Trust escrow accounts - Study guides, Class notes & Summaries

What is the purpose of an escrow account? - correct answer Keep money that doesn't belong to you SEPARATE from personal account/money Who is responsible for looking after Escrow Accounts for property? - correct answer Broker Another name for Escrow Money (earnest money, security deposits) is_________? - correct answer Trust Money When a Broker get...

NALA Paralegal Certification Exam Set Questions And Answers. NALA Canon 1 - correct answer.A paralegal must not perform duties that only an attorney may perform. Nala Canon 2 - correct answer.A paralegal may only perform tasks that are delegated and supervised by an attorney. Nala Canon 3 - correct answer.Paralegals must not engage in UPL, establish attorney client relationships, fees, or give legal opinions. Nala Canon 4 - correct answer.Paralegals may use discretion and p...

The Tennessee Human Rights Commission (THRC) enforces fair housing laws in the state. Exemptions to Tennesse's Human Rights Act are: 1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Rental of a room or rooming unit in a housing accommodation that shares a common bath (and only in regards to sex as a protected class). 3. Sale, rental, or preference of a dwelling owned, operated, or ...

Property Management Certification Exam Study Guide || With Questions & 100% Correct Answers Property Management Certification Exam Study Guide || With Questions & 100% Correct Answers Associated Licensee - ANSWER - licensee who is affiliated with a broker in charge or a property manager in charge branch office - ANSWER - A sub office of a company in which full-service real estate activities are conducted and at which a broker-in-charge or property manager-in-charge is licensed to conduct ...

in accordance with TN law, transaction records should be maintained for a period of correct answer: Three years a type of listing illegal in TN correct answer: A net listing TN licensee Doug wants to advertise another brokers listing. whose permission must he have to do this correct answer: The property owner what is the minimum number of years that brokers in TN must keep records of escrow/trustee accounts correct answer: Three a principal broker in TN, has a legal responsibilit...

Associated Licensee correct answers licensee who is affiliated with a broker in charge or a property manager in charge branch office correct answers A sub office of a company in which full-service real estate activities are conducted and at which a broker-in-charge or property manager-in-charge is licensed to conduct real estate transactions. Broker correct answers a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotia...

In accordance with TN law, transaction records should be maintained for a period of Three years A type of listing illegal in TN A net listing TN licensee Doug wants to advertise another brokers listing. Whose permission must he have to do this The property owner What is the minimum number of years that brokers in TN must keep records of escrow/trustee accounts Three A principal broker in TN, has a legal responsibility to review all of the following documents for accuracy and in a tim...

MASSACHUSETTS REAL ESTATE SALESPERSON LICENSE/ EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ RE Salesperson License requirements? - -18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? - -3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? - -Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

PSI TN (State) Exam Questions and Answers (Graded A) PSI TN (State) Exam Questions and Answers (Graded A) PSI TN (State) Exam Questions and Answers (Graded A) What is the purpose of an escrow account? - ANSWER-Keep money that doesn't belong to you SEPARATE from personal account/money Who is responsible for looking after Escrow Accounts for property? - ANSWER-Broker Another name for Escrow Money (earnest money, security deposits) is_________? - ANSWER-Trust Money When a Broker ge...