Humber/Ontario Real Estate Course 1 Exam Practice

Which of the following statements is correct regarding a Transfer/Deed of Land?

1. Was designed specifically for use in the land titles system.

2. Is the primary standard land registration form.

3. Is the first of five standard land registration forms.

4. Requires the birth dates of sellers and buyers in selected situations only.

5. Acknowledges any associated mortgage details.

6. Records the consideration paid for the property.

The correct answer is: Is the first of five standard land registration forms.

The correct statement regarding a Transfer/Deed of Land is that it is the first of five standard land registration forms. In the land titles system in Ontario, a Transfer/Deed of Land is the initial form used to transfer ownership of a property from one party to another. It is a crucial document that sets the legal process in motion for the transfer of property rights. The other options are incorrect because: A. While the Transfer/Deed of Land is an essential document within the land titles system, it is not specifically designed solely for use in that system. B. The Transfer/Deed of Land is fundamental, but it is not the primary standard land registration form; it is one of the standard forms used in the process. D. The requirement for birth dates of sellers and buyers is not a standard condition for completing a Transfer/Deed of Land; this information may be necessary in specific situations, but it is not a general requirement. E. While mortgage details are essential in a real estate transaction, they are not always included in the Transfer/Deed of Land. Mortgages are typically addressed through a separate document such as a Mortgage/Charge. F. The consideration paid for the property is an important aspect of a real