Ohio real estate law - Study guides, Class notes & Summaries

Hondros- Ohio Real Estate Principles and Practices Study Questions with Answers (Verified Answers) When may a person use the term REALTOR? What are advantages to a career in real estate sales? What is a disadvantage of a career in real estate sales? Most sales persons are hired as? Which is an area of specialization within real estate sales? The professional organization new licensees must join if their sponsoring broker is a member is the...... A real estate property manager Un...

Ohio Civil Rights Law a State law - correct answerthat prohibits housing discrimination on the basis of race, color, religion, sex, ancestry, national origin, disability, familial status or handicap. Commission - correct answerA five member committee that can adopt, amend, or rescind regulations concerning real estate licensing. Superintendent - correct answerThe administrator of the Real Estate License Law and the Division of Real Estate. Real Estate Education and Research Fund - corre...

The primary purpose of most civil lawsuits is to? - correct answerCompensate a person who has been harmed A person who commits a tort - correct answerHas violated the standards of reasonable conduct imposed by law What is an unconstitutional law? - correct answerA law that exceeds the powers granted to the government What is the main purpose of the doctrine of stare decisis? - correct answerTo make the court decisions more consistent and predictable Which would least likely limit a c...

A seller gave her agent a check for getting her house sold so quickly. What must the salesperson do with the check? - correct answerGive the check to his broker Rationale: Ohio license law prohibits salespeople from accepting money directly from a client. The seller may give the check to the broker who then may treat the money as a commission for the salesperson. If a broker dies and there are NO other brokers in the firm, what is true? - correct answerthe Superintendent may appoint an anc...

Agency - correct answerRelationship where one person (agent) acts for another (principal) under that principal's authority. Ancillary trustee - correct answerperson appoints by superintendent to wind up the business of a real estate brokerage. Brokers - correct answerA person, partnership, association, or corporation licensed by the state to perform specific real estate services under the license law for another in exchange for valuable consideration, which is usually money. Client - c...

Ohio Real Estate Exam test bank Questions with answers 2023May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive CORRECT A...

Appropriation - Taking private property for public use (with just compensation) through the governments power of eminent domain. aka: Condemnation CC&Rs - Covenants, conditions and restrictions. Recorded by a developer to create a general plan of private restrictions. Comprehensive Plan - A long-range plan for development of a city or region. Conditional Use - A land use that does not comply with the general zoning rules but is permitted there because it benefits the public. Nonconforming...

Chapter 1: The Real Estate Profession + Chapter 2: Getting a Real Estate License Questions And Answers Broker - ANS-Any person, partnership, association, limited liability partnership, limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges, negotiates, or otherwise deals in the real estate of others, or represents publicly that he does. Independent Contractor - ANS-A self-employed salesperson paid on jobs completed rather than hours worked and resp...

OHIO NOTARY EXAM QUESTIONS AND ANSWERS 100% PASS LIST THE 4 POWERS OF A NOTARY ADMINISTER OATHS; TAKE & CERTIFY ACKNOWLEDGEMENTS; TAKE & CERTIFY DEPOSITIONS; & RECEIVE, MAKE & RECORD NOTARIAL PROTESTS WHAT IS THE TERM OF A NOTARY? 5 YEARS WHERE DO NOTARIES GET SWORN IN & WHAT IS THE CLERK FEE? CLERK OF COURTS / $5.00 STATUTE FOR PENALTY OF NOTARY ACT AFTER EXPIRED COMMISSION 147.10 Notary public acting after commission expires. No notary public shall do or perform any act as a notary public k...

Davis College - Real Estate Licensing - Law - Final Exam Qs&As 2024 These federal courts, known as the trial courts, try and decide cases. - ANS-District courts Tony is a real estate licensee who has an ownership interest in Killian Title Company. He represents a client who needs to have a title search performed. What's Tony's best course of action? - ANS-Offer three different title companies for the buyer to choose from. If Killian Title is included, Tony should disclose his ownersh...