OREA Land Registration Systems 3

Question 1

In Ontario, what is a 'transfer/deed of land' in the land registration context?

Accepted Answer

The legal document that conveys ownership of property from the seller (transferor) to the buyer (transferee)

Answer

A transfer (formerly called a deed) is the legal document used to convey ownership of real property from the transferor (seller) to the transferee (buyer). In Ontario's electronic system, it is registered electronically as a 'transfer.'

Question 2

What are 'land titles conversion qualified' (LTCQ) properties in Ontario?

Accepted Answer

Properties converted from the Registry system to the Land Titles system but with limited title guarantee due to the lack of a full title search

Answer

LTCQ properties were converted from the Registry system to the Land Titles system without a full title search. They carry a qualified title guarantee, meaning some historical title defects may not be covered by the Land Titles Assurance Fund.

Question 3

In Ontario, what is a 'charge' in the Land Titles system?

Accepted Answer

The equivalent of a mortgage — a registered interest securing a debt against the property

Answer

In the Land Titles system, a mortgage is referred to as a 'charge.' The borrower is the 'chargor' and the lender is the 'chargee.' The charge is registered against the property to secure repayment of the loan.

Question 4

What is a 'discharge' of a mortgage/charge in Ontario's registration system?

Accepted Answer

A registered document that releases the property from the security of the mortgage/charge after the debt has been paid

Answer

A discharge is a document registered on title that removes the mortgage (charge) from the property's title, confirming that the secured debt has been fully paid and the lender no longer has a claim against the property.

Question 5

In Ontario, what is the concept of 'notice' in land registration?

Accepted Answer

The principle that registration of a document provides constructive notice to the world of the interest claimed, and knowledge of an unregistered interest may constitute actual notice

Answer

Notice in land registration can be constructive (through registration on title) or actual (personal knowledge). Once a document is registered, the world is deemed to know about it. A person who has actual knowledge of an unregistered interest may also be affected by it.

Ontario Real Estate Practice Test

Ontario Real Estate Practice Test

OREA Land Registration Systems 3