Ontario Real Estate Licensing Exam Practice · Question
Under TRESA, Seller Property Information Statement (SPIS) use is:
SPIS remains voluntary in Ontario.
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Question: Under TRESA, Seller Property Information Statement (SPIS) use is:
Answer options:
- Mandatory ✅ Optional / voluntary
- Required for condos only
- Required for new builds
Correct answer: Optional / voluntary
Explanation: SPIS remains voluntary in Ontario.
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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?
- What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
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