OREA Ontario Real Estate Law

Question 1

In Ontario, which legislation governs the transfer of land and the registration of interests in real property?

Accepted Answer

The Registry Act and the Land Titles Act

Answer

The Planning Act only

Answer

The Condominium Act only

Answer

The Municipal Act

Question 2

What is the purpose of the Planning Act in Ontario real estate?

Accepted Answer

To regulate land use planning, subdivision of land, and development controls

Answer

To set property tax rates

Answer

To govern the construction of residential buildings

Answer

To establish the duties of real estate agents

Question 3

Under Ontario law, what is the significance of the 'doctrine of merger' in real estate transactions?

Accepted Answer

It means that upon closing, the terms of the agreement of purchase and sale merge into the deed and can no longer be enforced separately

Answer

It combines two adjacent properties into one parcel

Answer

It merges the buyer's and seller's legal representation

Answer

It combines multiple mortgages into a single loan

Question 4

In Ontario, what is the 'Family Law Act' requirement regarding the matrimonial home in a real estate transaction?

Accepted Answer

Both spouses must consent to the sale or disposition of the matrimonial home, even if only one spouse is on title

Answer

The matrimonial home can be sold without the spouse's knowledge

Answer

Only the spouse on title needs to consent

Answer

Spousal consent is only needed for properties over $500,000

Question 5

What is the role of the 'Residential Tenancies Act' in Ontario real estate transactions?

Accepted Answer

It governs the rights and obligations of residential landlords and tenants, including protections that survive property sales

Answer

It only applies to commercial properties

Answer

It sets the price for rental properties

Answer

It is only relevant to purpose-built rental buildings

Question 6

Under Ontario law, what is the limitation period for bringing a civil action related to a real estate transaction?

Accepted Answer

2 years from the date the claim was discovered

Answer

1 year

Answer

5 years

Answer

10 years