OREA Property Rights and Ownership

Question 1

In Ontario, what is the difference between 'freehold' and 'leasehold' ownership?

Accepted Answer

Freehold provides indefinite ownership of the land and buildings; leasehold provides the right to use land for a specified period under a lease

Answer

There is no difference — both provide permanent ownership

Answer

Leasehold provides more rights than freehold

Answer

Freehold only applies to commercial properties

Question 2

What is a 'fee simple' estate in Ontario property law?

Accepted Answer

The highest and most complete form of land ownership, giving the owner the right to use, sell, or transfer the property

Answer

A simplified fee for property registration

Answer

A reduced-fee ownership for first-time buyers

Answer

A type of lease agreement

Question 3

In Ontario, what is a 'life estate' and how does it affect property rights?

Accepted Answer

An estate that lasts for the life of the owner, after which it passes to a designated remainderman

Answer

A permanent estate that can be inherited

Answer

An estate that automatically renews every year

Answer

A type of commercial lease

Question 4

What is 'joint tenancy' in Ontario property law?

Accepted Answer

A form of co-ownership where each owner has an equal, undivided interest with the right of survivorship

Answer

A tenancy agreement between landlord and tenant

Answer

A business partnership for property management

Answer

A type of commercial lease with multiple tenants

Question 5

How does 'tenancy in common' differ from 'joint tenancy' in Ontario?

Accepted Answer

In tenancy in common, owners can hold unequal shares and there is no right of survivorship — each owner's share passes through their estate

Answer

There is no difference between them

Answer

Tenancy in common requires equal ownership shares

Answer

Tenancy in common is only for commercial properties

Question 6

In Ontario, what are 'riparian rights' and how do they affect property ownership?

Accepted Answer

The rights of a landowner whose property borders a natural watercourse, including reasonable use of the water

Answer

The right to build a dock on any waterfront

Answer

The right to divert water from any source

Answer

Rights that only apply to oceanfront properties