Humber Real EstateEXAMS BUNDLE WITH Questions with 100% Correct Solutions

Define 'Authority' in legal terms - Answer The legal power or right given by a principal, and accepted by the agent, to act on the principal's behalf in business transactions with a third party, and is typically analyzed in terms of actual and implied authorities. What is an example of 'Actua...

What type of defect are the following examples of? - Hidden water damage behind a shower or bathtub surround - Fence encroachment onto a neighbouring property - Vermiculite insulation - Minor seasonal flooding in the basement - Answer Latent Defects

What are considered 'Fixtures'? - Answer Personal property that is securely attached - usually permanently - to a property and are typically included in the sale of the home. Examples of fixtures: curtain rods, window shutters, light fixtures, mirrors & built-in appliances. What are considered...

hat is a 'Holdover Provision'? - Answer A provision stating the brokerage is entitled to commission if a buyer is introduced to, or shown, the property during the listing period and purchases the property during an identified time period following the expiration of the listing. Also known as th...

Describe an air source heat pump. - Answer A system that transfers heat from outside to inside a building, or vice versa. Similar to ground source heat pumps, except that they extract heat from the air rather than the ground and use it to heat the house. What are the types of furnaces available? ...

What are R-Plans normally required for? - Answer - Severance of an existing parcel of land - First application (first registration) under the Land Titles Act - When the land registrar determines that the title is too vague or complex, an R-plan would be requested for clarity What is the purpose...