BC Real Estate Trading Services Course Land Title and Registration in BC 2

Question 1

What is the key legal difference between joint tenancy and tenancy in common in BC?

Accepted Answer

Joint tenancy includes the right of survivorship; tenancy in common does not

Answer

Joint tenants may sell their share independently; tenants in common may not

Answer

Tenancy in common requires equal ownership shares; joint tenancy allows unequal shares

Answer

Joint tenancy applies only to commercial properties under BC law

Question 2

In BC, what does an easement registered on a property's title allow the easement holder to do?

Accepted Answer

Use a defined portion of the land for a specific stated purpose

Answer

Purchase the property at a predetermined price in the future

Answer

Restrict all development on the burdened property indefinitely

Answer

Claim ownership of the property after a period of continuous use

Question 3

Under the Land Title Act BC, the term 'charge' broadly refers to:

Accepted Answer

Any registered interest in land other than freehold ownership, such as a mortgage or easement

Answer

The fee paid to the LTSA for registering any document

Answer

A legal notice that a property is under criminal investigation

Answer

A penalty imposed on an owner who fails to register a transfer within the required time

Question 4

When two charges are registered against the same BC property, how is priority between them generally determined?

Accepted Answer

Priority is generally determined by the order in which the charges were registered

Answer

Priority is determined by the dollar value of each charge

Answer

Mortgages always take priority over all other registered charges regardless of registration order

Answer

Priority is assigned by the LTSA based on the nature of the charge

Question 5

How does BC law treat adverse possession (squatter's rights) for land registered under the Torrens system?

Accepted Answer

It has been abolished in BC for Torrens-registered land, protecting the registered owner's title

Answer

It is fully recognized and allows a squatter to claim title after 10 years of open occupation

Answer

It applies only to rural or agricultural properties in BC after 20 years

Answer

It requires a court order after 15 years of continuous possession

Question 6

What does a title search at the LTSA primarily involve in a BC real estate transaction?

Accepted Answer

Reviewing registered documents to determine ownership, charges, and encumbrances affecting the property

Answer

Physically inspecting the property and all improvements for defects

Answer

Checking with the municipality about outstanding building permits and bylaws

Answer

Obtaining a current appraisal of the property's market value

Question 7

British Columbia's Property Transfer Tax (PTT) is primarily intended to:

Accepted Answer

Raise provincial government revenue on the transfer of real property

Answer

Fund specific municipal improvements to the property being transferred

Answer

Ensure all properties are assessed at fair market value for tax purposes

Answer

Compensate the LTSA for the cost of registering the transfer documents