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.

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In terms of agreement of purchase and sale, what is included that involves spousal consent?

Applicable for the seller, not the buyer
Not included in standard agreements
Consent can be waived if both parties agree
A section for spousal consent
Valid only for joint property purchases
Applicable only for commercial transactions

The correct answer is: A section for spousal consent

In an agreement of purchase and sale in Ontario, a section for spousal consent is included to ensure that both spouses are aware and agree to the terms of the transaction, especially when dealing with matrimonial homes or properties held jointly by spouses. It is crucial to have spousal consent documented to avoid any potential legal challenges in the future regarding ownership or rights to the property. Therefore, option D is the correct answer as it highlights the importance of including a section specifically for spousal consent in the agreement of purchase and sale.