With Respect to the Land Titles System of Registering Interests

question 1

Multiple Choice

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

• A) 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.
• B) 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.
• C) The system is to safeguard the documents; the government is not guaranteeing title.
• D) 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.
• E) 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.

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Definitions:

Satisfaction Levels

A measure of how goods or services meet or surpass customers' expectations.

Indifference Curve

A graph that shows a combination of two goods that give a consumer equal satisfaction and utility, representing their preferences.

Equal Satisfaction

A principle in consumer choice theory that suggests consumers allocate their resources to maximize satisfaction or utility.

Indifference

A state where a consumer has no preference between two or more choices.