Humber/Ontario Real Estate Course 3 Exam Practice

What information can be determined from a title search by a lawyer?

1. Assessed property value

2. Boundary disputes with neighboring properties

3. Current compliance with zoning bylaws

4. Mortgages and liens against the property

5. Recent property appraisals

6. Structural integrity of the building

The correct answer is: Mortgages and liens against the property

A title search conducted by a lawyer primarily aims to reveal the legal status of a property, including any encumbrances that may affect its ownership. Mortgages and liens are specific claims or charges against a property and are critical components of a title search. These financial obligations must be disclosed as they can impact a buyer's decision and affect future ownership rights. Other options, while related to property, do not fall under the typical scope of a title search. Assessed property value pertains to taxation and valuation and is determined by municipal assessments. Boundary disputes require surveys and property lines determined by a different process, often involving land surveyors. Zoning compliance is assessed separately through municipal or planning authorities, not through a title search. Recent property appraisals provide market value insights but are not typically found in title documentation. Lastly, the structural integrity of a building would be assessed through inspections, not legal documents related to title. Thus, mortgages and liens are the direct results of what a title search would uncover.