Glossary

In a sale-leaseback transaction, one of the off-balance sheet financing techniques, a seller deeds property to a buyer for a consideration and the buyer simultaneously leases the property back to the seller.

A landlord may request that a tenant pay a security deposit at the beginning of a tenancy. The security deposit is intended to compensate a landlord for: - Damage caused by the tenant beyond normal wear and tear, - Any unpaid rent or bills, and - Any costs to the landlord if the tenant vacates without proper notice.

Refers to a building with a common wall on one of its sides (side, front or rear).

Subdivided site on which development works has been carried out (earthworks, roads, watersupply systems, sewers, fences, landscaping, etc.) to render it usable. When land has all the utilities (roads, watersupply, sewer services and electricity, it refers to fully serviced land or plot with all services.

Where an easement is appurtenant, it will typically require the existence of two parcels of land, known as tenements. The dominant tenement is the land which benefits from an easement, while the servient tenement is the one which bears the burden of the easement.

Servitude is a charge imposed on an immovable, the servient land, in favour of another immovable, the dominant land, belonging to a different owner. Under the charge the owner of the servient land is required to tolerate certain acts of use by the owner of the dominant land or himself abstain from exercising certain rights inherent in ownership. Servitudes are either apparent or unapparent. A servitude is apparent if it is manifested by an external sign; otherwise it is unapparent. Servitude extends to all that is necessary for its exercise.

Any property held in divided co-ownership is divided into “fractions” or shares. The fraction or share represents the right of the owner in the property. The portion of each owner corresponding to its share of undivided ownership in the common elements and determines, at the same time, the number of votes it has at general meetings of co-owners. The relative value of the fraction is also used to calculate the contribution of each of the co-owners for expenses arising from the co-ownership and operation of the property and the reserve fund.

Shareholding designates both the shareholders of a company and the share classes (common, preferred, voting, and controlling).

Shoreline protection is defined as those response activities that take place at or near the shoreline, rather than on open water, to protect the shore zone from becoming oiled or to protect vulnerable shore-zone resources that are at risk.

A Latin term meaning “without day”; where a court proceeding is adjourned “sine die” there is no specific date set for when the proceeding will be back before the court; often used in civil proceedings where the court grants an adjournment “sine die” and it is the responsibility of the parties to bring the matter back to court at a date and time that is agreeable to the parties.

A building with multiple levels having its living room area on the main floor, with stairs leading upward to the bedrooms approximately a half-story higher; and other stairs leading downward, a half-story lower, to the kitchen and/or dining areas and to a laundry or utility room.

Standardized property value that constitutes the result obtained by multiplying the assessment value by the “comparative factor” to bring a comparable basis the assessments originating from different roles.

The pleading in response or defence to the Statement of Claim in civil law proceedings where the Defendant alleges the facts relied upon in defence of the claim made in the action or “law suit”.

V = NOI/OCR Where: V = Value; NOI = Net Operating Income and OCR = Overall Capitalization Rate

Lease from one tenant (lessee) to another (called subtenant or sublessee). The agreement between the landlord (the lessor) and the first lessee remains in force and governs the terms of the sublease. Also called sublet.

Similar to argument; the address or presentation of the parties to the court at the end of a particular proceeding, after the evidence has been presented and before the court is to make its decision; an opportunity for the parties to summarize the issues, evidence and law and to persuade the court to make a decision in their favour.

A legal order addressed to a person to appear before a tribunal.

The substitution of one person in the place of another with reference to a lawful claim, demand, obligation or legal right.

Collectively, the suburbs are all of the continuous urbanization that extends beyond the central city (all of the urban area except the historical core municipality and other adjacent historical municipalities). A specific suburb can be an individual municipality or community in the suburbs.

Superficies is ownership of the constructions, works or plantations situated on an immovable belonging to another person, the owner of the subsoil. Superficies results from division of the object of the right of ownership of an immovable, transfer of the right of accession or renunciation of the benefit of accession. The right of the superficiary to use the subsoil is governed by an agreement. Failing agreement, the subsoil is charged with the servitudes necessary for the exercise of the right. These servitudes are extinguished upon termination of the right. The superficiary and the owner of the subsoil each bear the charges encumbering what constitutes the object of their respective rights of ownership. Superficies may be perpetual, but a term may be fixed by the agreement establishing its conditions.

The Supreme Court of Canada is Canada's final court of appeal, the last judicial resort for all litigants, whether individuals or governments. Its jurisdiction embraces both the civil law of the province of Quebec and the common law of the other provinces and territories. The Supreme Court of Canada stands at the apex of the Canadian judicial system. The Canadian courts may be seen as a pyramid, with a broad base formed by the provincial and territorial courts whose judges are appointed by the provincial and territorial governments. At the next level, there are the provinces' and territories' superior courts whose judges are appointed by the federal government. Judgments from the superior courts may be appealed to the next level, the provincial or territorial courts of appeal. As well, there are the Federal Court of Appeal, the Federal Court, the Tax Court of Canada and the Court Martial Appeal Court.

The syndicate ensures that the property is preserved, maintained and administered. It is created when condominium ownership is established. The board of directors is the administrative arm of the syndicate. The directors adopt the budget for the condominium property. The general meeting of co-owners examines issues involving all the condominium owners. Each owner is entitled to vote at this meeting, according to the number of votes he or she has.