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10 Cards in this Set
- Front
- Back
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Potable
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Drinkable
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Homestead Exemption
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automatic and protects only against judgements (100,000)
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Real Estate Commissioner
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Appointed by governor, serves at Governor's pleasure, has charge of real estate department, hires & fires employees of real estate department, conducts investigations (which are mandatory following written complaint, Commissioner may start investigation any time.)
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Real Estate Advisory Board
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Appointed by the Governor, 9 members consisting of 3 public, 2 subdividers, and 4 brokers.
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Article XXVI (26)
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-(pg 100, Constitution of Arizona) - if you have real estate license and represent one of these parties, you can draw up documents without accepting payment.
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Reversion
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the right to future ownership of property presently owned by another
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Lecense Renewal
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24 hours minimum every 2 years, must have 3 hours each of agency law, contract law, real estate legal issues, commissioner's standards, and fair housing.
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New licensees
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6 hour course on contract writing (Intro Contract Writing) (3 hours real estate legal issues & 3 hours contract law) must be taken before getting licensed - also good for renewal
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New broker Licensees
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Broker management class before license is issued - 3 hours rules credit.
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Arizona Commissioners Public Report
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Buyer must see this report prior to contract - report guarantees access, utilities, clear title, etc.
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