Humber/Ontario Real Estate Course 2 Exam Practice

What is a purpose of the Land Titles Act?

1. Facilitate the expedited sale of delinquent properties.

2. Provide a safe repository for surveys and architectural plans.

3. Guarantee the government's financial support for developers.

4. Ensure the accuracy of property ownership records and simplify the transfer process.

The correct answer is: Ensure the accuracy of property ownership records and simplify the transfer process.

The purpose of the Land Titles Act is to ensure the accuracy of property ownership records and simplify the transfer process. Under this act, the ownership of land is registered, providing a system where the government guarantees the accuracy of property ownership records. This serves to simplify and streamline the transfer of property by providing clear and certain ownership information. This helps in reducing disputes over property ownership and ensures a more efficient real estate transaction process.