What can be a timeshare - Study guides, Class notes & Summaries

What is a legally binding agreement? It is structured by formal, legal documents that define property rights, rules and restrictions It grants rights and/or imposes liabilities and responsibilities on the community association and members It provides governance, business, and communal aspects of administering, maintaining and enhancing the property Could also be considered a "contract" What is a legally binding agreement referred to in certain community associations? A covena...

A city park would be considered what type of zone? - Special use zone. A property's value minus any outstanding debt is known as... - Equity. A sales associate receives an earnest money deposit check on Thursday. The broker must deposit the check by? - 0- Thursday 1- Friday 2- Monday 3- Tuesday. A sales associate receives an earnest money deposit check on Thursday. The sales associate must turn the check over to their broker by: - Friday (the next business day). A timeshare owner is se...

TN Timeshare Exam Practice Test Questions and Answers Rated A+ What is the Tennessee Real Estate Commission? - Answer ️️ -Judicial body of real estate industry in TN Following discriminatory practice, you should make a complaint with ____ days. - Answer ️️ - 180 What is a timeshare estate? - Answer ️️ -Ownership or leasehold estate in property devoted to a timeshare fee, tenants in common, time span ownership, interval ownership, and a time share lease. What is an acquisition...

TN Timeshare What can be a timeshare? - CORRECT ANSWER Anything unless prohibited by another document or regulation. What is a project instrument? - CORRECT ANSWER All documents associated with a timeshare. What is the Tennessee Real Estate Commission (TREC)? - CORRECT ANSWER The judicial body of the real estate industry in Tennessee Following ...

1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up wi...

A Superior Test NC License Law 01 Questions and Answers What is the first point at which a provisional broker may begin practicing real estate in North Carolina? A:When the NCREC received notification of the provisional brokers activation with a BIC B:Upon successful completion of all coursework and required examinations C:Upon completion of all educational requirements D:Upon formal notification from the NCREC that the candidate has the successfully passed the real estate examination an...

1. When a land owner uses his land as security for a loan, the encumbrance created is called. ANS C. an involuntary lien 2. If an owner wants to list a property for sale "as is," the listing agent should ANS C. Question the seller to any known defects 3. According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timeshare located within the state of New Jersey, all of the following are true EXCEPT that the ANS A. licensee must hold a timeshare license 4. May a New...

Tennessee Timeshare License Exam Questions with Complete Solutions What is an acquisition agent? - Correct Answer People who solicit others to attend a presentation When does your license expire? - Correct Answer 2 years from the date of issuance What are the powers of the commission? - Correct Answer The can fine you, suspend your license, or refer you to court. If your license is expired, how can you get reinstated? - Correct Answer Retake the test What is an escrow account? - Cor...

Hawaii Exam Questions and Answers 100% Pass notice of a condominium unit owners association meeting must - Correct Answer ️️ -be delivered at least 14 days prior to the meeting in order to rescind the purchase of a new condo from the developer, the purchasers must - Correct Answer ️️ -submit a signed recession form w/in 30 days from date of receiving the form after the initial period, condo bylaws can be amended by - Correct Answer ️️ -67% of owners votes if a time share deve...

What is the purpose of license law? Correct Answer To protect the public, safety, and welfare. Can an associate broker have supervisory authority? Correct Answer No Does an executive broker have to be under supervision? Correct Answer Yes To who made an executive broker exercise supervision over? Correct Answer Executive brokers and sales persons To participate in real estate auction, must the auctioneer and ringman both hold a real estate license? Correct Answer Yes Define "prin...