These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. Which property is immune from property taxes? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. How will the property taxes be entered on the closing statement? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? Good Faith Estimate (GFE) 2. refinancing of real property or interests in real property The developer sold the lots for $250 per front foot. Special Assessments are one-time taxes levied on properties to help pay for some public improvement that benefits property - typically levied on a front foot basis or per hookup basis for utility and sewer improvements. Which statement is TRUE regarding Florida's telemarketing law? Which requirement is one of the elements of a valid real estate contract? The seller cannot now accept the original offer, because it was killed by the counteroffer. Facebook Instagram. Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. FL law does not require that prospective buyers and seller be represented. Real estate licensees may contact their former customers for up to 18 months following the closing of a transaction, even if the customer's name is on the national registry. What is the annual rent for the year if the annual gross sales are $450,000? (Round answer to nearest dollar. Which statement is TRUE regarding this situation? A sales associate receives a deposit from a buyer on Wednesday morning. (page 176). What is the total property tax exemption on her homesteaded property? Property taxes The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Which law prohibits racial discrimination in the sale or lease of all real property without exception? You are appraising a four-year-old, single-family residence. A comparable property recently sold for $315,000. C. The applicant must apply for a broker license under mutual recognition. A buyer offered $225,000 for a seller's property. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? $52,000 x .07375 = 3,835 / 12 = 319.58 A) The federal telemarketing law exempts telephone surveyors. A Georgia real estate licensee moved to Miami five months ago. The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services. required by Florida law to verify that license applicants are current on child support payments. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. Three brothers join together to purchase property. Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . I = RV Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. RE R V RE EVERE E R Vol. Statutes change, so checking them is always a good idea. Which type of window is the least energy efficient? Only 2 members must be consumer members who have never been brokers or sales associates. Accretion is the process of land buildup from water-borne rock, sand, and soil. 5. A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. This arrangement is. C) All VA mortgage loans contain a due on sale clause. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. How must the broker as agent handle the security deposits and advance rent? Mortgage interest The total square footage of the livable area is 2,600. which statement is true regarding the federal telemarketing law? The right of the state to take property of a person who died intestate and without heirs is known as. The referring tenants do not hold real estate licensees. A buyer and seller enter into a contract for sale and purchase of a home. B) The loan applicant can sue the credit union for violating the Fair Housing laws. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Choose the correct concept with the example below: When Fern saw the man sitting on the steps in San Francisco holding a cup, she thought he was a homeless person. The seller is still owed the entire amount of the purchase price. Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. The term used to measure the amount of energy an electrical appliance consumes is. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. C) The real estate licensee must show that the license was active at the time the transaction was entered into. . Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securitie Tenancy in Common (no right of survivor ship, heirs inherit), A parcel of real estate has been left to the wife through her husband's will for the widow's use and enjoyment during her lifetime, with the provision the property goes to the widow's stepson at her death. A developer advertises homes for sale with a total down payment of $2,000. astros vs yankees cheating. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? On the first of the month, the seller collected total rent for September amounting to $950. Federal government websites often end in .gov or .mil. Hazard Insurance is included as part of a fixed expense (also ppty taxes) Mortgage payments are not considered an opex because they are not directly associated with the maintenance and operation of the property. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Use the actual number of days in the closing month when determining the time line. A) Seller and buyer both claim the earnest money deposit. Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? The settlement benefits consumers who received one or more prerecorded voice messages regarding Connected Investors' goods and services between April 28, 2017, and Sept. 26, 2022. (2) Training of personnel engaged in telemarketing. A satisfaction of mortgage is given by the lender to the borrower when the loan is paid off, must be sent to mortgagor within 60 days. You can submit your application to register your company with Working Advantage to get your employees access to a wide variety of everyday savings: home office supplies, streaming services, food delivery, educational programs, automotive, gifts, health and wellness, plus the top offers in travel and entertainment. D. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 2. a statement by you that you have a good faith belief that the disputed use is not authorized by the copyright owner, its agent, or the law; a statement by you, made under penalty of perjury, that the information provided in your notification is accurate and that you are the copyright owner or authorized to act on the copyright owner's behalf. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? 3. Reply 'Help' for help. A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. C) tenants and buyers of all residential property built before 1978. . Need for expert help; 4. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. Special Information Booklet (HUD) is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. Service and charges (a) It shall be the duty of every common carrier engaged in interstate or foreign com The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. For a violation of any of the telemarketing rules in Florida Statute Section 501.059, consumers can now sue to enjoin the violation and recover actual damages or $500, whichever amount is greater. The Florida Building Energy-Efficiency Rating Act does NOT require. Search the Legal Library instead. D) The real estate licensee is not eligible to make a claim against the Real Estate Recovery Fund. 50 / 100. Central Asia. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. Which statement is TRUE regarding this situation? A court may award up to three times that amount for a willful or knowing violation. T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars), The term used to measure the amount of energy an electrical appliance consumes is. 950 / 30 = 31.67 x 20 = $633.33 The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. b. 0. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. Accretion is the process of land buildup from water-borne rock, sand, and soil. Which statement is TRUE regarding a title company holding the escrow funds? She requests a Florida sales associate license based on mutual recognition. Which statement is TRUE regarding the key rings? B) tenants and buyers of all residential property. The procedures instituted must meet the following minimum standards: (1) Written policy. The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Which solution is NOT a remedy for the breach of a real estate sale contract? Many states also have laws regulating telemarketing. C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). Open listing allows the seller to list the property with multiple brokers. The developer sold the lots for $250 per front foot. Deed is the written instrument to convey an interest in real property. SB 1120, which went into effect July 1, 2021, imposes significant additional restrictions (and additional penalties for violations) on businesses making calls to Florida residents or Florida area. Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions) the others are remedies for a breach in contract. The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be in writing and signed to be enforceable. What is the state's intangible tax on a new mortgage of $10,000? The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE.
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