FRECI_5-10 - Lecture Preview Florida Real Estate Commission...

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Florida Real Estate Commission Course I Pre-Licensing Course for Sales Associates Session 5 – Lecture 10 Real Estate Brokerage Activities Copyright, 2004 2 Lecture Preview What will you learn from this lecture? Approved brokerage entities Ostensible partnerships Replacement of a principal broker The use of trade names Entities that cannot register as brokers Copyright, 2004 3 Vocabulary Terms Corporations General partnerships Limited liability partnerships Limited liability companies Limited partnerships Ostensible partnerships Sole proprietorships Tradenames Copyright, 2004 4 Business Entities Ch 475.01, F.S. defines broker as a person who is a general partner, officer, or a director of a partnership or corporation that acts as a real estate broker Sole Proprietor General Partner Officer Copyright, 2004 5 Approved Business Entities Sole proprietorships Partnerships Limited liability partnerships Corporations Limited liability companies Any of the following may register as a real estate brokerage business entity Copyright, 2004 6 Sole Proprietorships Owned by one person Easy to organize and operate May use own name or fictitious name as trade name (register w/FREC) Unlimited liability including any associates Easily dissolved Death
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This note was uploaded on 05/21/2011 for the course FREC 1000 taught by Professor Stallone during the Spring '08 term at University of Florida.

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FRECI_5-10 - Lecture Preview Florida Real Estate Commission...

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