A Covenant That Passes with the Land So That Whoever

question 16

Multiple Choice

A covenant that passes with the land so that whoever owns the land is bound by or entitled to the benefit of the covenant

• A) is a covenant of seisin.
• B) is a covenant of further assurances.
• C) is a covenant of quiet enjoyment.
• D) is said to run with the land.

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Definitions:

Quarterly Payments

Payments made every three months over the course of a year.

Present Value

The modern-day value of a potential future sum of money or sequence of financial inflows, accounting for a particular return rate.

Registered Education Savings Plan

A tax-advantaged savings account in Canada designed to help save for a child's post-secondary education.

Compounded Semi-annually

Involves calculating and adding interest to the principal amount of an investment or loan twice per year, leading to compound growth over time.