Illinois leasi - Study guides, Class notes & Summaries

Illinois Leasing Agent UPDATED Questions and CORRECT Answers the leasing agent license shall expire on July 31st of: - CORRECT ANSWER- even numbered years sponsoring brokers must submit the 45 day sponsor card to IDFPR within: - CORRECT ANSWER- 24 hours of employment

Illinois Leasing Agent License Exam Marking Scheme What is the name given to the Illinois license laws under which real estate brokers practice? - Answer -Real Estate License Act of 2000 Practicing real estate without a license, and could result in being fined up to what? - Answer -$25,000 per event. How long must real estate brokers keep records in Illinois? - Answer -5 Years. The ruling of Chicago Bar Association, et al. v. Quinlan and Tyson, Inc has to deal with what? - Answer -Pl...

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Illinois Leasing Agent UPDATED ACTUAL Questions and CORRECT Answers Acceptance by Ratification - CORRECT ANSWER- The acceptance of lease terms that occurs when a tenant takes possession of the property but does not sign a lease. This form of acceptance is recognizable by the courts. Accord and Satisfaction - CORRECT ANSWER- When all parties have agreed to a change in one or more of the terms of a contract.