License Laws
Definition of "License laws"
Laws enacted by every state governing the activities and requirements of real estate salespeople and brokers. Upon satisfying the necessary age and residency requirements and satisfactorily passing a license examination, a real estate salesperson or broker license is issued to the individual. The license will state the name of the individual. The date when the license was issued and what type of license it is, and often in the case of a real estate salesperson, the business address of the real estate broker with whom the individual is associated.
Popular Real Estate Terms
Transfer of personal property via a will as a gift to the recipient. ...
Using beams on an interim basis while a structure is being built. Reinforcing a building with supports. A property. ...
When we talk about acceptance in the real estate world, we have to talk about an offer that is accepted. The definition of acceptance implies the existence of an offer that we can accept or ...
Tenant agrees to a replacement landlord. ...
An individual for whom a court has awarded a financial judgment against a debtor. For example, a court award makes Smith a judgment creditor against Cole for $2,000. ...
The Debt-to-Income Ratio’s (DTI) definition is a measure that allows one to compare the ability an individual has to afford a monthly debt payment out of their monthly gross income. ...
Restraining a person or business from denying an appropriate conveyance of property evidenced by a deed has given. ...
Having an interest in property for the duration of one's life after which the title reverts to another party. ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
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