module 3 Flashcards
Comparing Residential Structure Types- Detached structures
A detached structure is on an individual lot and is not
attached to any other building.
A single-family detached home ranks as one of the
most popular types of homes and is often preferred by
buyers who want more privacy and the ability to make
changes to their property without the input of a
neighbour.
Attached structures: Townhouses
An attached structure has at least one or both of the
side walls, or the floor/ceiling components of a
structure, attached to another structure. These are
commonly referred to as townhouses and can be built
side-by-side or stacked.
Semi-detached structures
A semi-detached structure has only one side wall that
is attached to another structure. The attached
dwellings are on separately deeded lots and are
divided vertically above ground by way of a party wall
Link structures
A link structure is where two or more buildings are
attached either below ground with the foundation wall,
or above ground with a garage wall.
Link structures are
often characterized by their misleading appearance, as
some may appear to be detached from above ground.
“dwelling unit.”
When discussing property types with a buyer, it should be determined whether the use of the structure should be
limited to a single-family dwelling, or if there is an interest in purchasing a multi-unit dwelling. To make this
distinction, it is important to understand what is considered a “dwelling unit.” A dwelling unit is described as a selfcontained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities, and
an exit from the building.
Bungalow
Bungalows are characterized by the primary living area
contained on one floor with few or no stairs.
Ranch Style:This variation of the bungalow
offers a larger overall size and typically features
an attached garage and a basement. Many of these homes contain approximately 2,000 square
feet of living area or more on one floor and are
normally oriented horizontally on a lot.
Bi-Level/Split Entrance: This variation of the
bungalow usually have a front entrance at the
split between the upper and lower levels. The
basement rests at a higher level above grade
than other bungalow types which allows for more
windows and greater sunlight in the basement
area. This has led to the basement area being
finished in a similar condition to the main floor,
rather than remaining unfinished.
One-and-one-half storey
This style of dwelling contains approximately 60% of
the overall floor area on the main floor, and features a
high-pitched roof, which provides additional living
space on the second floor. The roof pitch results in
slanted ceilings on the upper level and reduced head
clearance. Some styles will include dormers (vertically
projecting windows) and may be referred to as a,
“Cape Cod” design, originally popular in the
northeastern United States
Two-storey
his style of dwelling is characterized by a combination
of an expansive living area and a separate bedroom
area level. Two-storey dwellings differ from one-andone-half storeys, due to their lack of slanted ceilings on
the upper level. There are many variations of twostoreys, and they are popular in most major urban
areas.
Two-storey dwellings may be shown to prospective
buyers who desire a large space, such as families with
children. This style also appeals to those who prefer a
style that typically has bedrooms on a different level
from the rest of the living space.
Split level
This type of dwelling can combine features of other
styles, ranging between the bungalow, split-entrance
bungalow, and the two-storey home. The ease with
which occupants can move from one area of their
home to another is a primary characteristic. Side and
back splits may have anywhere from three to five
levels and are characterized by several sets of stairs.
Duplex
A duplex is described as a building divided into two
individual dwelling units. Each dwelling unit can be
accessed through its own private entrance or a shared
entryway. Duplexes can be divided horizontally, as in
the style of a two-storey, or vertically as in a bungalow.
Many duplex structures are converted from a singlefamily use to a multi-unit use.
A vertically-divided duplex should not to be mistaken
for a semi-detached structure, although the style of
each could be similar.
Triplex
triplex is described as a building divided into three
individual dwelling units. Each dwelling can be
accessed through its own private entrance, a shared
entryway, or both. Triplexes are also divided
horizontally and/or vertically depending on the style of
the structure and many are converted from a singlefamily or other use to a multi-unit use.
Fourplex
A fourplex is described as a building divided into four
individual dwelling units. Most fourplex structures
were purpose-built, containing a separate entry rather
than a shared entryway. Fourplexes are typically in the
style of a bungalow, one-and-one-half storey, or a twostorey dwelling that is divided vertically.
Fee Simple Interest and Leasehold Interest
module 3- lesson 2 notion
Fee Simple
Ownership for an indeterminate amount of time
● The highest form of ownership, with the most rights and the fewest limitations
● These rights are commonly referred to as the “bundle of rights”
Leasehold
• Occupancy rights NOT ownership.
• Rights can or do last for a pre-determined amount of time.
• Fewer rights than fee simple (tenants do not have the right to sell or give away
the property, but may sublet, for instance, with express permission from their
landlord)
The right to take property
Expropriation is the term that describes a government body exercising its right of eminent domain to take private
property from an owner for greater public use or benefit in exchange for a fair price at market value.
Right to Regulate
It is the right of government to regulate property for the promotion of public safety, health, morals, and general
welfare. It is also referred to as police power. Zoning bylaws, building codes, traffic, and sanitary regulations are also
based on this right to regulate. Various federal and provincial statutes impact land ownership, such as land
planning.
Right to Levy Taxes
Municipalities in Ontario generate revenue by charging taxes to owners based on their property’s value. The
requirement that property tax be paid is one of the basic limitations on ownership rights. In addition to the annual
taxes, a property may also have a special tax levy for local improvements
Escheat
The Escheat Act, 2015 pertains to property of individuals who die intestate or without lawful heirs.
Private Limitations
Private limitations are restrictions placed on a property by a landowner rather than by a government body. You’ll
learn about two common types of private limitations, restrictive covenants and easements. You will need to be
mindful that once granted, these private limitations “run with the land”, meaning they attach to the property title
and bind both current and subsequent owners.
Restrictive
A restrictive covenant is a limitation placed on the use of property and is registered on title for that property. It is a
contract between two land owners, where one owner (the covenantee) acquires the right to restrain the other
owner (the covenantor) from putting the land to certain specific uses. A restrictive covenant remains in effect if
either property is sold.
Easement
Like a restrictive covenant, a property easement is usually registered on title and “run with the land”. Exceptions are
statutory easements like utility agreements put in place to maintain and install wiring. An easement also binds
subsequent owners of the property, and therefore, should be disclosed to any prospective buyer.
Easement rights are granted by one property owner (the servient tenement) for the benefit of at least one other
property owner (the dominant tenement), usually allowing them special use of the granter’s land, such as a right of
way.
concurrent ownership
occurs when two or more persons hold ownership of a
property simultaneously.
Concurrent ownership interests normally fall into two primary categories, joint tenancy
and tenants in common
Joint tenancy: is a form of ownership in which each
owner has an equal and undivided interest in the
property. This form of ownership is commonly, but
not exclusively, found among married couples.
Tenants in common: This form of ownership is commonly found among
business partners or friends, but can also be within
married couples, especially when there is a difference
in the equity being brought into the purchase. With
tenants in common, there is only the unity of
possession required. **Tenants in common may hold
different interests and acquire those interests in
different ways at different time
