Maine real estate 1 6 - Study guides, Class notes & Summaries

Maine Real Estate License Practice Exam part 265 Marsha and Paula both work for Undertow Realty in Castine. The Designated Broker has decided to practice appointed agency at Undertow Realty. Marsha is the appointed agent to the seller at 68 Puffin Lane. Paula is appointed to the buyers. Which of the following statements is true? a. Marsha and Paula both work for Undertow Realty, therefore they are in dual agency and must disclose that fact, in writing to both the seller and the buyers. b. O...

Maine - Real Estate Exam Prep | 242 questions and answers 2023/24 Fixture - An object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - Beneficial attachments to raw land that increase its value or improve its usefulness. Meridians - Imaginary north-south lines which intersect base line...

Maine Real Estate Sales Agent Course - Chapter 1What does the MREC stand for ? - correct answer Maine Real Estate Commission When was the MREC established and by what act? - correct answer Act of Maine Legislature in 1937 What is the policy/mission of the MREC? - correct answer supervise licensees "in a manner to ensure that they meet standards which will promote public understanding and confidence in the business of real estate brockerage" What are the six tools the MREC uses to supe...

Maine Real Estate 1 - 6Fred wants to put an addition on his hunting camp located in an unorganized township in Maine. He must apply to ________ fora building permit - correct answer (LUPC) Land Use Planning Committee An employer is responsible for directing a(n)______________as to both what is to be done and how it is to be done. - correct answer Employee Real estate licensees are almost always___________ ______________with their company;they sign an Independent Contractor Agreement - corr...

Maine Real Estate - 7-15The right to use the land of another but not to possess it is called - correct answer Non-Possessory Rights An easement that involves two parcels of land is called an - correct answer Appurtenant Easement. The land that benefits from an appurtenant easement is the - correct answer Dominant Estate or Tenement. The land that provides the rights of the appurtenant easement to the dominant estate is the: - correct answer Servient Estate or Tenement. An easement th...

Maine Law Real Estate TRELG Exam Questions With Correct Answers Graded A+ True or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False A. True When must a client give consent to disclosed dual agency? A. At the time the client signs a listing agreement or buyer representation agreement w...

Maine - Real Estate Exam Prep Study Guide with Complete Solutions Fixture - Answer️️ -An object that has been attached to land so as to become real estate. An article of personal property which has been installed in or attached to land or a building thereon, in such a manner that it is now considered to be a part of the real estate. Improvements - Answer️️ -Beneficial attachments to raw land that increase its value or improve its usefulness. Meridians - Answer️️ -Imaginary n...

Maine Real Estate Q&A 100% SOLUTION County Registry of Deeds - ANSWER Sources of information for Deeds, Easements, Leins, plats for subdivision, mortgages and discharges. City/Town Hall - ANSWER Sources of information for property tax information including exemptions, property card with assesors information, building permits, zoning, septic permits, code enforcement records Carryover clause - ANSWER Allows the broker to collect a commission for 6 months after the listing expires. ...

Maine Real Estate MATH SECTION EXAM CORRECTLY SOLVED 2024.XYZ Realty policy manual shows the following compensation structure: Commission rate charged - 6% to XYZ Realty; 50% to the listing agent. If sold by another company, the commission is split equally. An agent from ABC Realty secured the buyer. Her company policy is, that as the selling agent, she will be paid 40% of her broker's share. If the sales price of the house was $395,000, how much does each party receive? - correct answer $395,0...

Maine Law Real Estate TRELG Exam Questions With Correct Answers Graded A+ True or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False A. True When must a client give consent to disclosed dual agency? A. At the time the client signs a listing agreement or buyer representation agreement w...