Podcast
Questions and Answers
What does a State of Title Certificate provide?
What does a State of Title Certificate provide?
- The state of title as of a specific date and time (correct)
- The current owner of a property
- Details on utility charges
- Information on property taxes
What is a 'Subject-to' clause typically associated with?
What is a 'Subject-to' clause typically associated with?
- A warranty on the condition of the property
- A clause that makes a contract immediately binding
- Conditions that must be fulfilled for a contract to become binding (correct)
- A property sale that is without conditions
Which of the following best describes a clear title?
Which of the following best describes a clear title?
- A title that indicates pending litigation
- A title free from any financial claims (correct)
- A title with multiple owners
- A title subject to financial encumbrances
What information does a Title Search provide?
What information does a Title Search provide?
Which of the following statements is true about utility charges?
Which of the following statements is true about utility charges?
What is the purpose of a Pending number?
What is the purpose of a Pending number?
What is assigned to a title upon ownership transfer?
What is assigned to a title upon ownership transfer?
What distinguishes a Parcel Identifier (PID)?
What distinguishes a Parcel Identifier (PID)?
Flashcards
Subject-to Clause
Subject-to Clause
A statement that outlines conditions that need to be met before a contract is legally binding, including a deadline for the removal of those conditions.
Parcel Identifier (PID)
Parcel Identifier (PID)
A unique nine-digit number assigned to each parcel of land in British Columbia, ensuring its distinct identification within the land title registry.
Pending number
Pending number
A number assigned to a document when it is presented to the land title office for the registration of property, linked to the Parcel Identifier (PID).
Title Search
Title Search
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Clear Title
Clear Title
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Title Number
Title Number
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State of Title Certificate
State of Title Certificate
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Utility charges
Utility charges
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Study Notes
Land Titles Office Terminology
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State of Title Certificate: A document issued by the Registrar of the Land Titles Office, showing the state of title as of a specific date and time.
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"Subject-to" Clause: A contract condition requiring fulfillment before it's binding and includes a deadline for removal. This clause must be included in the State of Title Certificate.
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Clear Title: A title free from all financial encumbrances.
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Title Search: A detailed printout showing both financial and non-financial encumbrances (e.g. water, sewer, garbage, recycling levies) against a parcel of land.
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Utility Charges: Fees for utilities, like water, sewer, and garbage, that are not registered against the title but are charged to the property. Note these charges don't typically include BC Hydro, cable, or telephone.
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Pending Number: A number assigned when a document is presented for land title registration, linked to the Property Identifier (PID).
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Title Number: A number given to a title when the ownership transfer document is registered at the land titles office.
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Parcel Identifier (PID): A unique nine-digit number for each parcel of land in British Columbia (BC).
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Description
Test your knowledge of essential terminologies used in the Land Titles Office. This quiz covers vital concepts such as State of Title Certificates, clear titles, and title searches. Perfect for students and professionals in the real estate and land management fields!
