According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $92, and $76 per square foot for the garage. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. A sales associate receives a deposit from a buyer on Wednesday morning. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Residential leases are usually gross leases. The site is secure. (page 219). And some rules can even vary within a state. Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. C) Limited partners are personally liable for the debts of the partnership. End of Pre-License Course Exam Questions - RealEstateExamAnswers.com 2003-2023 Chegg Inc. All rights reserved. C) tenants and buyers of all residential property built before 1978. How must the broker as agent handle the security deposits and advance rent? Why do many second-generation Korean-American mothers, who often have negative memories of growing up under strict, intensive, achievement-oriented "tiger mothering"a term popularized by Amy Chua's bestselling Battle Hymn of the Tiger Mother (Chua 2011)reproduce certain aspects of this parenting style in raising their own children? (EDGAR Online via COMTEX) -- false 0001564406 0001564406 2023-02-08 2023-02-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM. Servicing disclosure statement. A parcel of real estate has been left to the wife through her husband's will for the widow's use and enjoyment during her lifetime, with the provision the property goes to the widow's stepson at her death. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. Restrictions on telemarketing to Florida residents are about to get tighter. statement is TRUE. On June 29, - stradanove.net A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. A) Limited partners must register with the FREC under the limited partnership name. Federal Register :: Telemarketing Sales Rule Mass, direct, telemarketing, e-marketing, social media, billboards Personal selling: sales representatives directed to a customer in attempt to make a sale Can be modified, individualised, after-sales customer service Relationship marketing: development of long-term and cost-effective relationships with customers The landlord pays the property taxes, hazard insurance, and maintenance expenses. A real estate licensee purchased a home from the seller. How must the broker as agent handle the security deposits and advance rent? Includes: Unit Exam 2 Flashcards | Quizlet Which statement is TRUE regarding this situation? C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). What was the approximate yield on the loan? 501.601 through 501.626 and Florida's do-not-call law at Fla. Stat. A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. The referring tenants do not hold real estate licensees. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. 5. State law (CGS 42-288a) requires DCP to establish and maintain a listing of consumers who do not wish to receive unsolicited telephone sales calls from firms offering goods or services. B) the creation of a uniform, statewide energy-efficiency rating system. The earnest money deposit normally appears on the closing statement as a. Please note that the following information is for educational purposes only, and additional laws may apply. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? A broker working in a no brokerage relationship capacity with a seller can enter into a listing agreement with that seller and be paid a commission. PDF Small Entity Compliance Guide - Federal Communications Commission An individual who repeatedly writes bad checks can be charged with. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price, The right of the state to take property of a person who died intestate and without heirs is known as. The proposed guideline revisions would state that "in procuring, suppressing, boosting, organizing, or editing consumer reviews of their products, advertisers should not take actions that have the. Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? The assessed value of an 88-year-old legally blind widow's condominium is $49,500. The street in front of your house is to be paved at a cost of $45 per foot. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. PDF United States District Court District of Massachusetts Deductions of hazard insurance expense on a principal residence. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Municipal Airport - immune properties are city, county, state and federal gov't properties - others are exempt only, which are subject to taxes, but are released from obligation, Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be in writing and signed to be enforceable. The tenant has a tenancy, Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Ann. You are appraising a four-year-old, single-family residence. The stepson's interest is that of, The process of land buildup from water-borne rock and soil is referred to as. A developer advertises homes for sale with a total down payment of $2,000. For a violation of any of the telemarketing rules in Florida Statute Section 501.059, consumers can now sue to enjoin the violation and recover actual damages or $500, whichever amount is greater. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 Which brokerage relationship is BEST suited to this couple? Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. The law applies broadly to a "telephonic sales call." "Telephonic sales call" is currently defined as "a telephone call, text message, or voicemail transmission to a consumer for the purpose of soliciting a sale of any consumer goods or services, soliciting an extension of credit for consumer goods or services, or obtaining information that will A township has 36 parcels called "sections." Five-Star Reviews Enforcement Regulations from the FTC On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. 640/4/4/2 = 20 0. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Main Menu On June 29, Gov. Calculate the developer's percentage of profit (round to nearest whole percentage point). Vacancy and collection losses. Which document must a prospective buyer of an existing (resale) condominium unit receive? Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. In the Government Survey System, the six-mile vertical strip of land that extends from the north to the south of Florida, located immediately west of the Tallahassee Principal Meridian, is called. Federally related transactions do not include transactions associated with refinancing real property. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. (2) Training of personnel engaged in telemarketing. The garage is 485 square feet. The applicant has not fulfilled the experience requirement. A commercial tenant pays a fixed rent each month. A closing is set for July 15. The term used to measure the amount of energy an electrical appliance consumes is. Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. (page 247). All national chartered commercial banks are members of which entity? Which statement is TRUE regarding the federal telemarketing law? What is the adjusted sale price of the comparable? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. 3. 640/4/4 = 40 What is the total property tax exemption on her homesteaded property? B. call Sue for up to 18 months after she purchases a property through the brokerage firm C. call Sue if she has placed a "for sale" sign in the yard How will the property taxes be entered on the closing statement? ahhhhhhh I wannnnnnaaaaaa slllleeeeeeeppppp - Chegg A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. They have created which type of estate or tenancy? Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Ohio Consumer Protection Laws The Ohio Attorney General has enforcement authority over more than 25 consumer protection laws, which are listed below with a brief overview of key protections that consumers have under the laws. Developers of 20 or more new residential units must also prepare a PROSPECTUS and file it which summarizes the major points detailed in the condo docs. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . b. Recording it in the public records shows that the mortgage lien has been removed. The land value is 20 percent of the total acquisition cost. This arrangement is. Call Us Today! Lynn is preparing a classified ad for a listed property. A) Seller and buyer both claim the earnest money deposit. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. To obtain a stay of the final order, the district court of appeals must issue a writ of supersedes to stop the enforcement pending the outcome of the appeal process A licensee who is issued a citation may be ordered to, Citations involve fines that currently range from $100 to $500 per offense and may include other assessments (ex: REQUIRE EDUCATIONAL COURSE ATTENDANCE), If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, If the licensee-respondent disputes the alleged facts noted in the complaint, the licensee-respondent's case must be heard by an administrative judge in a FORMAL HEARING, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. The seller countered at $250,000. FL law does not require that prospective buyers and seller be represented. Wattage is the measurement of the amount of energy consumed. (page 91). Monthly payments remain constant, and the interest portion comprises the majority of the payments. Florida Expands Telemarketing Laws - The National Law Review A) Demand is the desire and ability to purchase or lease goods and services B) Consumer preferences influence demand C) Changes in price cause an inverse change in demand D) The availability of building materials influences demand, The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply (page 415), Implement the comprehensive plan (page 427), Branch office of a bank is a service industry that services primarily local residents (page 425), Effective Age / Total Economic Life x Reproduction Cost New, 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Implement the comprehensive plan -local gov't exercise police power by regulating and controlling the use of land and structures within designated land-use district or zoned. A buyer offered $225,000 for a seller's property. $276,060 total. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars), The term used to measure the amount of energy an electrical appliance consumes is. The FTC does not prohibit bait-and-switch advertising. At resale, buyer entitled to copy of declaration of condominium, articles of incorporation, bylaws, rules of assoc, FAQ, copy of most recent year end financial statement and GOVERNANCE FORM.
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