With Respect to the Land Titles System of Registering Interests

question 89

Multiple Choice

With respect to the land titles system of registering interests in land, which one of the following is true?

• A) This registration system is the same throughout Canada because the procedure has been set by the federal government to ensure a uniform method of registration.
• B) All the documents concerning an interest in land must be kept in the land title office, and to ensure the state of the title, a potential purchaser is advised to examine the various documents that have accumulated over the years.
• C) When documents concerning an interest in land are filed in the land title office, each document is examined, and if it is in order, the state of title certificate is amended to show the change.
• D) Mortgages, restrictive covenants, building schemes, easements, and even entries under the Builders' Lien Act need not be registered to protect those interests against third-party claims. Registration of such interests is voluntary and won't affect one's interest.
• E) The system is to safeguard the documents; the government is not guaranteeing title.

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Definitions:

Assembly Department

A segment in the manufacturing process where components are put together to form a final product.

Direct Labor-Hour

A measure of the work effort contributed by labor to produce goods, often used as a basis for assigning manufacturing overhead to products.

Predetermined Overhead Rate

A rate established before the period begins, used to allocate overhead costs to products or job orders based on a consistent activity measure.

Forming Department

A section within a manufacturing facility where raw materials are shaped into products or parts.