Oklahoma real estate - Study guides, Class notes & Summaries

PSI Oklahoma Real Estate Practice Test Questions and Answers 100% Pass MOST closed real estate transactions should be reported to the IRS. REQUIRED information includes seller name(s) and social security number(s) and the sale price An owner hired a construction company to build a swimming pool at a new home. The owner failed to pay the bill once the work was completed and the construction company filed a lien to obtain payment of the debt. The encumbrance created is called a mechanic...

"The present worth of future benefits arising from the ownership of real property," is the definition of - Value "Without both parties' written consent, The broker is prohibited from representing both the seller and the buyer in the same transaction," defines: - Dual Agency A and B signed a contract that was based on illegal consideration, this contract is - Void A asked you to appraise their property. The property had no monthly income and had no comparable in the market. You would m...

actual authority - Answer Authority given an agent either expressly or impliedly by a principal actual delivery - Answer transferring a deed from the grantor to the grantee by handing the deed to the grantee or sending it by certified mail. actual notice - Answer the express or direct knowledge acquired in the course of a transaction.

A SINGLE PARENT WITH AN INFANT CHILD - Answer UNDER FEDERAL FAIR HOUSING ACT REQUIREMENTS A PROPERTY MANAGER OF A RESIDENTIAL MULTI-UNIT PROPERTY MAY LEGALLY REFUSE TO APPROVE RENTING A UNIT IN A PROPERTY EXCLUSIVELY OCCUPIED BY PERSONS OVER 65 TO OFFICE SPACE RENT AND TELEPHONE - Answer WHAT TYPE OF EXPENSES WILL A FIRM MOST LIKELY BE RESPONSIBLE FOR PAYING FOR A NEWLY LICENSED SALES PERSON WHO HAS CONTRACTED TO WORK FOR A BROKER OF THE FIRM

Tenancy in severalty - Answer sole ownership of a freehold estate CO-OWNERSHIP - Answer ownership by two or more owners Tenancy in common - Answer -co-tenants enjoy an individually owned, undivided interest; any ownership share possible; no survivorship Joint tenancy - Answer equal, undivided interest jointly owned by two or more parties, with survivorship; requires four unities to create: time, title, interest, possession; joint tenants can sell their interest, but the interest becomes a ...

What is a hearing examiner - Answer Has the power and authority to conduct hearing in the name of the commision Where can hearings take place - Answer any time or place Who has the burden of proof in a hearing - Answer Shall be upon the moving party Who may engage in real estate activities - Answer licensed agents

How much does the OREC earn while serving in an OREC capacity - Answer Travel expenses essential to performing the duties to his office What are the OREC Leadership positions - Answer Chairman, Vice chairman, secretary- treasurer, What is the OREC revolving fund - Answer Consist of all monies received by the OREC How often in the revolving fund audited and by whom? - Answer once a year and by the state auditor and inspector

Oklahoma Real Estate Test Study Questions And 100% Correct Answers A+ Graded...

PSI Real Estate Exam (MD State Portion) Latest 2023 Graded A+ Real Estate brokerage is govern by: 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant En...

Oklahoma Real Estate Exam Questions And Complete Solutions