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DC REAL ESTATE EXAM- STATUTORY REQUIREMENTS GOVERNING THE ACTIVITIES OF LICENSEES PART 2 QUESTIONS WITH 100% CORRECT ANSWERS

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DC REAL ESTATE EXAM- STATUTORY REQUIREMENTS GOVERNING THE ACTIVITIES OF LICENSEES PART 2 QUESTIONS WITH 100% CORRECT ANSWERS

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The GCAAR form called --- can be used to disclose representation to all parties. It's
signed and attached to the sales contract or lease.


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DC Disclosure/ Confirmation of Dual Representation and/or Designated
Representation




If a transaction closes partway through one of these halves, the tax amount may be --
- with the seller likely paying his or her share of the tax bill as part of closing.


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prorated

,The --- is an informal alliance of all of the above organizations.


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Historic Districts Coalition




Condominium conversions also require a public offering statement, in addition to
information about construction dates, existing building systems, and other reports.
Conversions also require:


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At least 120 days before a conversion begins, advance notice to vacate
must be provided to existing tenants and
subtenants. The notice must be hand-delivered or delivered via mail with
return receipt requested.




Owners are required to --- and pay an annual registration fee. In addition, a valid
operating permit has to be issued before it's put into service. Absent a permit, the UST
has to be emptied. The DDOE routinely withholds permits for tanks that have been
emptied and taken out of service. For significant violations of UST rules, the DDOE will
suspend or revoke a permit-at least until the system is back in compliance.


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register USTs with the department

, The DDOE keeps records of whether a property has or has ever had a UST.
Specifically, the DDOE regulates petroleum underground storage tanks with a
capacity of more than --- and heating oil tanks with a capacity more than ---and for
both where at least 10% or more is underground.


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110 gallons, 1,100 gallons




DC disclosure requirements don't supplant but complement federal lead disclosure
law. Disclosure is only required for properties built prior to ---


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1978




Landlords in Washington D.C. must obtain a --- to rent out their residential property.


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housing business license




If licensees are members of the ---, they may obtain consent
using the Consent for Dual Representation and Designated Representation in the
District of Columbia form. This is signed
and attached to all listing agreements.


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