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!

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How are chattels best described in real estate transactions?

  1. Items that are included with the property, unless otherwise excluded in the sale agreement.

  2. Items that are permanently attached to a building.

  3. Items that are typically included in the inventory list.

  4. Movable items that are not part of real property.

  5. Items associated with the property that are leased rather than owned.

  6. Items that remain with the property after the sale is completed.

The correct answer is: Movable items that are not part of real property.

In real estate transactions, chattels are best described as movable items that are not part of real property. Chattels are personal property that can be transferred separately from the real estate itself. Examples of chattels include furniture, appliances, and decorations that can be easily removed from the property. This distinction is important in real estate transactions as they are not automatically included in the sale of the property unless specifically mentioned in the agreement. Option A is incorrect as it describes fixtures, which are items that are included with the property unless otherwise excluded in the sale agreement. Option B is incorrect as it describes fixtures, which are items that are permanently attached to a building and are considered part of the real property. Option C is incorrect as it refers to inventory list items, which are not necessarily chattels but may include fixtures. Option E is incorrect as it describes leased items associated with the property, rather than chattels. Option F is incorrect as it refers to fixtures that remain with the property after the sale is completed.