real estate.docx - Whether a real estate office is...

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Whether a real estate office is structured as a corporation, partnership, or sole proprietorship it must have: at least one licensed broker responsible for the activities of the corporation A real estate salesperson is supervised by employing broker only. California's Real Estate Law is found in the Business and Professions Code. Which of the following does not require a real estate license? selling your own property Every real estate broker must be licensed by the Department of Real Estate. In order to obtain a real estate license, an applicant must complete: three college level classes Under the Real Estate Law, a real estate salesperson works for a broker as a/an employee. Correct the format. When a real estate license expires, it may be renewed up to two years later. The Real Estate Law allows a business opportunity to be sold by a real estate licensee. All real estate licenses are issued for a period of four years. The rectangular survey system is also known as the U.S. government survey system. The term real estate means the same thing as real property. How many sections are in a township? 36 Something that is used with the land for its benefit, such as a roadway or a waterway, is known as an appurtenance.
Real property includes all of these The test for a fixture does not include origin of manufacture. Personal property is usually transferred by a bill of sale. Today, more than 50% of California land is owned by the private sector. There are three principal baselines and meridians in California. The intersection of the Humboldt Baseline and Meridian is in northern California In medieval England, the highest form of ownership was the freehold estate. The four unities of joint tenancy do not include severance. Ownership in severalty is separate ownership. Someone who receives real property is known as the grantee. An estate subject to a condition is known as: fee simple defeasible. The right of the future holder of what is currently a life estate is a Remainder The highest form of modern land ownership is known as a/an Fee simple absolute A concurrent ownership right that can be willed is tenancy in common Community property is all property acquired during marriage that is not separate.
Which of the following is not considered concurrent ownership? Ownership in severalty Accretion is the process of accumulating new soil along a flowing body of water. If a person dies without having a will, that person dies intestate. Which type of deed would be used when the purchaser pays off the original real estate loan? reconveyance deed Land is torn away by the action of water in the process called avulsion.

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