Ontario Mortgage Agent Practice Exam

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Study for the Ontario Mortgage Agent Exam. Prepare with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your test!

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What comprises a group of restrictive covenants in a development plan?

Encumbrance
Dominant tenement
Building scheme
Easement

The correct answer is: Building scheme

A group of restrictive covenants in a development plan refers to a set of rules and regulations that dictate how a property owner must use their land, such as restrictions on what can be built on the property and how it can be used. Option A, Encumbrance, is a general term that refers to any claim or liability attached to a property, which does not necessarily include restrictive covenants. Option B, Dominant tenement, refers to the property that benefits from an easement, not the restrictive covenants themselves. Option D, Easement, is a specific right given to someone to use land owned by another person for a specific purpose, and is not the same as restrictive covenants. Therefore, the correct option is C, Building scheme, as it specifically refers to a set of restrictive covenants in a development plan.