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
Real estate bought and leased to tenants to obtain rental income. ...
Charges billed for services rendered. They may be on a flat basis or on an hourly rate. ...
Room in a building used to collect solar heat. To provide for such collection, a room is generally constructed with a glass roof and walls. ...
Matters that need to be rectified in a home or building prior to its sale or acceptance by a new owner. For example, a leaking water pipe should be repaired prior to showing the property to ...
Self-employed contractor who may perform work on a structure such as residential or commercial property. ...
Are you speculating what a spec house means? (sorry for the lousy pun) The textbook spec (or speculative) house definition is “one built on an experimental basis, without an order ...
Structure built into the water from the land providing a facility for boats to tie up. A dock will often provide utility access ...
Make changes to existing property. Example are putting in a new bathroom, kitchen, or basement ...
British thermal unit-a unit of energy associated with the creation of heat. Prior to 1929, it was defined as the amount of heat required to raised the temperature of 1 pound of water 1 ...
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