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
Stiff pipe used to cover electrical wiring for safety purposes. ...
Restitution or compensation for harm or wrong done. ...
A simple box-shaped house with clapboard siding and a gable roof. ...
Linkage of property ownership that connects the present owner to the original source of title. ...
Statement made verbally. It is better legally to have a written statement because verbal ones without witnesses may be denied. ...
Balcony or low ceiling overhang just above the main floor and between the next story. In a theater, a mezzanine is the first balcony above the stage. ...
Individual who gives false statements under oath, which is a criminal act punishable by imprisonment and fine. An example is signing a tax return that fraudently understates rental income, ...
Certificate issued by the government showing evidence that the veteran is qualified and the amount of guarantee available to maintain a VA loan. It is one of the documents necessary to ...
A certificate of ownership in a real estate company. Pledged assets for a borrowing. An example is an office building serving as collateral for the mortgage. Way of protecting property ...
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