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
Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, investors, and developers of commercial ...
An organized group of ethical behavior guidelines governing the day-to-day activities of a profession or organization. ...
Legal proceeding to exercise a right in a disagreement between private individuals or businesses. One party seeks a remedy against the other. It does not involve a criminal situation. ...
Claim of a person or business to real property such as by exercising an option. ...
Transfer of the title of land, real estate, or personal property from one person or entity to another. This transfer is typically made via a trust deed, mortgage, sales contract or similar ...
Same as term REIT: Type of investment company that invests money in mortgages and various types of investment in real estate, in order to earn profits for shareholders. Shareholders receive ...
Tenant that stays in the leased property after the expiration date if the lease. He can be evicted or given a new rental agreement. ...
Wires, such as for electricity, places beneath the floor of a structure. ...
Bottom frame of wood supporting a window. It should be strong in order to support something put in the window such as an air conditioner. ...
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