New mexico re - Study guides, Class notes & Summaries

Which of the following REQUIRES a real estate license? A. Sale of 20 lots in a subdivision by an employee B. Three-week rental of a condominium C. Sale of time-share units D. Sale of more than 20 personally owned properties : C. Sale of time-share units The New Mexico Real Estate Commission may NOT impose A. licensing requirements B. penalties for Code of Ethics violations C. disciplinary penalties D. a recovery fund assessment : B. penalties for Code of Ethics violations The respons...

A broker is performing as a property manager and deposits rent into her operating account. This is an example of which of the following? : The answer is COMMINGLING. Mixing a broker's money with a client's money is commingling (and illegal). A lessee has the greatest protection with a(n) : The answer is ESTATE FOR YEARS. An estate for years locks the holder into the lease for a specific period of time, which cannot be terminated without cause, even if the property is sold. A broker...

New Mexico RE Principles and Practice Questions and Answers Land value plus current construction costs minus depreciation - Correct Answer ️️ - Cost Approach He can refuse to rent to the tenant because of the history of violence. - Correct Answer ️️ -A landlord discovered that a potential tenant who applied for a unit has a history of alcoholism and violence. What should the landlord do? A person has AIDS - Correct Answer ️️ -Under FHA, It is illegal to discriminate if A judg...

Land value plus current construction costs minus depreciation : Cost Approach He can refuse to rent to the tenant because of the history of violence. : A landlord discovered that a potential tenant who applied for a unit has a history of alcoholism and violence. What should the landlord do? A person has AIDS : Under FHA, It is illegal to discriminate if A judgement against a borrower if the foreclosure sale does not bring enough to pay the balance owed : Deficiency Judgment Is used w...

New Mexico Real Estate Exam Questions and Answers Graded A+ The commission shall be appointed by? The governor. The three functions of the commission are? Licensing, Education, Enforcement. (LEE) The commission has how many members? five members, four members must be licensed and one member must be nonlicensed. Not more than one member can be from the same county. Who is exempt from obtaining a license Subdivisions holding less than 99 parcels, time- share sales persons with 15% o...

New Mexico Real Estate Broker Exam Questions And Answers With Latest Solutions New Mexico Real Estate Broker Exam Questions And Answers With Latest Solutions

New Mexico Real Estate Questions and Answers Graded A+ General Warranty Deed Deed containing full warranty of title, Offers greatest protection Nonconforming use Existing use that doesn't meet current zoning standards metes and bounds a method of describing real estate, using boundary lines with terminal points and angles Warranty Deed Has the most covenants executory contract A contract that has not as yet been fully performed. Constructive Eviction A landlord allows a bu...

new mexico real estate comission exam with verified solutions.

New Mexico Real Estate Broker Basics | Questions And Answers With Verified Study Solutions New Mexico Real Estate Broker Basics | Questions And Answers With Verified Study Solutions