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Azure Tide Real Estate school general questions (complete)Questions and Answers
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Azure Tide Real Estate school general questions (complete)Questions and Answers
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10/8/24, 6:33 AMScheduled maintenance: October 9, 2024 from 01:45 AM to 03:45 AM
Azure Tide Real Estate school general questions
Jeremiah
Terms in this set (731)
COLD + AC Six duties of the broker as a fiduciary are :
- C = Care, skill and diligence
- O = Obedience,
- L = Loyalty,
- D = Disclosure,
- A = Accounting,
- C = Confidentiality
OR
OLD CAR
- O = Obedience,
- L = Loyalty,
- D = Disclosure,
- C = Confidentiality
- A = Accounting,
-R = Reasonable care, skill and diligence
WHICHEVER ONE YOU CAN REMEMBER
EASIER!
township a square 6 miles on each side
A Transition to Transaction Agent Notice is When changing from a single agent to a transaction broker when is required?
required to be signed.
Refers to a form of deterioration that's economically feasible to repair. In other
What is curable deterioration? words, the increase in value exceeds the cost of repair. Painting is a good example
Azure Tide Real Estate school general questions
of something that generally adds more value than it cost?
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recorded plat method A lot and block survey is also called a
General Warranty Deed The most commonly used deed with the most comprehensive protections
highest and greatest type of ownership interest (Title) that can be held in real
Fee Simple
property.
Florida landlord must give tenant how many hours to enter property unless of
12 HOURS
emergency.
Real Estate PLUS the Bundle of rights associated with ownership of land and all
Real Property
permanent attachments to land
Land, including the sky above, what is below the ground, the trees and any man-
Real estate
made attachments.
Mortgage What pledges the property for collateral
An arrangement, wherein a person, borrows money from the bank by collateralizing
an asset, without transferring title and possession, is called hypothecation. It is a
charge formed on any movable asset by the owner, to raise funds from the bank,
without transferring the ownership and possession to the lender. In this agreement,
Hypothecation
the borrower (owner) of goods borrows money against the security of assets, i.e.
inventories. If the hypothecator fails in paying the dues within the stipulated time, the
hypothecatee can file a suit, to realise the debt by selling the hypothecated asset.
Simply put, they do not hold a lien on the property itself
Lien Theory State Lender holds a lien against the property but the owner holds the title
Title Theory State a state where the mortgage lender has title to the property until the debt is repaid
Lien Theory Is Florida a Lien Theory state or a Title Theory state?
May a broker and sales associate have a "group license" in order to sell for all the
Broker and sales associate
entities owned by the owner/developer or just a broker?
Is interest on an assumable mortgage paid in arrears or in advance and who gets a
Interest on an assumable mortgage is paid
credit for it at closing?
in arrears, so the buyer gets a credit at
closing and it is a debit to the seller
What is the process whereby builders, brokers, and rental property managers induce
purchasers or lessees of real property to buy land or rent premises in
Steering
neighborhoods composed of persons of the same race.
Redlining financial institutions refusing to lend money in certain neighborhoods
Statutory Method Which method of calculating uses 30 days for a month and 360 days for a year.
$100-$500 The penalty involved with a citation are fines between what amount?
To protect residential property. What is the purpose of city planning?
Do Florida Statutes allow for a sales associate to incorporate as a PA (Professional
Corporation), a LLC (Limited Liability Company) or a PL (Professional Limited Liability
Yes
Company) for the purpose of having commission paid to the appropriate
corporation.
Will the Florida DBPR investigate a complaint against a licensee if the complaint is
No, the complaint MUST BE IN WRITING!
either verbal or written?
Yes, as long as it is in WRITING! Will the Florida DBPR investigate an anonymous complaint against a licensee?
Property can also be identified through an assessors parcel number, referred to as
Property Tax
PID, which is used to aid in the collection of what type of tax.
Can a sales associate or broker associate have a "group license" in order to sell for all
Yes
the entities owned by the owner/developer?
Azure Tide Real Estate school general questions
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