Podcast
Questions and Answers
In a trust, what does 'duality of ownership' or 'double dominium' refer to?
In a trust, what does 'duality of ownership' or 'double dominium' refer to?
- Joint ownership with a spouse
- Partial ownership rights
- Legal and equitable ownership (correct)
- Ownership of multiple properties
What is the term often used to describe the right of the beneficiary in a trust arrangement?
What is the term often used to describe the right of the beneficiary in a trust arrangement?
- Equity of redemption
- Double dominium
- Equitable interest (correct)
- Legal ownership
What distinguishes legal ownership from equitable ownership in a trust?
What distinguishes legal ownership from equitable ownership in a trust?
- Recognition by common law vs. recognition by equity (correct)
- Ownership period vs. ownership amount
- Right to sell vs. right to use
- Publicly registered vs. privately held
Which entity typically loses their property to the lender if they fail to repay a mortgage on time?
Which entity typically loses their property to the lender if they fail to repay a mortgage on time?
What does the right of the mortgagor to repay a loan and recover the property after the due date refer to?
What does the right of the mortgagor to repay a loan and recover the property after the due date refer to?
What remedy, created by equity, allows a mortgagor to redeem their property even after failing to repay by the due date?
What remedy, created by equity, allows a mortgagor to redeem their property even after failing to repay by the due date?
In estate contracts, what kind of contract precedes the final conveyance of property to an individual?
In estate contracts, what kind of contract precedes the final conveyance of property to an individual?
'Equitable interest' is associated with which party's rights in a mortgage arrangement?
'Equitable interest' is associated with which party's rights in a mortgage arrangement?
In a trust, what role does equity play in enforcing the rights of the beneficiary?
In a trust, what role does equity play in enforcing the rights of the beneficiary?
