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1. There are RIGHTS associated with the ownership of real property and there are also limitations on those rights. WHICH OF THE FOLLOWING STATEMENTS CORRECTLY APPLIES TO THESE RIGHTS AND RESTRICITIONS?

A. A private property owner's right of escheat restricts the government's power of expropriation

B. A property owner's riparian rights are not subject to any restrictions

C. A land developer has the right to impose zoning bylaws to control the use of the property once it is sold

D. The crown (government) has the right of eminent domain and this is considered to be a restriction on private property rights.

2. You own a 70 year old 2 -storey home on a large rectangular lot with 98 FEET frontage and 176 FEET DEPTH. You would like to DIVIDE the lot and sell your side yard as a building site. This would leave you with 50 FEET frontage for the lot on which your home is situated,m plus a building lot with 48 FEET frontage. The zoning bylaws require a minimum of 50 FEET of frontage for a building lot. How does this affect your plan to sell off the building lot?

A. You can obtain a subdivision plan approval and sell the buikding site

B. You may be able to get a consent to sever the lot if Committee og Adjustment approves a minor variance

C. The lot does not comply with the bylaw and there is no possibiity of dividing the lot.

D. Your home was built before the zoning bylaw was enacted and the building lot would be a legal non-conforming use.

Financial Management, Finance

  • Category:- Financial Management
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