NCA Property Law 3

Question 1

In Canadian common law provinces, what interest does the mortgagor retain after conveying legal title to the mortgagee as security?

Accepted Answer

The equity of redemption — an equitable right to reclaim the property upon repayment

Answer

A life estate in the mortgaged property

Answer

A leasehold interest for the mortgage term

Answer

An easement of occupation over the property

Question 2

What is the mortgagor's 'equity of redemption' in mortgage law?

Accepted Answer

The mortgagor's equitable right to redeem the property by repaying the debt at any time before foreclosure

Answer

The difference between the property's market value and the outstanding mortgage balance

Answer

A court-ordered reduction in the mortgage interest rate for borrowers in hardship

Answer

The lender's right to pursue the borrower personally for any deficiency after sale

Question 3

What is the legal process of 'foreclosure' in the context of mortgage law?

Accepted Answer

The judicial process by which the mortgagee permanently extinguishes the mortgagor's equity of redemption

Answer

A court order reducing the interest payable on an overdue mortgage

Answer

Automatic transfer of title to the lender upon a single missed payment

Answer

A government assistance program for homeowners in arrears

Question 4

What is an 'easement' in Canadian property law?

Accepted Answer

A non-possessory right to use another person's land for a specific purpose

Answer

Full ownership of a strip of land running between two properties

Answer

A license granting temporary entry onto a neighbour's land revocable at will

Answer

A mortgage over agricultural land granted for farming operations

Question 5

According to the criteria established in Re Ellenborough Park, which of the following is required for an easement to be a valid property right?

Accepted Answer

There must be a dominant and servient tenement, the easement must accommodate the dominant land, and both tenements must be held by different persons

Answer

The right must be registered, involve periodic payment, and be of definite duration

Answer

The easement must be granted by deed witnessed by two persons and registered under the Land Titles Act

Answer

There must be mutual benefit, a shared history of common ownership, and court approval

Question 6

What is the key legal distinction between a 'lease' and a 'licence' in Canadian property law?

Accepted Answer

A lease grants exclusive possession of land; a licence grants only personal permission to use land without a proprietary interest

Answer

A lease must be in writing; a licence may be created orally

Answer

A lease runs with the land automatically; a licence transfers to the tenant's heirs

Answer

A lease always requires rent; a licence is gratuitous by definition

Question 7

What is the 'covenant of quiet enjoyment' implied in a lease under Canadian landlord-tenant law?

Accepted Answer

An implied landlord's promise that the tenant shall have peaceful, undisturbed possession without interference by the landlord or those claiming under the landlord

Answer

A promise by the tenant not to disturb neighbouring occupants with noise

Answer

A municipal noise bylaw incorporated into residential leases by statute

Answer

A lease clause requiring mediation before the landlord may apply for eviction