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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What does the Planning Act clause in an agreement of purchase and sale specify?

The buyer must pay any costs related to obtaining Planning Act compliance.
The buyer agrees to follow municipal zoning regulations according to the Planning Act.
The seller agrees to obtain necessary consents to ensure Planning Act compliance.
It is mainly focused on the title search process leading to land registration.

The correct answer is: The seller agrees to obtain necessary consents to ensure Planning Act compliance.

The Planning Act clause in an agreement of purchase and sale typically specifies that the seller agrees to obtain necessary consents to ensure Planning Act compliance. This means that the seller is responsible for ensuring that the property meets all planning and zoning requirements as outlined in the Planning Act. It is crucial for the seller to address any issues related to compliance with the Planning Act to avoid any potential legal or financial consequences for the buyer. Option A is incorrect because it is usually not the buyer's responsibility to pay costs related to obtaining Planning Act compliance; this is typically a seller's duty. Option B is incorrect as it implies that the buyer is the one agreeing to follow municipal zoning regulations, which is typically the seller's responsibility. Option D is also incorrect as it mentions the title search process and land registration, which are separate elements from Planning Act compliance specified in the agreement.