Key terms for Exam 1

Coverage that repays money held in trust when it is lost to a registrant's dishonesty or insolvency.

1Module 1 · Lesson 2

Duty to pass each written bid and related written document to the seller promptly, unless lawfully directed otherwise.

5Module 5 · Lesson 3

Seller's reply that proposes changed terms back to the buyer instead of accepting.

1Module 1 · Lesson 4

Current certificate holds all title information, so a buyer need not investigate past dealings.

4Module 4 · Lesson 2

Event from which the one-, two- and seven-year coverage periods run for a house or condo unit.

7Module 7 · Lesson 6

Owner of the land, freehold or leasehold, who brings it under the condominium statute by registration.

6Module 6 · Lesson 12

Registered condominium constitution that includes the owners' proportionate shares and consent of mortgagees.

6Module 6 · Lesson 12

Registry-system document that records ownership passing from one person to another.

2Module 2 · Lesson 1

Brokerage names specific registrants to act for the client; all others must stay objective and impartial.

2Module 2 · Lesson 1

Joint registration by both spouses naming one residence as their matrimonial home, freeing the others from protection.

6Module 6 · Lesson 6

Fixed monthly amount a salesperson pays the brokerage whether or not any earnings arrive.

1Module 1 · Lesson 5

Bundle of registration documents prepared by one lawyer and forwarded by secure message to another user.

4Module 4 · Lesson 2

Blank-style standard form used, for example, to register notices of liens on a property.

4Module 4 · Lesson 2

Land or interest that gains the benefit of an easement exercised over another parcel.

3Module 3 · Lesson 2

Right of one landowner over another's land for a special purpose, binding later owners, without ownership.

3Module 3 · Lesson 2

Provincially mandated body that oversees wiring and power installations and keeps their code up to date.

7Module 7 · Lesson 8

Ontario statute letting paper-based legal requirements, including signatures, be satisfied electronically.

6Module 6 · Lesson 4

Violation of a neighbour's property rights by building a shed, fence or garage partly on their land.

3Module 3 · Lesson 2

Official Government of Canada mark for rating and labelling houses, vehicles and some products by energy efficiency.

7Module 7 · Lesson 5

Identifier a buyer's salesperson requests; a condo has one per unit plus one for shared areas.

7Module 7 · Lesson 6

Report possibly required before development, showing whether construction would harm vegetation, animals or species at risk.

7Module 7 · Lesson 3

Main Ontario environmental statute affecting owners and users of real property, aimed at preventing pollution and protecting health.

7Module 7 · Lesson 3

Permission given by opting in through a sign-up form, phone call, purchase or contest entry.

7Module 7 · Lesson 1

Government taking of private land for public use, with fair payment to the owner.

3Module 3 · Lesson 2