Examlex
of the following statements are true EXCEPT:
First Mortgage
A primary mortgage on a property that has precedence over all other mortgages or liens.
Charge
A secured claim (similar to a mortgage) registered against real property under the Land Titles System.
Land Titles System
A provincial government-operated system for the registration of interests in land where the government confirms and warrants the particular interests in land.
Registered Mortgage
A type of mortgage whose details are recorded with a governmental or other official registry, confirming the lien on the property.
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