In British Columbia's Land Title system, what is the effect of registering a mortgage against a property?
Correct Answer
A) The mortgage creates a charge against the title
Under BC's Land Title Act, a registered mortgage is a charge: an estate or interest in land less than the fee simple (s. 1). The mortgagor stays the registered owner, and the mortgagee holds a security interest that it can enforce, usually through court foreclosure proceedings, if the borrower defaults.
Why This Is the Correct Answer
This answer is correct. A registered mortgage is a charge on the title, an interest less than the fee simple, securing the loan. Ownership stays with the mortgagor, and the charge remains on title until it is discharged.
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