Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

A buyer of a home designated as a heritage property:

Must seek approval from the municipal heritage committee for purchasing that property.
Most likely needs to discuss external changes with the municipal heritage committee but not internal changes.
Can possibly be deprived of certain natural property rights when acquiring the property.
Is never restricted regarding intended uses for the home.
Is entitled to make any modifications without consulting any municipal authority.
Will benefit from special financial incentives or tax breaks for preservation work.

The correct answer is: Can possibly be deprived of certain natural property rights when acquiring the property.

A buyer of a heritage property in Ontario can potentially be deprived of certain natural property rights upon acquiring the property. Heritage properties are protected under legislation to preserve their historical and cultural significance. As a result, certain restrictions may be imposed on the property owner regarding alterations, renovations, or changes to the exterior or interior of the property. These restrictions aim to safeguard the heritage value of the property and ensure its preservation for future generations. Options A, B, D, and E are incorrect because they do not accurately reflect the legal implications and restrictions associated with heritage properties in Ontario. Option F is also incorrect as it states that the buyer will benefit from special financial incentives or tax breaks, which is not a guaranteed outcome when purchasing a heritage property.