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

How long must real estate documents be kept? - ANSWER-6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - ANSWER-Principal broker When should the principal broker review brokers documents? - ANSWER-7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? - ANSWER-3 years everything else regarding business for 6 years Whe...

Oregon Real Estate Exam (PSI) Questions with Verified Answers | Latest 2023/2024 How many consecutive years of non-use of water does one lose their water rights in Oregon? ️ 5 consecutive years, the right is considered forfeited Who must register the business name? ️ Principal Broker, must register the business name with REA-(Real Estate Agency) under their name. How long must real estate documents be kept? ️ 6 years, from the date the transaction was accepted, rejected, or withdrawn...

Test 1: Oregon Real Estate License Law with Complete SolutionsTest 1: Oregon Real Estate License Law with Complete SolutionsTest 1: Oregon Real Estate License Law with Complete Solutions A branch office registration is necessary to use a model unit, available for sale, in a subdivision for promotion of interest in the development. temporary structure for dissemination of information. I only II only Both I and II Neither I nor II - ANSWER-Neither I nor II Which of the following categ...

Do you need a real estate license to sell a mobile home on a rented space? - correct answer -No! Does the real estate agent with a lapsed license need to have an active license when lease-optioning personally-owned real estate? - correct answer -No - but they must do all other duties as if they WERE being supervised, IE keep finacial records, hold funds in neutral escrow, etc. Which situation requires a property manager to comply with license law and administrative rules? rental or lease-o...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - Answer-Neither A nor B A broker associated with a principal real estate broker was asked by a property owner to prepare a competitive market analysis for the owner's residence. Under Oregon law, which of the following statements about a competitive market analysis are true? - Answer-A...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - ANSWER Neither A nor B A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - ANSWER Verify the accuracy of listing information supplied by a broker by checking the records...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - Answer Neither A nor B A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - Answer Verify the accuracy of listing information supplied by a broker by checking the rec...

A branch office registration is necessary to use a model unit, available for sale, in a subdivision for promotion of interest in the development. temporary structure for dissemination of information. I only II only Both I and II Neither I nor II - correct answerNeither I nor II Which of the following categories of licensees, without charging a fee, could legally offer a seller an estimate of the sales price of the seller's property for the purpose of obtaining a listing? Real estate ...

A branch office registration is necessary to use a: A. model unit, available for sale, in a subdivision for promotion of interest in the development. B. temporary structure for dissemination of information. - ANSWER Neither A nor B A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? - ANSWER Verify the accuracy of listing information supplied by a broker by checking the records...

2 types of property ownership correct answers personal property real property boundaries within a parcel and one of the basic components of real property correct answers land land and anything permanently affixed to the land (fixtures) correct answers real estate includes land, fixtures attached to the land, rights and privileges associated with the land, and any appurtenance (attached right or property) associated with the land correct answers real property include: air rights ...