Question
1. Ms. Bondurant builds a house near the edge of her property even though she's been warned the ground isn't stable there. When she discovers
1. Ms. Bondurant builds a house near the edge of her property even though she's been warned the ground isn't stable there. When she discovers the earth on your property next door slipping away into a natural sinkhole in a way that threatens her house, she tells you you'll have to fill it in or she'll take you to court. Do you have an obligation to support Ms. Bondurant's land here? Explain your answer.
2. The Mas has a natural spring on their land. The water bubbles up from beneath the ground and flows along a channel it's created for itself onto a neighbour's property. Mr. Mas has had a dugout made next to the spring. The spring can fill the dugout, and the water is used for the Mas' sheep, but now there's none left to flow onto the neighbour's farm. Are the Mas acting within their rights? Explain your answer.
3. Research what Interests might exist in your current home. Easements? Mortgages? Leases? City Restrictions? Condo Restrictions? If you can't find this, give three examples of Real Property interests and explain what they are.
4. Research options for financing or paying for a home. Look at bank websites and Canadian articles. Explain the difference between
A) a conventional Mortgage
B) a Home Equity Loan
C) a CMHC High Ratio Mortgage
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