Term
| Act that prohibits discrimination against race and color in certain real estate transactions |
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Definition
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Term
| Act that prohibits against race, color, religion, national origin, gender, familial status and handicap |
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Definition
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Term
| What eliminated price fixing? w/ year |
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Definition
| Sherman antitrust act of 1890. |
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Term
| How much does a broker or sales person pay towards the recovery fund? |
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Definition
| 10 for agents and 20 for brokers |
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Term
| How long does someone have to filing claim for recovery fund |
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Definition
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Term
| How much can the recovery fund pay out? |
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Definition
| 30k per person, 90k max for licensee |
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Term
| How long does a individual have to file a complaint with the realtor board of ethics? |
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Term
| Uniform Residential landlord and tenant act of when |
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Definition
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Term
| Rental agreements must be kept for how long? |
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Definition
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Term
| ADA was established when? |
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Definition
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Term
| Finders fee can pay what? |
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Definition
| to tenant. Cant exceed $100. Goes toward rent. no more then 6 times per year. |
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Term
| In termination of property manager, how long to show list of security deposits |
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Definition
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Term
| In termination of property manager, how long to provide funds to owner? |
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Definition
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Term
| In termination of property manager, how long untill final accounting? |
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Definition
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Term
| With constructive eviction, how long does landlord have to fix problem? |
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Definition
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Term
| if landlord wont fix, how much can tenant pay for? |
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Definition
| 300 or up to half of months rent. |
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Term
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Definition
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Term
| who are members of the RE Advisory board |
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Definition
| 2 brokers, 2 residential brokers, 2 subdividers, and 3 public members |
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Term
| How long is RE Board member term |
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Definition
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Term
| Experience of RE Commissioner? |
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Definition
| 5 years experience in brokerage, 3 years in admin |
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Term
| How big is government check? |
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Definition
| 24 miles square, (16 town ships) |
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Definition
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Definition
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Term
| How long do contractors have to file a mechanics lean? |
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Definition
GC = 120 days from completion.
Sub = 120 days from end of entire project. |
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Term
| How lond does it take to get an easement by prescription? |
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Definition
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Term
| What act protected disabled people? |
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Definition
| Rehabilitation act of 1973 |
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Term
| Act that prohibited discrimination against gender? |
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Definition
| housing and community development act of 1974 |
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Term
| No discriminiation against familial status and handicap? |
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Definition
| 1988 fair housing ammendment act |
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Term
| truth in lending act was implimented by what? |
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Definition
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Term
| Lenders have how long to give writen notice of reason for rejection? |
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Definition
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Term
| How long does someone have to claim a fair housing incodient? |
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Definition
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Term
| Penalties for fair housing issues? |
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Definition
-10k for first offences
-25k for second (5 years)
-50k for any more (7 years) |
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Term
| When mortgage is paid in full, how long do they have to issue a deed of reconvayence? |
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Definition
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Term
Redemption period for land contract/seller financing?
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Definition
| less then 20% equity = 30 days 20% - 29% = 60 days 30% - 49% = 120 days 50% or more = 270 days of redemption |
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Definition
| guarrantees payment of risky fannie may loans |
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Definition
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Definition
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Definition
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Term
| How long is redemption period for taxes? |
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Definition
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Term
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Definition
residentail is 10%
aggicultural is 16%
commercial is 25% |
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Term
| What created superfund sites? |
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Definition
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Term
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Definition
| 6 or more parcels, under 36 acres |
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Term
| resecission period for unsubdivided land? |
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Definition
-7 days for inspected
-180 days for uninspected |
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Term
| Max cost for new home lot? |
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Definition
| $5000, also is refundable |
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Term
| Brokers must keep completed transactions for how long? |
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Definition
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Term
| Brokers must keep rejected offers for how long? |
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Definition
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Term
| What states that agents and brokers can write real estate contracts as long as they dont charge? |
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Definition
| article 26 of AZ constitution |
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Term
| How long is cancellation period for a time share? |
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Definition
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Term
| How long is residential economic depreciation life? |
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Definition
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Term
| How long do you have to find a new property when using a 1031 exchange? |
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Definition
| 45 days to find, 180 days to close. |
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Term
| How long do lenders have to creat the Good Faith Estimate? |
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Definition
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Term
| How long are lenders required to keep the good faith estimate? |
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Definition
| 2 years from close of escrow |
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Term
| What is the fine for a kickback? |
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Definition
up to 1 year in jail
loss of license
10k fine |
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Term
| Redemption period for a sheriffs deed? |
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Definition
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Term
| Redeption period for trustee's deed |
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Definition
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Term
| what does appraiser need? |
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Definition
| appraisal license and 2000 hrs of apprentice work |
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Term
| When is a builder required to build? |
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Definition
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Term
| What is the max amount a lender can use a VA loan for? |
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Definition
| 4 times the intitlement amount? |
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