Wv real estate - Study guides, Class notes & Summaries

WV Real Estate License Law Latest Version Graded A+ 30-40-1 laws are created to protect the public for the common good 30-40-3 a license is required to be a real estate broker, associate broker or salesperson 30-40-4 definitions Applicant any person making application for a license Associate Broker a broker that works under the supervision of another licensed broker, must have 2 years of experience with adequate experience, must take another 90 hr course, must pass the state ...

What are the types of fee simple estates? - correct answer Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute - correct answer The best type of ownership you can get. Fee Simple Defeasible - correct answer Subject to occurrences or non occurrences of specified time. Two types of fee simple defeasible? - correct answer Fee simple determinable 2 Condition subsequent Fee Simple Defeasible - correct answer Will include: so long as, while, during and includes the term rever...

The purpose of the West Virginia License Act is to --- limit competition in the real estate industry. protect the public in real estate transactions. regulate the limit for brokerage compensation. impose license fees to generate income. protect the public in real estate transactions. Jim acquires a West Virginia broker license. He wants to sell real estate without opening a business so he decides to remain at his salespersons desk on the sales floor at Acme Realty. Jims license status...

WV REAL ESTATE EXAM 2024/2025

What are the types of fee simple estates? Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute The best type of ownership you can get. Fee Simple Defeasible Subject to occurrences or non occurrences of specified time. Two types of fee simple defeasible? Fee simple determinable 2 Condition subsequent Fee Simple Defeasible Will include: so long as, while, during and includes the term reverter. Reverter Former owner can take back land with no legal action if land isn't used c...

WV Real Estate FINAL EXAMThe purpose of the West Virginia License Act is to --- limit competition in the real estate industry. protect the public in real estate transactions. regulate the limit for brokerage compensation. impose license fees to generate income. - correct answer protect the public in real estate transactions. Jim acquires a West Virginia broker license. He wants to sell real estate without opening a business so he decides to remain at his salespersons desk on the ...

What are the types of fee simple estates? - Fee Simple Absolute Fee Simple Defeasable Fee Simple Absolute - The best type of ownership you can get. Fee Simple Defeasible - Subject to occurrences or non occurrences of specified time. Two types of fee simple defeasible? - Fee simple determinable 2 Condition subsequent Fee Simple Defeasible - Will include: so long as, while, during and includes the term reverter. Reverter - Former owner can take back land with no legal action if ...

WV Real Estate FINAL EXAM2024 QUIZ WITH VERIFIED ANSWERS | LATEST 2024/2025

WV Real Estate License Law Red Book - - WV Code 30-40 & Title 174 Rated A+ Laws in WV Code 30-40 are to: Protect the public, for the common good The only people a broker can share the commission with. Another licensed broker or salespeople The number of brokers a salesperson can work for. One The first thing that should happen if a broker loses their license. Stop selling real estate If you move trust fund money from one bank to another you must notify the commission within how...