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

- The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age - ANSWER-Article 12-A of the NYS Real Property Law - A licensed real estate broker that holds the license of a salesperson. - ANSWER-Sponsor - Obtained after you register for the New York State Salesperson exam using eAccessNY. You mus...

Why is there a high demand for property managers in Florida? -ANSWER Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an? -ANSWER Appraiser What is dedication? -ANSWER Giving up private land for public use An organization with at least one real estate broker acting as the agent for others in negotiating the sale or re...

The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses is known as...? - ANSWER-Administrative Discipline To mingle or mix funds is known as what...? - ANSWER-Commingling Chris is a real estate broker involved in a residential transaction. When Chris illegally places his client's funds into his personal account, what is he engaged in...? - ANSWER-Commingling of Funds The post-license education require...

Article 12-A of the NYS Real Property Law -ANSWER The section of the New York Real Property Law pertaining to real estate salespersons and brokers. - Primary purpose is to "Protect the Public" - Requires a salesperson to be at least 18 years of age - Requires a broker to be at least 20 years of age Sponsor -ANSWER A licensed real estate broker that holds the license of a salesperson. "Summary of Your Submission" -ANSWER Obtained after your register for the New York State Salespers...

Why is there a high demand for property managers in Florida? - ANSWER-Absentee owners One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an? - ANSWER-Appraiser What is dedication? - ANSWER-Giving up private land for public use An organization with at least one real estate broker acting as the agent for others in negotiating the sale or...

what is land legally considered to include? what does an owner have rights to? - ANSWER-- *surface* of the earth, *subsurface* of the center of the earth, & *air* above the land (e.g. mineral rights, water, etc.) ^ owner has rights to all of that within property's boundaries real estate - ANSWER-actual *physical land* (aka unimproved land or raw land) and its *permanent attachments*, both natural & man-made fixture - ANSWER-An item of personal property that has been converted to real pro...

Accretion -ANSWERS Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant -ANSWERS Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License -ANSWERS License to act as intermediary on behalf of others for a commission. Bringing together of parties interested in making a real es...

Which of the following individuals is NOT required to have a real estate license? A.A real estate salesperson B.A real estate broker C.An associate real estate broker D.An attorney admitted to the NY State Bar - ANSWER-An attorney admitted to the NY State Bar If a real estate salesperson violates Article 12-A of the Real Property Law, they shall be guilty of a/an...? A.Misdemeanor B.Felony C.Criminal crime D.Civil crime - ANSWER-Misdemeanor According to this fiduciary duty, the age...

VA Real Estate Exam 2023 Rated 100% Correct Personal Property - ANSWER -generally movable and unattached to land -may be tangible (cars, boats, jewelry) -may be intangible (stocks, bonds, mortgages) -includes: trade fixtures & fructus industriales (emblements) Trade Fixtures - ANSWER -items of personal property brought to the premises by the tenant that are necessary to carry on the trade or business Fixtures - ANSWER -items that were once movable that are now affixed to real estate ...

Chapter 400 Item 1: Who supervises the activities of affiliated licensees, the activities of unlicensed persons affiliated with the agency (for example, the administrative staff), and the operation of the agency? - ANSWERThe Designated Broker Chapter 400 Item 1: For how many days must the Designated Broker review and initial documents prepared by a sales agent licensee for buyers and sellers? - ANSWERFor 90 days after the licensing of the sales agent with the agency. If the sales agent licens...