Maryland Real Estate Practice - unit 1 COMPLETE QUESTIONS & ANSWERS(RATED A)
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Course
Maryland Real Estate
Institution
Maryland Real Estate
The Maryland Real Estate Brokers Act - ANSWER a law designed to protect the public interest. it is title chapter 17 in the Business Occupations and Professions article Annotated Code of Maryland. Also known as title 17. enacted by the legislative branch of the Maryland government: General Assembly,...
Maryland Real Estate Practice - unit 1
COMPLETE QUESTIONS & ANSWERS(RATED A)
The Maryland Real Estate Brokers Act - ANSWER a law designed to protect the public interest. it is title
chapter 17 in the Business Occupations and Professions article Annotated Code of Maryland. Also known
as title 17. enacted by the legislative branch of the Maryland government: General Assembly, which is a
statutory law.
Divisions - ANSWER each book that contains Maryland law is called Article, each article is divided into
chapter-like titles.
Real Estate brokerage - ANSWER governed both by statutory law and administrative law and it is found in
Code of Maryland Regulations (COMAR). COMAR is administrative law and it contains regulations
adopted by all 18 of Maryland's licensing boards.
Maryland Real Estate Commission - ANSWER regulations governing the practice of real estate brokerage
are enacted and enforced by this commission. which is also a body within the executive branch of
government. the regulations are administrative law and it implements the brokers act.
Common law - ANSWER unwritten law, it is not written by a legislative body; it is found in numerous
volumes of decisions from courts of appeal. use for difficult case when the law doesn't really apply. the
judges by discussion make a decision.
consideration - ANSWER compensation for brokerage services.
Considerations - ANSWER for consideration and for another person - selling, buying, exchanging, or
leasing any real estate or collecting rent for its use.
for consideration, assisting another person to locate or obtain for purchase or lease any residential real
estate.
engaging regularly in a business of dealing in real estate or leases or options on real estate.
engaging in a business, the primary purpose of which is promoting the sale of real estate through a
listing in a publication issued primarily for promotion of real estate sales.
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