Maine real estate study - Study guides, Class notes & Summaries

Abstract of Title - ANSWERA _____ exam summary prepared from the records in the registry of deeds Accounting - ANSWEROne of the seven fiduciary duties of an agent to a client: agent must report to the client how money held for the client is to be handled Accretion - ANSWERThe process by which a brook, river, stream or oceanic action adds land to an existing parcel Adjustments - ANSWERFor CMA: sold properties are used to estimate a sales price - the __________ is for differences in the p...

Maine Real Estate - 7-15 Final Study Guide Questions. The right to use the land of another but not to possess it is called - correct answer Non-Possessory Rights An easement that involves two parcels of land is called an - correct answer Appurtenant Easement. The land that benefits from an appurtenant easement is the - correct answer Dominant Estate or Tenement. The land that provides the rights of the appurtenant easement to the dominant estate is the: - correct answer Servient Esta...

Maine Real Estate Law Exam Prep! Study StudyIn Maine, a person without a real estate license may: - correct answer Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - correct answer A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: - correct...

Maine Real Estate Law Exam Prep Study Study A buyer is "under contract" to purchase a property. The subagent of the listing agency finds out that the buyer just lost his job. What is the duty of the subagent? ️Inform the listing agency A condo association uses its By Laws to: ️Govern the day-to-day operations of the condo association A designated broker in Maine is: ️Responsible for the brokerage activities of anyone in her real estate brokerage agency. A Maine licensee shall...

Maine Real Estate Law Exam Prep! Study StudyIn Maine, a person without a real estate license may: - correct answer Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - correct answer A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: - correct...

Maine Real Estate 2 Study Guide Test 2024. The four industry members on the Maine Real Estate Commission are - correct answer Licensees who have held broker or associate broker licenses for five years The Maine Real Estate Commission has the power to - correct answer Suspend or revoke a real estate license In Maine a person without a real estate license may - correct answer Call bids at a real estate auction Under Maine laws and rules "real estate brokerage" means - correct answer A ...

Chapter 27 - ME LAWS Study Guide Test.You are a real estate licensee in Maine. Your friend Andrew, who is not a real estate licensee, asks if you will pay him $250 for every sales lead he sends you. What do you tell Andrew? - correct answer I can't pay referral fees to someone who is not a real estate licensee. Elwood holds a Maine auctioneer license. He wants to call bids at a real estate auction and take custody of the earnest money from the highest bidder. Does Elwood need a real estate l...

Maine Real Estate Law Exam Questions & Answers Verified 100% Correct!! A client must be informed as to the real estate brokerage agency's appointed agency policy and: Give written consent to that policy in advance of entering into a brokerage agreement. A disclosed dual agent may disclose any information to one party that the licensee gains from the other party if the information is relevant to the transaction except: Confidential negotiating strategy not disclosed in the sales offer as ...