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30 Cards in this Set
- Front
- Back
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what do developers submit to local planning agencies?
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subdivision plat map.
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shows individual lots streets and public utilities
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subdivision plat map
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how long does a florida licensee have to notify the commission if they move out of state?
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60 days
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The unlicensed practice of real estate in florida is what kind of felony?
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third degree felony
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Tenants can't receive more than ---------from an owner or property manager for referring other tenants.
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a 50 dollar refferal fee
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the commision has the power and duty to
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created and pass rules and regulations
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rules and regulations created by the commision are what kind of legislative function?
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quasi legislative function
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Frec only has----- not employees
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appointees
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Only brokers may hold more than one license and be a broker in several firms. T/F
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True
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a ------------- is a relationship of trust and confidence between the single agent broker and the seller or buyer.
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fiduciary relationship
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apply onlyy to residential real estate sales.
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disclosure requirements
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residential sales are defined as
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improved properties with four or fewer units, unimproved property intended for use as four or fewer units, agricultural property of 10 acres or less
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Transaction brokers have the duty of
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limited confidentiality
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Transaction brokers provide what kind of representation.
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limited representation
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sales associates must give employers all such deposits within ------business day
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one
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ads that do not have the name of the firm and are prohibited.
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blind ads
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if licensees use their personal names in an ad, they must use their
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last name registered with FREC
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the unauthorized use or retention of property belonging to another person.
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conversion
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a broker who spends all the commission money before paying the sales associate his or her share is an example of what?
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conversion
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Where do security deposits from tenats go?
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property management escrow account
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What does not apply to the disposition of escrow deposits
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buyer of condominium cancels the contract within the allowed time frames
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course of action when two contesting parties cannot reach an arbitrated agreement. the legal proceeding whereby the broker having no financial interest in the disputed funds, deposits with the court the disputed escrow deposit so that the court can determine who is the rightful claimant
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interpleader
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a corporation is formed by filing its ====== with the -------
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charter, secretary of state
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DBPR investigator/auditor may give a ------ for minor violation
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citation
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a first time offense for a minor violation may result in
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notice of concompliance
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how long does a licensee have to take corrective action after receiving a notice of non compliance?
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15
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involve fines that range from 100 dollars to 1000 dollars and may include other penalties
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citations
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if a licensee pays a citation fine what will happen to the case
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it will close
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What does the recovery fund cover for a broker?
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Broker's court costs and attorney fees and if the plantiff wins the law suit, his court costs and attorney fees as well
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How much is the fee that each broker and sales associates to cover the recovery fund.
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7 dollars for broker and 3 dollars for associates each renewl period
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