Tennessee law real estate - Study guides, Class notes & Summaries

Tennessee Timeshare Practice Exam Questions with Verified Solutions Timeshare units can be created: in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: Date of sale To be valid, a Public Offering Statement must be: signed and dated Disclosure of Recession of Rights must appear in bold face print in the: contract and public offering statement Escrow account for timeshare sale shall not be held by: the developer Who is ultimately re...

What action should the seller take when an offer is rejected? Make a formal counter offer. Complete a contract rider. Complete an addendum. Note the rejection on the offer. - Note the rejection on the offer. Which of the following requires a written contract? The purchase of a TV for $378.00 A real estate lease for a term less than one year A real estate lease for a term longer than one year A potential buyer visiting an open house showing - A real estate lease for a term longer than on...

Tennessee Real Estate Commission (TREC) the judicial body of real estate industry in the state of Tennessee Following discriminatory practice, you should make a complaint within _____ days. 180 time share estate an estate in real property acquisition agent person who solicits people to attend a presentation exchange agent exchange programs like RCI or Interval International purchaser anyone who buys a time share sales agent anyone who sells a time...

Tennessee Timeshare Pre-Licensing Study Guide 2024 with complete solution TREC 1 FORM - answerthe form by which nearly all business with the commission is conducted after you become licensed. Transfer to new firm fee - answer$25 Change of status to RETIRED status fee - answer$25 Change of status to ACTIVE status fee - answer$25 Change of licensee name fee - answer$10 Change your address fee - answerNO CHARGE Change of firm name fee - answer$10 per form-one form per licensee Change of f...

Affiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan? Aidan has no responsibility for Oscar's violations. Aidan will only be held responsible for the violation of the Tennessee Human Rights Act. Aidan may be disciplined for failure to exerc...

Tennessee Timeshare Pre-Licensing Study Guide TREC 1 FORM the form by which nearly all business with the commission is conducted after you become licensed. Transfer to new firm fee $25 Change of status to RETIRED status fee $25 Change of status to ACTIVE status fee $25 Change of licensee name fee $10 Change your address fee NO CHARGE Change of firm name fee $10 per form-one form per licensee Change of firm address fee $50 Broker Change fee $25 What is the Tennessee Real Esta...

Regulatory Powers Enable the agency to pass specific regulations and rules to support the administration of the license law Judicial Powers Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Administrative Powers Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Mission of the Tennessee Real Estate Commission Protect the public ...

Tennessee License Law Enforcement Overview with Complete Solutions TREC may impose a civil penalty on unlicensed persons of up to what amount per violation per day? A) $3,000. B) $1,000. C) $4,000. D) $2,000. B) $1,000. Regarding E&O coverage for the firm, A) the minimum coverage must be at least $1,000,000. B) the amount of coverage is determined by the number of affiliated licensees. C) E&O coverage is not required, but bonding is. D) E&O coverage is not required. D) E&O co...

coordinate inspections and deliver documents and escrow monies to the appropriate attorney correct answers a broker or affiliate broker may perform all of the following in preparation for the closing EXCEPT may conduct the closing correct answers a broker decides he wants to conduct the closing on a all-cash sales of a property between his clients, the seller, and the buyer, his customer. with these parties, the broker receive up to $50K from the real estate education and recovery account ...

Final Exam TN Real Estate Course Questions and Answers with Verified Solutions A Tennessee licensee must use the "Exclusive Right to Sell" form - Answer ️️ -required by the licensee's broker. According to the level of authority delegated to the agent, the usual real estate agency is a - Answer ️️ -limited agency. When must the contract be in writing? - Answer ️️ -John is agreeing to sell his shed to Shawn for $1,000. One disadvantage in using active listings for comparable...