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Commingling is the mixing of client’s monies with those of other clients or the agent. This is in contrast to conversion, which is the use of client funds by the agent or their office for their own use.
A surrender occurs due to the cancellation of the lease agreement by
the mutual consent of the landlord and the tenant.
If a licensee’s name is on a list of obligors who have not complied with a court-ordered payment of child support, the licensee’s renewal application will
renew as a temporary license, but the debt must be paid within 150 days.
Sexual discrimination in housing is outlawed in sales and rentals under the
Civil Rights Act of 1968.
A verbal agreement to sell real estate is enforceable when
the buyer makes a down payment, takes possession and improves the property.
An unlicensed assistant in a real estate office cannot
discuss the price and term of a transaction with a principal.
If a seller refuses to fill out their section of the Transfer Disclosure Statement (TDS), the seller’s agent is advised to
complete the listing agent’s portion of the TDS and deliver it to the buyer without the seller completing their section of the form.
Most real estate records need to be kept for a period of three years, commencing from the date that a property is first listed or the date
A salesperson’s commission is paid by
A public walkway within a condominium community
exists in a common area.
Which of the following conditions would not cause a building to be declared uninhabitable?
Electrical wiring that is safe and working properly but does not comply with present building codes.
The purpose of a (n)
____, like an easement and a lease, is to grant the right to use property owned by another person.
Roland, a broker, arranges a sale and opens escrow. Before escrow closes, his license is revoked by the Department of Real Estate (DRE). What happens to Roland’s commission?
Roland gets his commission.
It is appropriate for real property managers to be compensated in all of the following ways, except
receiving kickbacks from contractors and suppliers.
The Uniform Commercial Code, which pertains to a bulk sale transfer, exists primarily for the protection of
A prohibition against a “For Sale” sign in a residential neighborhood
violates the First Amendment.