Ky real estate stuvia - Study guides, Class notes & Summaries

An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or the time when circumstances would reasonably have put the aggrieved party on notice of the cause of action? - Answer 2 Years The Kentucky Real Estate Commission is responsible for what? - Answer Protecting the public interest through regulations, examinations and licensing of KY real estate licensees. Broker - An...

What do Datums and Benchmarks measure? - Answer Elevation Joint Tenancy - Answer 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? - Answer Issued by title insurance companies - gives buyers an overview of title history and any liens/encumbrances - it outlines what insuranc...

Beginning - Answer Advertisements that include an audiovisual presentation need to include an audible announcement or written display of the required content at the ____________ of the advertisement Inactive License - Answer "Escrow" was replaced by this term when describing the status of a license in holding Amount of continuing education requited w/in 2 year period - Answer 12 hours 75% - Answer Score an applicant must get to become licensed Suspended status of license - Answer d...

Acceleration Clause - Answer Upon default all of the principal installments come due immediately Accession - Answer The idea that the owner of land is entitled to all that the soil produces or all that is added to the land either intentionally or by mistake Accretion - Answer land accumulated by gradual washing or motion of water. Accrued - Answer accumulation Acknowledgment - Answer A formal declaration made by the grantor conveying the property to the grantee. necessary for a valid...

Accretion -ANSWERS Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant -ANSWERS Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License -ANSWERS License to act as intermediary on behalf of others for a commission. Bringing together of parties interested in making a real es...

Accretion - ANSWER-Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - ANSWER-Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License - ANSWER-License to act as intermediary on behalf of others for a commission. Bringing together of parties interested in making a real es...

The Kentucky Real Estate Commission determined that a buyer was damaged by the fraudulent action of a licensee in the amount of $50,000. If the responsible licensee does not pay the claim, the Commission may pay out from the Real Estate Education, Research, and Recovery Fund a MAXIMUM amount of: - Answer $20,000 An action for recovery from the Kentucky Real Estate Education, Research, and Recovery Fund MUST be commenced within how many years from actual knowledge of the cause of action or the...

Kentucky Real Estate Mock Test 1 Practice Questions and Answers 100% Pass If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - ANSWER-Have been licensed for 2 years averaging 20 hours per week in the business. Which of the following is NOT true regarding a sale-leaseback? - ANSWER-The ownership of the property never transfers. Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called:...

KY 96-Hour Salesperson Pre-License State Exams Practice Questions and Answers Which of the following benefits does errors and omissions insurance provide Kentucky licensees? - ANSWER-Provides coverage for licensees who make inadvertent mistakes You're representing a buyer, Stan, in a Kentucky residential transaction. Stan is interested in a property on a quiet residential street, so you ask the listing agent for a copy of the Seller's Disclosure of Property Conditions form. The agent...

KY Real Estate Exam Study Guide Solutions Accretion - ANSWER-Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - ANSWER-Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License - ANSWER-License to act as intermediary on behalf of others for a commission. Bringing toget...