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
To upgrade a facility by installing up-to-date technology as well as introducing stylistic changes reflecting current patterns. Modernizing a facility can add substantially to its value and ...
The American Institute of Real Estate Appraisers, in short, the AIREA, or the Appraisal Institute as it is known nowadays, is an institute that aims to advance professionalism in the real ...
Residing in or using real estate. An example is a tenant in an office building. ...
Same as term deed of trust: A document that conveys title to a neutral third party (trustee) during the period in which the mortgage loan is outstanding as collateral for a debt. ...
The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a ...
Residence units owned by the government and available to low income families at a nominal cost. ...
Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, ...
See accommodation endorser, maker, or party. ...
Time period in which one may carry out a lien on property. ...
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