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63 Cards in this Set
- Front
- Back
Assignment of Mortgage - Mortgagor assigns
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Mortgage to Mortgagee (Borrower assigns mortgage to lender)
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Dividing a parcel of land into lots
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Subdividing
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If a developer is subdiving lots they must register with
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HUD
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DBPR is
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Deparment of Business and Professional Regulation
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The DBPR is under which branch of the gov't
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Executive
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Intangible tax is based off of what, and how much
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New amount of mortgage - .002 per dollar - stamp tax
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Stamp tax on notes
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Stamps of .35 for each $100 on new and assumed mortgages
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Stamp tax on Deeds
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Net sale price - .70 for each $100 on net sale price
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In order for a deed to be valid
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signed by grantor and two witnesses
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If a developer builds 20+ units, what must they give
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a prospectus
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Time to cancel a residential condo agreement
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15 days
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Scaring people into moving out of a neighborhood
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blockbusting
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Steering people towards a neighborhood
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steering
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A written contract is enforceable for
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5 years
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An oral contract is enforceable for
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4 years
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Any compensation earned must be paid by
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the employing broker
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On the HUD-1 the purchase price is
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debited from the buyer and credited to the seller
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A licensee has how much time to dispute a citation
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30 days
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To become a broker
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A active sales license must be held for the 24 months out of the past 5 years
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Who is immune to property taxes
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county, state, and federal buildings
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Who is exempt from property taxes
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churches and other non-profits
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In order for a transfer of property to occur
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a written and signed agreement must be in place
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In order to protect a large increase in assessed home value what is in place
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Save our Home
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Which type of transaction provides limited confidentiality
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Transaction Broker
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Escrow must by deposited by a broker, when?
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3 business days after it is received by the client
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When a tenant pays rent and property expenses what type of lease is it
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Net Lease
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A National Bank must be a member of the
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Federal Reserve System
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If found to be selling a bad rental listing
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you could be fined $1000 and be issued a 1st degree misdameanor
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In a real estate adverstisement
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the last name of the licensee and broker's firm name must be in the ad
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You can deduct
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property taxes on your 1st and second home..but cannot do the 3rd.
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If there is a conflict of demand
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FREC must be notified within 15 business days, and settlement must occur within 30 days.
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At a T-intersection
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You must be careful with the placement of windows and door
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A buyer can request a receipt for the escrow deposit from the title company
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within 10 days
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Difference between VA guaranteed and FHA insured
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VA is guaranteed, and FHA is insured
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Which part of FS 475 is lien and commercial sales
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Part 3
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Which part of FS 475 is lien and commercial leasing
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Part 4
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Which deed gaurantees quiet enjoyment
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General Warranty
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Profit and Overheard on an ARM
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Margin or Spead
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Each discount point increases yield by
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1/8%
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Surviving spouse has a property less than 50k value can have how much of a homestead
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$25k homestead plus $500 surviving spouse discount
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In order for a licensed personal assistant to get paid
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the commission must be paid by the broker
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Make a claim on a security deposit
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You have 30 days
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How to determine the value of a business going out of business
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Liquidation
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In order to call yourself a realtor
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you must be a member of the National Association of Realtors
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A spouse of military personnel with an out of state license can do what
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get a temporary 6 month license with florida.
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FREC cannot issues restitutions
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Only the court can order restitution
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Minimum time to be a licensed member of the commission
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2 years
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Law for agents to give a good faith estimate
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RESPA
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Lender have to give APR's because
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of truth in lending (TILA)
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If a foreign seller is in the deal
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the buyer must hold 10% of the proceeds
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The risk you can insure
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Static Risk
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Two tenancies that offer rider survivorship
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Joint Tenancy and Tenancy by survivorship
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Rights to underground ---
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Mineral rights, sub/surface rights
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If you violate no solicitation list you may be fined
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$10,000 per call
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Which roof that has an overhand on all sides
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Hip Roof
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If there is a mandatory HOA fee, and fail to give buyer the HOA disclosure, the buyer has how many days to cancel
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3 days
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If you buy a co-op, a BLANK gives you the right to occupy
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proprietary lease
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The seperation between one land's use, and another land's use is called
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Buffer Zone
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1 section equals how many acres
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640 acres
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1 acre
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43,560 sq ft
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1 mile
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5280 ft
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Member of Secondary Market that backs MBS
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Ginnie Mae
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Building a home without a buyer is called building a
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A speculative home build
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