that would be registered on title and affect a property owner's rights in Ontario?
Answer options:
- A neighbour's fence that is slightly over the property line
- An unpaid utility bill for the previous month ✅ A mortgage held by a bank against the property
- A municipal parking ticket issued to a guest
Correct answer: A mortgage held by a bank against the property
Explanation: A mortgage is a prime example of an encumbrance registered on title, giving the lender a security interest in the property. It directly affects the owner's rights as the property can be foreclosed upon if loan terms are not met.
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- A buyer is considering a mortgage product that allows them to prepay a portion of their principal at any time
- A commercial property in Toronto is sold for $2,000,000. The vendor is an HST registrant. What is the buyer's
- What is the primary purpose of registering a deed under the Registry Act in Ontario?
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