Time share condos - Study guides, Class notes & Summaries

CMCA questions and answers latest top score. Resolution - ANS. Is a motion that follows a set format and is formally adopted by the board of directors. Community Association - ANS. Is a legal entity in which the owners enjoy the protection, enhancement, maintenance and preservation of their homes and property. Characteristics of a Community Association - ANS. Mandatory membership, mutually binding documents and lien-based assessments. Lien - ANS. Is ...

Florida Cam Prep With 100%Correctly Answered Questions A Community is defined as - CORRECT ANSWER-Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by - CORRECT ANSWER-Formal (in writing), legal documents defining property rights, rules and ...

1. What Is a Project? A. What a Project Is Not B. The Project Life Cycle C. The Project Manager 2. The Importance of Project Management 1-2 A. Compression of the Product Life Cycle B. Global Competition C. Knowledge Explosion D. Corporate Downsizing E. Increased Customer Focus F. Small Projects Represent Big Problems 3. Project Management Today—An Integrative Approach A. Integration of Projects with the Strategic Plan B. Integration within the Process of Managing Actual Projects ...

Pearson Vue Exam Questions and Correct Answers Real property interests include... an appurtenance that goes with the land. Examples: buildings, fences, trees, water rights, the ground below, mineral rights, air rights, easements What is a form of ownership that is restricted to husbands and wives? Tenancy by the entirety. Each owns the entire parcel. Neither can separately convey and interest during the other's life time. On the death of a spouse, the survivor owns the property D...

A Community is defined as -Answer Real or personal property owned by two or more entities, with a "legally binding agreement (covenant) to share responsibility and costs for maintenance and administration of property, assets, and association, and with specific rights granted to the members. Community Associations are structured by -Answer Formal (in writing), legal documents defining property rights, rules and restrictions. Community Associations are also refered to as -Answer Covenant...

Virginia Real Estate Exam questions and answers latest top score. If, after passing the licensing exam, more than twelve months passes before applying for a license, the applicant must then _______________ before he can apply for a license. - correct answers.Re-take and pass the exam again. Under the Virginia Residential Landlord and Tenant Act, the security deposit, any accrued interest and any deductions, damages, and charges shall be itemized by the landlord in a wri...

Virginia Real Estate - State Portion (2022/2023) Graded A Settlement Agent The person charged with coordinating the activities and documentation necessary for completing a real estate transaction. Cannot be a Real estate salesperson Principle Broker the one licensee who is responsible for all of the agent activities in the company associate broker a broker, affiliated with a brokerage, who is not the principle broker Transaction Recovery Fund provides relief to eligible consumers who have inc...

Land - Answer Surface, all natural things attached to it, subsurface, and air above the surface. Real Estate - Answer land plus manmade permanent attatchments Real property - Answer Real estate plus "bundle of legal rights" Bundle of Rights - Answer PUTEE (possess, use, transfer, exclude, encumber) Physical characteristics of real estate - Answer immobility, indestructibility, heterogeneity Immobility - Answer Land cannot be moved from one site to another, its location is foreve...

DCREC - Answer Real Estate law in DC is created bt City Council and enforced by the District of Columbia Real Estate Commision (DCREC) DCREC job - Answer - Creates the *rules and regulations* concerning real property and land interest including condos, co-ops, leases, and time-share - Has the authority to *issue and revoke licenses*, implement DC law, and establish a code of conduct - *Approves schools* and training center, sets licensing fees, and administers the Real Estate Guaranty F...

Mo Statute 339 - ANSWER-License Law RSMO 1986 License Law - ANSWER-Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration - ANSWER-Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects to be paid (Vital in license law requirement) MO Real Estate Commission (MREC) - ANSWER--authori...