Reference no: EM133420481

Real Estate Law and Conveyancing BC Canadian Law:

1- If there is more than one mortgage against a property, their priority is based on their...................

2- Most conventional mortgages are not permitted to be in excess of..................of the appraised value of the property, although a loan can be made in excess of that amount if it is insured.

3- The most common method to remove or withdraw a mortgage from a title is called a............ document.

4- A....................interest rate is one that fluctuates according to the prime rate (or other fixed rate) charged by the lender's bank.

5- a mortgagee has issued a demand lefter and no arrangement has been reached for the payment of mortgage arrears, the next step in the foreclosure process is for the mortgagee to file a........................with the Supreme Court and serve it on the mortgagor.

6- A......................takes place when a lender has a property listed for sale under the supervision of the court.

7- A conventional mortgage which is insured is known as a.........................mortgage

8- .........................arises when two or more people own real property together in such a way that there is a right of survivorship.

9- An interest in real property that exists only during a person's lifetime is known as a................... in the property.

10- A mortgage payment that is made up partly of principal and partly of interest is known as a............. payment.

11- Transferring a mortgagor's obligations under a mortgage to another mortgagor is called................... of the mortgage).

12- After a mortgage has been paid in full, the bank will take steps to..........................the mortgage.

13- The date as of which interest is calculated is known as the..........................

14- A mortgage that can be paid off in full at any time without giving notice or paying additional interest as a penalty is an.........................mortgage).