A conservation authority issues a permit under s. 28.1 of the Conservation Authorities Act for a new house on a rural lot near a creek valley, valid for 24 months. The buyer asks whether it can be extended. Under O. Reg. 41/24, what applies?
Correct Answer
D) It can be extended on application at least 60 days before expiry, up to 60 months in total
Section 11 of O. Reg. 41/24 sets the maximum period of validity of a permit, including any extension, at 60 months. A holder whose permit was issued for less than that may apply to the authority for an extension at least 60 days before it expires, but the total validity cannot exceed 60 months.
Why This Is the Correct Answer
Section 11(1)-(3) allows an extension on application at least 60 days before expiry, with total validity capped at 60 months.
Why the Other Options Are Wrong
Deep Analysis of This Residential Trading Question
Background Knowledge for Residential Trading
Memory Technique
Exam Tip for Residential Trading
Real World Application in Residential Trading
Common Mistakes to Avoid on Residential Trading Questions
Key Terms
More Residential Trading Questions
What does a condition precedent in an offer to purchase allow the buyer to do?
What is the primary purpose of a buyer representation agreement in residential real estate transactions?
Which residential property type typically offers individual ownership of the unit plus a share in common elements?
What is the primary benefit of title insurance for residential property buyers?
In an Ontario resale offer, how long is the period for fulfilling or waiving a financing or inspection condition?
- → A buyer's lawyer requests a status certificate and pays the fee on May 1. The corporation never delivers it. After closing, the corporation claims the seller owed $3,000 in common expense arrears and demands it from the buyer, who relied on the silence. What is the effect under s. 76 of the Condominium Act, 1998?
- → A status certificate delivered to a buyer omits a $4,000 special assessment that the board levied against the unit after the current budget date to increase the reserve fund. The buyer relied on the certificate and closed. Under the Condominium Act, 1998, what is the result?
- → A seller's salesperson is estimating the buyer's costs of reviewing an Ontario condominium unit's status certificate. What is the most the corporation may charge for providing the certificate?
- → A listing salesperson expects offers next week on a resale condominium unit and knows buyers will want the status certificate. By when must the corporation give a status certificate once it is requested?
- → An investor buyer wants to know how many units in a condominium building were rented last year before making an offer. Which document must state the number of units for which the corporation received lease notices during the preceding fiscal year?
- → What is the most common type of residential property ownership in Canada?
- → A buyer reviewing a status certificate asks what the condominium's reserve fund may be spent on. Under the Condominium Act, 1998, what is the permitted purpose?
- → An established Ontario condominium corporation completed its most recent reserve fund study in 2024. Under O. Reg. 48/01, when must it complete its next reserve fund study?
- → A buyer's status certificate shows that the corporation received a new reserve fund study two months ago, and the board has not yet sent owners anything about it. What does the Condominium Act, 1998 require of the board?
- → The seller of a condominium unit got board approval and signed a registered s. 98 agreement with the corporation to install a hot tub on her exclusive-use terrace, taking on its repair and insurance costs. How does that agreement affect the buyer?
People Also Study
Real Property Law
60 questions
Contracts & Agreements
60 questions
Agency & Professional Ethics
60 questions
Mortgage & Real Estate Finance
60 questions
Related Study Resources
Helpful Resources
Previous Question
A condominium unit's Firm Occupancy Date passes and occupancy is delayed by 70 days for reasons that are not an unavoidable delay. The builder gave the required notice of the delay, and the buyer has $900 in receipted moving and storage costs. What delayed occupancy compensation does Tarion's coverage provide?
Next Question
A cottage is reached only by a private gravel road across a neighbour's land. The road is not a public highway and no public money has been spent on it. The neighbour threatens a locked gate that would cut off all road access to the cottage. Under the Road Access Act, what is his position?