Martinndungu1986

A C.L.U.E. report advises a customer on: - up to seven years of claims history on a property A licensee is liable for a misrepresentation or concealment of a material fact made by a party to a real estate transaction in which of these circumstances? - The licensee knew of the concealment or misrepresentation and failed to disclose their knowledge of it. The licensee was relying on a non-expert third party's representation without confirming or attempting to confirm The licensee did not kn...

A C.L.U.E. report advises a customer on: - up to seven years of claims history on a property A licensee is liable for a misrepresentation or concealment of a material fact made by a party to a real estate transaction in which of these circumstances? - The licensee knew of the concealment or misrepresentation and failed to disclose their knowledge of it. The licensee was relying on a non-expert third party's representation without confirming or attempting to confirm The licensee did not kn...

__________ is defined as taking advantage of the lack of knowledge, ability, experience, or capacity of the consumer to a grossly unfair degree. - Unconscionable action __________ refers to the duty to put your client's best interests first. - -Loyalty A __________ exists indefinitely, has centralized management in a board of directors, and its corporate stocks are freely transferred. - corporation A mistake that does not question the honesty, competence, or diligence of a person and does ...

Allodial System - The system of land ownership where anyone can privately own land. Appraisal - The business of providing a professional opinion of the value of real property BOMA - Building Owners and Managers Association Brokerage - The aspect of real estate that pertains to overseeing the needs of parties and completing a transaction CC&R - Conditions, covenants, and restrictions CCIM - Certified Commercial Investment Member (Gold Standard for commercial real estate) CLUE - Comprehensi...

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. - Limited Liability Company (LLC) A category of real property created as a result of combining the land and its improvements for a single highest and best use. - Special Purpose Property A claim against a property that provides security for the repayment of a debt or an obligation of the property owner. - Lien A claim, charge, or liability that a...

________________ of the Commission members are brokers. A. Two B. Three C. Six D. Seven - C _________________ of the Commission members represent the public. A. Two B. Three C. Six D. Nine - B ___________________________ is a form of ownership between married couples that is based upon Spanish law. A. partition B. joint tenancy C. community property D. estate in severalty E. tenancy in common - C ___________________________ is the division of property owned by two or more indivi...

10 - A respondent of HUD fair housing complaint has how many days to submit a response? 13 - The Texas real estate broker lawyer committee consists of how many members? 1974 - The equal credit opportunity act was enacted in? 1974 - The housing and community development act was enacted in? 1977 - The community reinvestment act was passed in? 2 years - TREC may renew a real estate license for no more than? 20.00 - If the replacement cost of an item with a 5 year life span is 100.00, and it i...

1988, the Fair Housing Amendments Act did what? - added handicap and familial status. A commission member would be removed from office under what conditions? - • Does not have the required qualifications at the time of appointment • Does not maintain the required qualifications during service on the commission • Is ineligible for membership • Cannot discharge the member's duties for a substantial part of the member's term • Is absent from more than half of the regularly schedul...

"Time is of the essence" - A condition of a contract expressing the essential nature of performance of the contract by a party in a specified period of time. Acre - Equal to 43,560 sq. ft. or 160 rods Agent - A person authorized to act on behalf of another. Air Rights - The rights in real property to the reasonable use of the air space above the surface of the land. Americans with Disaabilities Act (ADA) - A federal law protecting the rights of individuals with physical or mental impair...

"disparate impact", in legal terms, essentially means which of the following? - A set of criteria which are not directly targeted at a specific group but will disproportionality affect that group. "modifications" in real estate terms are also referred to as which of these? - improvements "procuring cause" awards the real estate sales commission to the agent for which of the following? - the most direct influence on the transaction being completed. A "net listing" is a listing agreem...