Kentucky real esta - Study guides, Class notes & Summaries

Jerry and Simon signed a contract so that Jerry could purchase all of Simon's restaurant equipment for one price after Simon closes his restaurant next month. The contract contains a provision that states Jerry has one year from the purchase date to file a suit relative to the purchase. After the year is up, Jerry forfeits the right. What kind of contract clause is this? A. Specific time B. Statute of limitations C. Time is of the essence D. Time of performance - Statute Of Limitations ...

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If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - 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? - 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: - Littoral rights Which of the following is NOT a duty of the real estate agent: - To acce...

A person issued an initial salesperson's license must complete A) the 24-hour postlicense course by December 31 of the first renewal period. B) a 48-hour postlicense course within one year of receiving the initial license. C) a 24-hour postlicense course within the first two renewal cycles after the initial license. D) a 48-hour postlicense course within two years of receiving the initial license. - D) a 48-hour postlicense course within two years of receiving the initial license. A b...

There can be no more than _____ members of any political party serving on the Commission at one time. four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above a return of paid commissions The Commission has the ability to conduct a(n) ___________ when alleged escrow actions warrant emergency action. -trial -dispute -investigation -emergency hearing emergency hearing The seller's disclosure form must be completed at the...

There can be no more than _____ members of any political party serving on the Commission at one time. - four A rebate could be: - a TV -A gift certificate - a return of paid commissions -none of the above - a return of paid commissions The Commission has the ability to conduct a(n) ___________ when alleged escrow actions warrant emergency action. -trial -dispute -investigation -emergency hearing - emergency hearing The seller's disclosure form must be completed - at the time of the...

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Kentucky Real Estate Practice Exam With 100% Correct Answers 2023