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Mike McCollum
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Decks in this class (42)
Lesson 1 Code of Virginia
Requirements govern who can and c...,
Va real estate overshite
2
cards
Title 54.1 Chapter 21
It defines the make up and author...,
It delineates the requirements fo...,
Explains actions you need to take...
4
cards
Intro to Virginia Real Estate Board
Members are appointed by,
Members serve _year terms,
Members can be reappointed
9
cards
Responsibility and Authority of VREB
This regulation includes a descri...,
The virginia administrative code ...,
License
14
cards
ActivitiesRequiringRealEstateLicenseVA
On behalf of others for compensat...,
You __ have a real estate license...,
What can you do as the owner or t...
26
cards
Real Estate License Types
Holds a broker s license and is a...,
Can be a person or an entity such...,
Supervision of and responsible fo...
16
cards
Virginia Licensure Requirements
Age,
Experience,
Education
13
cards
Virginia Reciprocal Licenses
Licensees from another state must...,
If you are licensed in virginia y...,
You must have been active in real...
5
cards
Business and Affiliated Licenses in Virginia
Sole proprietorship broker owned,
Sole proprietorship non broker ow...,
Partnership
6
cards
UNIT EXAM
Where to find the rules about wha...,
Which va agency administers recip...,
Sarah and jim have their broker s...
7
cards
LICENSE STATUS and The VREB
If you do not have a broker who h...,
If you have an inactive license,
If your license is inactive
25
cards
Affiliating With Broker
You select a principal or supervi...,
Broker affiliation includes,
Requirement to apply for broker s...
17
cards
Virginia Broker Requirements
Must maintain a place of business,
Display the license name,
Notify the vreb of any change of ...
18
cards
Brokerage Audits
Requires that all brokerage firms...,
Licensing period length,
Why is an audit important
19
cards
Changing Brokerage Affiliation
You can change brokers at any tim...,
In order to switch brokerage affi...,
In order to switch brokerage affi...
13
cards
Renew License | PLE | CE
You pass licensing exam,
Within one year of receiving license,
During the 2nd year of licensing
19
cards
Post-Licensing Education
Within one year receiving your li...,
You must maintain your own record...,
Virginia requires real estate lic...
10
cards
Unit 3 Exam
If you have the kind of license t...,
A person s license expired 20 day...,
What type of license just receive...
9
cards
VREB Regulations and Standards of Conduct
Trouble improper,
Trouble failure to provide vreb w...,
Trouble unworthiness and
8
cards
Common License Law Violations
Demonstrating unworthiness or inc...,
Making substantial and willful,
Failing to provide adequate discl...
16
cards
VA Real Estate Complaint Procedures
Once a complaint is filed the dpor,
An information meeting is held be...,
Complaint handlingcomplaint is made
13
cards
Penalties for Violating Virginia License Law
The reb can issue a,
Place you on probation,
Suspend revoke or deny renwal of ...
9
cards
Virginia's Real Estate Transaction Recovery Fund
The purpose of the fund,
The consumer must apply within __...,
The max amount a consumer can rec...
9
cards
Lay of the Land
Earth s surface,
Real estateeverything in the defi...,
Artificial attachments are called
12
cards
Real Property vs. Personal Property
Another word for personal property,
Items that are permanently attach...,
Chattel includes things like
4
cards
Three Tests To Determine Property Type
Three a s,
How and whether the item is attac...,
How the item is situated or adapt...
5
cards
Classes of Plants
Cultivated crops are called,
When an item that was real proper...,
The opposite of severance is
4
cards
When Manufactured Home Considered Real Estate
Home constructed with transportat...,
Constructed in a factory towed to...,
This is a home that is not built ...
8
cards
Land, Real Property and Real Estate - Exam
This test is based on how and whe...,
Seller is adamant that she will u...,
Artificial attachments to land th...
8
cards
Categories of Real Estate Characteristics
Two primary categories of real es...,
Scarcityimprovementspermanence of...,
Immobilityindestructibilityunique...
10
cards
Bundle Of Rights
Gives owner the ability to use pr...,
Allows owner to control the use o...,
Gives the owner the right to sell...
12
cards
Describe Real Estate
Clearly defining property rights ...,
City state and zipcode of property,
Area dimensions and description u...
42
cards
Types of Encumbrances
Any claim or lien on the held by ...,
Lien due to a court decree result...,
Legal notice that a lawsuit is pe...
37
cards
TypesOfRealEstateOnwership
Interest in a real property for a...,
Freeholdownership possession and ...,
Ownership possession and control ...
23
cards
FormsOfRealEstateOnwership
One person owns the property and ...,
Each person entitled to possessio...,
Business can be conducted ant tit...
26
cards
Trusts
Special relationship called a fid...,
Person that creates the trust,
Person who carries out the trust ...
11
cards
Unit5 Exam
Ownership encommpasing the four e...,
Non lawful possession after expir...,
Ownership is inherritable
12
cards
Common Interest Ownership
A disadvantage of owning a townhome,
Maintaining smaller front and bac...,
This is a defininite disadvantage
12
cards
Types of Agents and Agencies
Relationship between real estate ...,
Rules governing the relationship ...,
Someone who uses or purchases a p...
12
cards
Customer-vs-Client
Real estate licensee works with c...,
Agents can only represent,
If you treat your customers like ...
6
cards
Agent Types
Responsibility for all dealings o...,
You have limited authority to act...,
Most real estate transactions inv...
8
cards
TypesOfAgency
Represent one client,
Represent seller,
Represent buyer
8
cards
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MyVARealEstateExam
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