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
Legal abbreviation meaning with husband. ...
Building a structure in such a way as to reduce the process of destruction in the event of fire. Fire-resistant materials are used. ...
Highly subjective term, usually an expression of monetary worth applied to a particular piece of real estate property. ...
Work required as a court judgment because of a crime committed. ...
Room containing a toilet and wash basin, but does not include a shower or bath tub. ...
Buying real property subject to risk. For the high risk undertaken, the expected return is higher. The investor may lose all of part of the initial investment. ...
The part of the amount received from selling or exchanging real property that is taxable income. ...
Association of the owners of all condominium units in a building that is concerned with managing day-to-day matters in the building complex, including the surrounding and enforcing ...
You can often bump into the question of what is lot and block in real estate before selling or purchasing a piece of land. This entry will shed light on the lot and block ...
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