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 corporationA real estate salesperson is supervised byemploying broker only.California's Real Estate Law is found in theBusiness and Professions Code.Which of the following does not require a real estate license?selling your own propertyEvery real estate broker must be licensed by the Department ofReal Estate.In order to obtain a real estate license, an applicant must complete:three college level classesUnder the Real Estate Law, a real estate salesperson works for a broker as a/anemployee.Correct the format. When a real estate license expires, it may be renewed up totwo years later.The Real Estate Law allows a business opportunity to be soldby a real estate licensee.All real estate licenses are issued for a period offour years.The rectangular survey system is also known as theU.S. government survey system.The term real estate means the same thing asreal property.How many sections are in a township?36Something that is used with the land for its benefit, such as a roadway or a waterway, is known asan appurtenance.
Real property includesall of theseThe test for a fixture does not includeorigin of manufacture.Personal property is usually transferred by abill of sale.Today, more than 50% of California land is owned by theprivate sector.There are three principal baselines and meridians in California. The intersection of the Humboldt Baseline and Meridian is innorthern CaliforniaIn medieval England, the highest form of ownership was thefreehold estate.The four unities of joint tenancy do not includeseverance.Ownership in severalty isseparate ownership.Someone who receives real property is known as thegrantee.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 aRemainderThe highest form of modern land ownership is known as a/anFee simple absoluteA concurrent ownership right that can be willed istenancy in commonCommunity property isall property acquired during marriage that is not separate.
Which of the following is not considered concurrent ownership?Ownership in severaltyAccretion is the process of accumulating new soilalong a flowing body of water.If a person dies without having a will, that person diesintestate.Which type of deed would be used when the purchaser pays off the original real estate loan?reconveyance deedLand is torn away by the action of water in the process calledavulsion.