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

Fixture - ANSWER-An object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - ANSWER-Beneficial attachments to raw land that increase its value or improve its usefulness. Meridians - ANSWER-Imaginary north-south lines which intersect base lines to form a starting point for the measurement ...

An adequate legal description of real estate is one: - ANSWERby which a reasonable person can determine what property is described - the legal description is legally "adequate" if a reasonable person could identify the property based on the description. Ownership of real estate includes: a.) Rights to use the surface, subsurface and airspace over the land b.) Fixtures c.) Naturally growing tree growing on the land d.) All of the above - ANSWERD.) All of the above Subsurface rights i...

In Maine, a person without a real estate license may A. Receive a referral fee. B. Receive compensation for finding a buyer for a piece of property .C. Sell a relative's house and receive a fee not to exceed 5%. D. Call bids at a real estate auction. - ANSWERcall bids at a real estate auction under Maine Law "real estate brokerage' means: A. The full-time practice of real estate over a two year period. B. To act solely for the client of a real estate agency to the exclusion of other ...

Section 1 - Maine Real Estate Commission (2) The primary function of the Maine Real Estate Commission is? A. Enforce the rules and regulations by holding hearings on complaints B. Issue real estate licenses to qualified candidates C.. Promote public confidence in the real estate industry D. Oversee audits and continuing education of practicing licensees - ANSWERC. Promote public confidence in the real estate industry The industry members on the Maine Real Estate Commission are: a. Cit...

Pearson Vue Real Estate Exam Maine Questions and Answers 100% Correct Pearson Vue Real Estate Exam Maine Questions and Answers 100% Correct Pearson Vue Real Estate Exam Maine Questions and Answers 100% Correct Pearson Vue Real Estate Exam Maine Questions and Answers 100% Correct Most land uses are subject to regulation of Maine's Mandatory Shoreland Zoning Act when they are within how many feet of a river, wetland, lake, or ocean? - ANSWER-250 feet Most land uses are subject ...

A licensee operating a "business within a business." Not required to work 40 hours a week. - ANSWER-An independent contractor is: The brokerage Policy and Procedures Manual will address the agency relationship policies and the practices of the company. - ANSWER-When considering which agency to join, a candidate who intends to be an independent contractor should consider the company Policy and Procedures Manual because it will address: REALTORS - ANSWER-Which of the following real estate...

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Maine Real Estate Exam #2 Questions and Answers 100% CorrectMaine Real Estate Exam #2 Questions and Answers 100% CorrectMaine Real Estate Exam #2 Questions and Answers 100% Correct A licensee operating a "business within a business." Not required to work 40 hours a week. - ANSWER-An independent contractor is: The brokerage Policy and Procedures Manual will address the agency relationship policies and the practices of the company. - ANSWER-When considering which agency to join, a candida...

In Maine, an agency relationship begins when the - ANSWER-Buyer or seller and agency sign an agreement establishing the agency relationship. Where a licensee has an agency relationship with a client, his/her most important duties are owed to: - ANSWER-The client. Which of the following statements is true? For an agent to become an appointed agent in Maine: - ANSWER--The agency must have adopted the appointed agent concept. -The client must agree in writing to allow the agent to serve as ...