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29 Cards in this Set
- Front
- Back
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Borrower to see the closing statement before the closing (RESPA) |
1 DAY |
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Truth in Lending right of rescission |
3 Days |
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Time to get money in Trust Account (banking not calendar days) |
3 Days |
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Utah Land Sales Practices (also Timeshare) Act right of rescission (calendar days) |
5 Days |
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Required notice for a disciplinary hearing |
5 Days |
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Time for licensee to respond to a complaint |
10 Days |
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Period for mechanic to release mechanic's lien after payment |
10 Days |
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Statutory period for notice under a periodic tenancy lease |
15 Days |
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Broker must notify parties in writing of earnest money dispute |
15 Days |
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Period to pay late fee and renew license |
30 Days |
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Period to appeal decision of the Commission to revoke a license |
30 Days |
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Period for the Commission to make decision after a hearing |
60 Days |
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Period your test results are valid for obtaining your license |
90 Days |
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Equitable period of redemption under Trust Deed & Note foreclosure process |
3 mos. 21 days |
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Pass results for part of the State Exam are valid |
6 Months |
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Statutory period of redemption under a Mortgage foreclosure |
6 Months |
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Grace period after expiration of license for renewing before it lapses and you have to start from scratch |
6 months |
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Statute of Limitations, foreclosure on a non-residential mechanic's lien |
1 Year |
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Education is good for one year from the date on certificate |
1 Year |
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Your Real Estate license is valid |
2 Years |
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Following the year of the transaction, broker must keep transaction files |
3 years |
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Period after default before a property can be sold at a tax sale |
4 Years |
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The term of office for Utah Real Estate Commissioners |
4 Years |
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In Utah, a person can lose their water rights by abandonment or non use |
5 Years |
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Statutory period in Utah for adverse possession |
7 Years |
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Statutory period in Utah for obtaining a prescriptive easement |
20 Years |
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Least number of years that can be used to depreciate residual investment property ( Cost Recovery) |
27.5 Years |
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Least number of years that can be used to depreciate commercial investment property |
39 Years |
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Statutory period for removal of old encumbrances under the Marketable Record Title Act |
40 Years |
