Florida Real Estate State Exam 200 Questions And Answers Set 04
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Terms in this set
200
Temporary Incapacitation of license
mandatory suspension
out of state broker receives a commission
cannot participate in the transaction
city needs a new school, acquire land by
eminent domain
All legal rights transferred (100%)
assignment
Dual Agency
Representing both parties to a transaction. This is unethical unless both parties agree to it, and it is illegal in many states (Violation of Florida Statute 475
Combining two or more parcels of land
assemblage
Real Estate Recovery fund is funded by
fines and fees paid by licensees
Riparian Rights
An owner's rights in land that borders on or includes a stream, river, or lake. These rights include access to and use of the water.
Broker hiding value of property
Could be charged with concealment
If office is closed, reopened, in same license period
request a reissue- no fee