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10 Cards in this Set

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  • Back
Potable
Drinkable
Homestead Exemption
automatic and protects only against judgements (100,000)
Real Estate Commissioner
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.)
Real Estate Advisory Board
Appointed by the Governor, 9 members consisting of 3 public, 2 subdividers, and 4 brokers.
Article XXVI (26)
-(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.
Reversion
the right to future ownership of property presently owned by another
Lecense Renewal
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.
New licensees
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
New broker Licensees
Broker management class before license is issued - 3 hours rules credit.
Arizona Commissioners Public Report
Buyer must see this report prior to contract - report guarantees access, utilities, clear title, etc.