Exam (elaborations)
QACIQ EXAM PREPARATION SET
- Course
- Institution
QACIQ EXAM PREPARATION SET ...
[Show more]
Content preview
QACIQ EXAM PREPARATION SET2024-2025
Successions with a Will: Who Signs?
No liquidator means all legatees.
With a liquidator = complete admin liquidator or simple admin liquidator with
permission from legatees and legal heirs.
Who signs for succession without a will?
No liquidator equals all lawful heirs.
With a liquidator: liquidator approved by legal heirs
What documents are required for succession planning?
During the liquidation of the succession.
-Declaration of transmission (with or without Will)
-If there is no will and a liquidator is appointed, all legal heirs must sign an Act of
Nomination authorizing the liquidation.
Following the liquidation of the succession.
-The Delivery of Legacy, analogous to a Deed of Sale (details the legatees/legal
heirs who inherited property)
,What should you consider when it comes to succession?
Declaration of Transmission
Notarized Will or Holograph Will (written)?
Liquidator - Full or Simple Administration
Legacy delivery - if the property has already been transferred into the names of
legatees/legal heirs (after the estate has been liquidated).
Act of nomination: Who is authorized as a liquidator by the legal heirs?
*If the seller dies during the brokerage contract, you would complete an AM form
and take the immovable off the market until a liquidator is assigned/authorized to
sell it. Must determine whether or not a will exists, request that the family consult a
notary, and obtain a declaration of transmission. Who are the heirs? Legatees?
To relist an immovable property, fill out another AM form. Make sure you utilize
the IV form to identify the liquidator and collect his address and information.
The company sells the immovable property? Who signs?
The seller's name is the same as the company's.
-The name of the representative, who is permitted to sell, is included in the
Company's Resolution.
BCS vs. DS: Which should you accomplish first?
Always finish the DS first.
,You then annex the DS to BCS.
Importance of a Seller's Declaration?
-A mandatory form
-The seller must reveal everything he knows about the property, or he may be held
responsible/liable for any damages or deficiencies discovered.
-Protects the seller from hidden defect charges.
-Protects buyers during the buying process and pricing selections.
-Protects the broker by revealing all relevant information, conducting due
diligence, and verifying everything!
-
DS, Clause D 2.6. - What should I mention in the D14 section?
Immovables are impacted by:
-hypothecs: include bank information and the register number.
-servitudes: include the register number and description
Other real rights include the right of way, cultural property, and so forth.
*Servitudes are only counted if they are published and include a number.
, -Verify the deed of sale, loan, and certificate of site.
Declarations in D.14 must be clarified and all supporting documentation included.
How can you verify the ownership of a Seller?
The Seller should supply you with a notarized copy of the Deed of Sale, which you
must verify.
If the client does not already have one, recommend that he get one.
Where can you get information about the owner?
1. sale agreement
2. Land Register:
-Index of Immovables (cadastral number required).
- Municipal tax invoices.
There are two types of contracts.
Contract for Services: brokerage contracts.
Consumer Contract: if the seller is a natural person acting on behalf of a business.
What are the four choices when a seller is represented?
1. Natural Person (Co-owner)
2. Mandatory - Need power of attorney/mandate.
3. Succession: Declaration of transmission, liquidator, legatees, or legal heirs.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller luzlinkuz. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81298 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now