Ky real estate law Study guides, Class notes & Summaries

KY Real Estate Practice - Law Portion (2023/2024) Already Graded A Which of the following fees that a broker charges an agent is a violation of the Kentucky Revised Statutes? - desk fee - long distance charges - affiliation fee - coffee fee affiliation fee Most of the time (with certain law exceptions) licensed Kentucky brokers shall maintain a definite place of business in what state? - Kentucky - the state in which the broker was born in - the state where the broker spends the most tim...

KY Real Estate Exam Questions and Answers If it is a felony - Answer-A licensee has a duty to report a conviction to the Commission if: 5 years - Answer-Revocation means that the licensee cannot seek reinstatement for how long? He or she moves out of state - Answer-A licensed Commissioner can be removed if: 30 days - Answer-If a tenant leaves owing rent, how long must the landlord wait before removing the deposit and applying the money to the unpaid rent? Yes, with approval from th...

KY Law Real Estate Verified Guide A broker cannot charge ____________________________________________________ to any of their sales associates ️an affiliation fee A broker cannot designate themselves ️as the designated agent of a consumer A broker has a written offer which was rejected by the seller. The broker should: ️keep a copy of the rejected offer in his/her files for five (5) years. A broker must maintain a copy of all of the following EXCEPT: ️buyer's new deed. A c...

What do Datums and Benchmarks measure? Elevation Joint Tenancy The joint ownership of property by two or more co-owners in which each co-owner owns an undivided portion of the property. On the death of one of the joint tenants, his or her interest automatically passes to the surviving joint tenants. What is a Preliminary Report? Issued by title insurance companies - gives buyers an overview of title history and any liens/encumbrances - it outlines what insurance companies will...

Kentucky State Real Estate Practice Exam (Ky Law) Questions And Answers | 100% Verified

KY State Exam Practice Verified Answers A licensee's principal broker or the broker's designated representative must attend the hearing for license law violations in Kentucky if the accused licensee ______. A. Has held a license for fewer than five years B. Is a new licensee C. Is a sales associate D. Is a trainee C. Is a sales associate Amanda helps her neighbor sell his home in Louisville by assisting him with the negotiations. She receives no compensation for her assistance....

Kentucky State Real Estate Practice Exam (Ky Law) Questions And Answers 2023

Kentucky State Real Estate Practice Exam (KY Law) Complete Guide A broker lists a residence. An acquaintance of the broker employs the broker to purchase the listed house. Before preparing the offer to purchase, which of the following is required of the broker? Written consent for dual agency from both parties A licensee has made an oral agreement to sell a property. The licensee proceeds to advertise in the local newspaper, and receives a full-price offer to purchase. According to Ken...