Real estate u stuvia - Study guides, Class notes & Summaries

Which of the following are tax-deductible expenses resulting from home ownership? - ANSWER-Mortgage interest and property taxes Which of the following is true regarding the $500,000 exemption, in the sale of a personal residence, for a married couple filing jointly? - ANSWER-A married couple can use the $500,000 joint exemption if only one meets the ownership requirement, but BOTH meet the occupancy requirement A homeowner in NC had constructed a three-bedroom house with two full baths i...

What happens to the salesperson's license if the license of their sponsoring broker is suspended? A.The license of the salesperson will also be suspended. B.The license of the salesperson will be revoked and the salesperson will be required to pay a fine. C.The license of the salesperson will automatically be moved under another sponsoring broker in the firm. D.The license of the salesperson will remain active. - ANSWER-The license of the salesperson will also be suspended How many years...