What's in a Contract?
A real estate broker uses earnest money placed in the company account to pay the brokerage's office rent, using escrow money for this purpose is?
What is illegal?
This is a device in which one person transfers ownership property to someone else to hold or manage for the benefit of a third party (Beneficiary)
What is Trust?
Sales Assoicates are paid in a lump sum and who are personally responsible for paying their own taxes.
What is an Independent Contractor?
Personal property can be called
What is personalty?
These duties are owed only to a client
What is fiduciary duties?
I'd Like to buy your house. The owner says, Sure, and they agree on a price. This is what kind of contract
What is Unenforceable?
Spouse each have equal undivided interest in the property
What is Tenants by entirety?
Real Estate Broker was responsible for a chain of events that resulted in a sale of a clients property
What is Procuring Cause?
DEEPC - acronym
What is the bundle of legal rights?
Agent represents two principals in the same transaction
What is dual agency?
The period after a real estate sales contract is signed, but before title actually passes
What is Executory?
This is the difference in Tenancy in common and Joint tenancy
What is Right of Survivorship?
The Amount of commission paid to a sales associate is considered
What is negotiable?
Legal tests for fixture
What is Method of attachment
Adaptability
Relationship
intent
Agreement
Agency relationship between a real estate seller and broker is created by a written employment contract called
What is a listing agreement or exclusive right to sell?
Statue of frauds require all contracts for the sale of real estate
What is in writing?
Parcel of property was purchased by 2 friends, the deed received from the seller at closing transferred the property without stipulating a form of ownership The two friends took title as
What is Tenants in common?
Sellers, buyers, Property managers create relationship with
What is the Brokerage?
Trade fixtures are associated with
What is a business?
A real estate sales associate usually is this kind of agent of the employing broker
what is a general agent?
Client James is suffering from mental illness that causes delusions, hallucinations, and loss of memory, he signed a contract to purchase a home The contract is
What is Voidable?
A man owns 1 of 20 units in a fee simple, along with 5% ownership share in the parking facilities, rec center, pool, and grounds. What kind of property does he own
What is a Condominium?
agreements to sell one product only if the buyer purchases another product as well
What is Tie in agreements?
Economic Characteristics of Land include Scarcity, Improvements, Permanence of the investment
What is area preference?
Mandatory agency disclosure required to provide to customers and clients
What is South Carolina disclosure of brokerage relationships