Condos - Study guides, Class notes & Summaries

2 types of insurance required under condo corp property act - Liability, and insurance against perils AGM - must be held within 15 months of last. next board is elected, must give 2 weeks notice and provide, Financial statements for previous year, annual report of reserve fund, annual next year Audits - ensure that the financial statements are reasonably accurate representation of the condo corps financial position bare land condo plans - units are parcels of land, the boundaries are def...

1 year - If you don't renew your registration how long is it before you have to get a new criminal record check 10 - How many days does a condo management company have to provide a copy of management agreement upon receiving written request 10,000 for individual 100,000 for business - Max fines from PIPA if convicted of an offence 180 days - Builder has how many days to go to court to register a certificate of lis pendens 1st degree relative - A spouse, or children ate considered what de...

Law of Contracts Practice Exam Champions 100% QUESTIONS AND ANSWERS GRADED A+ Law of Contracts Practice Exam Champions (100% Correct) In ______the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 - CORRECT ANSWER-c. 1949 TREC has only _______ promulgated lease forms. a. 1 b. 2 c. 3 d. 4 - CORRECT ANSWER-b. 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is ...

CAM 2024 Exam Questions with 100% Correct Answers 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANSWERSB. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corp...

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANSWER B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the righ...

After an investigation by the DPOR, what comes next in the complaint process? a. A hearing is held. b.. A meeting is held between the parties involved to determine the facts of the matter. c. Interviews with witnesses and statements are obtained. d. Interviews with witnesses and statements are obtained. correct answersb.. A meeting is held between the parties involved to determine the facts of the matter. Which of the following does Virginia's Condominium Act NOT do? a. Establ...

Article 12A: NYS Real Property Law "Real Estate License Law" - violation is a misdemeanor punishable by loss of license, $1000 fine, revoking of license - all salespersons have license suspended - after 1 year broker can apply to get license back Capital Gains Tax Exemption -profit from sale that is taxed - single person has first $250,000 tax free - married couple $500,000 tax free Property Condition Disclosure Statement - 6 page statement seller must fill out on condition of property...

FL CAM License Exam Questions and Answers 100% Correct FL CAM License Exam Questions and Answers 100% Correct FL CAM License Exam Questions and Answers 100% Correct1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - ANSWER-B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undi...

FL CAM License Exam Questions And Correct nswers, Fall 2023. Complete Verified Solution. 1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association....

1. Condominium form of ownership is comprised of units owned by one or more persons and joint ownership of ________ share in the common elements. A. a percentage B. an undivided C. a proportional D. a complete - B. an undivided Condominium means individual ownership of a unit coupled with joint ownership of an undivided share of the common elements as well as mandatory membership in the association. 2. Under the General Corporate Law _______, community associations have the right to buy,...