- Study guides, Class notes & Summaries

1 Tract - ANSWERS24 miles x 24 miles = 576 square miles = 16 townships 1 Township - ANSWERS6 miles x 6 miles = 36 square miles = 36 sections 1 Section - ANSWERS1 mile x 1 mile = 1 sq mile = 640 acres 1 Acre - ANSWERS43,560 sq feet = 160 sq rods 1 Square Acre - ANSWERS208.71 ft x 208.71 ft 1 Mile - ANSWERS5280 feet (linear) = 320 rods = 80 chains 1 Chain - ANSWERS66 feet = 4 rods 1 Rod - ANSWERS16.5 feet Riparian Rights - ANSWERSThe water rights of a land owner with respec...

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21 pages

Written in 2023/2024

Grade A+

shantelleG

life estate pur autre vie - ANSWERSa person who gets a life estate BUT the measuring life is someone else other than the life tenant. "for another life" covenant of seisin - ANSWERSprotects the buyer in the case of other claims to the property. It promises that the grantor actually owns the property interest being granted to the grantee encumbrance - ANSWERSis a claim/liability that affects the value/use of the property. a nonpossessory right that is held by someone other than the proper...

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8 pages

Written in 2023/2024

Grade A+

shantelleG

Who is responsible for administration of real estate license law? - ANSWERSWashington State Department of licensing Who is in charge of the divisions with the department? - ANSWERSThe Director, and the department of licensing Who employs the Director and all Real Estate Division Staff? - ANSWERSThe State What are the Director or staff of the Real Estate Division not allowed to do? - ANSWERSTo own interest in any real estate firm Who appoints the director? - ANSWERSThe Governor Wha...

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11 pages

Written in 2023/2024

Grade A+

shantelleG

Three - ANSWERSCandidates for a Washington commission seat must have five years of brokerage experience or ______ years of experience in a related investigative position. The REALTOR® Code of Ethics - ANSWERSRachel, a REALTOR®, is transferring her Washington broker's license to a new firm. She calls all of her clients and asks them to request that they be allowed to terminate their agreements with her old firm and move with her to the new firm. What code or agreement has Rachel violated? ...

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3 pages

Written in 2023/2024

Grade A+

shantelleG

Rebecca receives an earnest money deposit in the amount of $12,000. Which of the following statements best describes the deposit of this trust money? Rebecca may deposit it in the firm's regular trust account. Rebecca must deposit it in an individual trust account set up for just this client. Rebecca must deposit the funds in a non-interest bearing trust account. Rebecca must deposit the funds into a DOL special trust fund account. - ANSWERS**Rebecca may deposit it in the firm's re...

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20 pages

Written in 2023/2024

Grade A+

shantelleG

Qualifications for wa state real estate commission - ANSWERS5 years of experience performing real estate brokerage services in this state or 3 years experience in investigative work of a similar nature, preferably in relation to the administration of real estate license law in Washington or elsewhere. Who appoints the real estate commission seats? - ANSWERSThe governor must appoint 6 commission members for a term of 6 years each. At least two will be selected from the area east of the cascade...

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3 pages

Written in 2023/2024

Grade A+

shantelleG

Pre-licensing edu # of hours - ANSWERS90 hours Audits on Trust accounts - ANSWERSevery 3 years Continuting Ed - ANSWERS60 hours Managing Broker needs __ years experience - ANSWERS3 years Security Deposit Returns - ANSWERS21 days First time renewal coursework - ANSWERSNew licensees complete 30 hours of advanced practice, 30 hours of real estate law, 27 hours of CE, and the three-hour core course to renew. Subsequent license renewal requires 27 hours of CE and the core course. Th...

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33 pages

Written in 2023/2024

Grade A+

shantelleG

In Washington, how many hours of coursework must an applicant complete before applying for a managing broker's license? - ANSWERS90 days How often does a Washington real estate firm's license expire? - ANSWERSEver two years In Washington, licensees renewing for the first time will complete ______ hours in advanced practice coursework, ______ hours in real estate law, ______ hours of continuing education coursework, and a ______-hour core course. - ANSWERS30, 30, 27, 3 How frequently s...

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9 pages

Written in 2023/2024

Grade A+

shantelleG

when does the real estate agent give the seller's a copy of their listing agreement form? - ANSWERSimmediately what are the elements needed for a valid purchase and sales agreement? - ANSWERSconsideration (not of monetary value), in writing & lawful purpose. There does not need to be earnest money but often is a mortgage that secures both real and personal property as collateral to secure a borrower's debt - ANSWERSpackage mortgage name of the state/local sales tax debt to the seller ...

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7 pages

Written in 2023/2024

Grade A+

shantelleG

Deed in lieu of foreclosure - ANSWERSYin Lee is an owner of several properties as well as a relatively high profile individual. In order for Yin Lee to attempt to avoid a possible foreclosure from becoming a matter of public record by being recorded, Yin Lee would want to give the lender a: A real estate license - ANSWERSIf a contractor intends to sell 10 properties in a calendar year, he/she will need Desire and means - ANSWERSDemand for property requires what two factors of the populace ...

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27 pages

Written in 2023/2024

Grade A+

shantelleG

Abandonment - ANSWERSThe voluntary and permanent cessation of use or enjoyment with no intention to resume or reclaim one's possession or interest. May pertain to an easement or a property. Abrogation - ANSWERSTenants cannot sign away their rights in advance of signing the lease. Abstract of Title - ANSWERSA condensed version of the history of title to a particular parcel of real estate as recorded in the county clerk's records; consists of a summary of the original grant and all subsequ...

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19 pages

Written in 2023/2024

Grade A+

shantelleG

Washington State Broker Exam (State Portion) Updated 4 9 Questions and Answers

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33 pages

Written in 2023/2024

Grade A+

millyphilip