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 does a restrictive covenant refer to in real estate?

A benefit given up by a property
An interest in land created by a landlord and tenant
A restriction placed on title of a property for another's benefit
A co-ownership agreement

The correct answer is: A restriction placed on title of a property for another's benefit

A restrictive covenant in real estate refers to a limitation or restriction placed on the title of a property for the benefit of another party. This could include limitations on the type of structures that can be built on the property, restrictions on certain uses of the property, or obligations to maintain the property in a certain condition. None of the other options accurately describe a restrictive covenant. Option A implies the relinquishment of a benefit, rather than a restriction being placed. Option B refers to an interest or legal right between a landlord and tenant, which is not the same as a restrictive covenant on a property. Option D, a co-ownership agreement, is a legal contract between multiple owners of a property, and does not involve a restriction on the title.