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Chapter 22 Conclusion

admin 2019.03.27 00:15 Views : 197

Chapter 22 Conclusion

This concludes Chapter 22. Below is a brief summary which you can review before you take your chapter quiz. 

Real estate brokerage involves the agency that is directed primarily toward the sale or managing of real property, FOR COMPENSATION.

A notary must be certain that the person personally appears and provides acceptable forms of identification. A notary public's journal include the right thumb print of a person signing a deed affecting real property. 

A real estate licensee must ALWAYS disclose to her principal any material fact the agent knows which will affect the principal's decisions in a transaction. 

A mobile home park with five or more lots for sale or lease is legally considered a subdivision.

To convert a mobile home into REAL PROPERTY:

  1. The mobile homeowner must obtain a building permit and a Certificate of Occupancy.
  2. The mobile home must be placed on a permanent foundation;
  3. A document stating that the mobile home has been attached to a permanent foundation must be RECORDED.

Legal requirements for mobile homes:

  1. Real estate licensees may sell USED (never NEW) mobile homes ifthese homes have already been registered and are on a lot or park.
  2. The mobile home MUST BE capable of being transported over a road.
  3. A notification must be made within 10 days of the sale date. Mobile homeowners must pay an In Lieu Tax

Real estate licensees may have their licenses suspended or revoked when not providing the property certificate of ownership of a mobile home; and other illegal acts.

A mobile home park landlord may terminate the tenant if the tenant doesn’t comply with state laws/mobile home park’s rules and regulations.

Mineral, oil, and gas subdivisions are those created for the sale, lease, or financing of 5 or more speculative parcels of land for mineral, oil, or gas purposes. A real estate licensee does not need a specialized license to work with MOG transactions.

real estate broker is considered a principal when:

  1. Buying/leasing mineral, oil or gas property for the purpose of exchange of a lease of the property;
  2. Offering mining claims, or any interest, for sale or assignment.
No. Subject Author Date Views
100 TEST 27 admin 2019.03.27 441
99 Chapter 27 Conclusion admin 2019.03.27 229
98 TEST 26 admin 2019.03.27 235
97 Chapter 26 Conclusion admin 2019.03.27 164
96 TEST 25 admin 2019.03.27 275
95 Chapter 25 Conclusion admin 2019.03.27 338
94 TEST 24 admin 2019.03.27 284
93 Chapter 24 Conclusion admin 2019.03.27 182
92 TEST 23 admin 2019.03.27 147
91 Chapter 23 Conclusion admin 2019.03.27 137
90 TEST 22 admin 2019.03.27 285
» Chapter 22 Conclusion admin 2019.03.27 197
88 TEST 21 admin 2019.03.25 292
87 Chapter 21 Conclusion admin 2019.03.25 222
86 TEST 20 admin 2019.03.25 219
85 Chapter 20 Conclusion admin 2019.03.25 157
84 TEST 19 admin 2019.03.25 321
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82 TEST 18 admin 2019.03.23 672
81 Chapter 18 Conclusion admin 2019.03.23 249