Humber/Ontario Real Estate Course 1 Exam Practice

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What is the alternate term used for "mortgage" under the Land Titles Act?

  1. Deed of Land

  2. Charge

  3. Mortgage Title Document

  4. Transfer of Land

  5. Encumbrance

  6. Charge/Mortgage of Land

The correct answer is: Charge

The alternate term used for "mortgage" under the Land Titles Act is "Charge." In real estate terminology, a charge is a form of security interest granted over an asset for the purpose of securing a debt or obligation. In the context of real estate transactions, a mortgage is essentially a type of charge placed on the property to secure the repayment of a loan. Therefore, "Charge" is the correct term and the other options are not directly associated with the concept of a mortgage under the Land Titles Act.

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