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
Worth of property based on the relevant economic factors (e.g., state of the economy, unemployment rate). ...
(1) Method of measurement lumber using the board foot cubic measure. The board measure is used to estimate quantities and prices of lumber materials. (2) Method of estimating lumber ...
Legal action between a plaintiff and defendant. ...
English style of architecture characterized by carving and paneling and flattened arches. ...
In between, intermediate, intervening; passing an interest from a principal to a second party and then to a third party. ...
Levied on those benefiting from the installation of a sewer. ...
A mortgage on which the interest rate is constant, but the payments are structured to increase, so the loan is paid off much earlier. ...
An agreement, debt, or low which can be operationalized, fulfilled, completed, or performed. ...
A lease contract to possess a parcel or property for a certain period of time. A leased fee estate is a conditional estate conveyance in real property for a specified period of time. The ...
Have a question or comment?
We're here to help.