National Association Of Real Estate License Law Officials (NARELLO)
Founded in 1930 and located in Centerville, UT, NARELLO has 700 members consisting of state administrators managing real estate licensing laws. It seeks to improve real estate licensing examination administration, improve the effectiveness of license law management and implementation, and improve real estate licensing procedures. It conducts training workshops.
Popular Real Estate Terms
Arrears is a legal and financial term used to describe payments in regards to their due dates. While the term is more often used to refer to a contractual obligation or liability that was ...
Type of property distribution occurring when a person dies intestate. The estate id divided by the children of the deceased and by their children. For example, if a husband dies intestate, ...
The definition of a census-designated place or CDP is rather complex and difficult to understand. We are going to try to explain it as much as possible. Starting from the top and working ...
An attorney's opinion of the status of a title, which is attached to the abstract of title. ...
A Seller’s Market is the opposite of a Buyer’s Market. It’s that moment when conditions of the Real Estate Market are more favorable to Home Sellers than to Home ...
Method of revenue recognition based on delivery instead of sale. ...
Illegally keeping or holding on to someone else's property. An example is a tenant staying in the apartment after the lease has expired. A court order may be sought to evict the tenant. ...
Legal boundary of property. ...
The increase in a person's equity in a real estate due to the reduction in the mortgage loan balance and price appreciation. ...
Comments for National Association Of Real Estate License Law Officials (NARELLO)
What states restrict dual agency?
Feb 21, 2022 23:26:15Hey Stan! Thank you for reaching out to us. Based on our research, we discovered that while some states do not allow dual agency, there are some that allow designated representatives. The states of Colorado, Florida, Kansas, and Oklahoma do not permit dual agency. Still, Alaska, Texas, Wyoming, Vermont, and Maryland allow designated representatives, meaning that while the dual agency is illegal, they allow brokers to designate a brokerage licensee to the buyer and seller of the transaction, each with fiduciary duties. I hope this clarifies things.
Mar 04, 2022 15:13:47Have a question or comment?
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