Humber/Ontario Real Estate Course 1 Exam Practice

Who can acquire vacant industrial land for an organization?

1. A corporation if it is a privately-held, but not a publicly-held, corporation.

2. An organization that is a privately-held corporation, but not a non-profit organization.

3. An organization that is a publicly-held corporation only.

4. A privately-held corporation or a non-profit organization.

5. A government body or municipal authority.

6. A publicly-traded company only.

The correct answer is: A privately-held corporation or a non-profit organization.

In Ontario, vacant industrial land can be acquired by a privately-held corporation or a non-profit organization. This answer is correct because both privately-held corporations and non-profit organizations can fulfill the requirements necessary to acquire vacant industrial land. Privately-held corporations have the financial means to purchase the land, while non-profit organizations can also be property owners and are often involved in various real estate transactions. Options A, B, C, E, and F are incorrect because they do not accurately represent who can acquire vacant industrial land. Publicly-held corporations, non-profit organizations, government bodies, and municipal authorities have specific regulations and limitations governing their ability to acquire real estate assets, which may not align with the requirements for obtaining vacant industrial land in Ontario. So, the correct choice here is D.