RERA Class

RERA CLASS EXAM WITH 100% CORRECT ANSWERS law 26 was - correct answer landlord & tenants rules and regulations, of 2007, law 33 of 2008 was its amendment what year was Dubai Land Department formed - correct answer 1960 Goal of DLD - correct answer protect rights and enforce obligations of all parties involved in property transactions difference between Free Hold and Free Zone - correct answer Freehold you own it indefinitely, Freezone is an area that permits 100% ownership with generally 0 taxation.. DLD registers what? - correct answer Property Sales & Purchases, Mortgages & Long Term Leases Inheritance Rights Easements/restrictions Liens zoning & development rights other real property conditions what does DLD services, what are the charges - correct answer issues title deeds or certificates of title charges transfer fees of 2% mortgage info public auctions on foreclosed property dispute resolution for rental complaints.. What two things must all real estate advertising mention in their ads - correct answer RERA number of the agent & Broker number ORN & BRN if you don't mention both these numbers what is the penalty for that (what numbers also) - correct answer 50,000 aed (ORN & BRN) when was freehold properties created in dubai? - correct answer may 2002, Freehold established by Crown Prince General Sheikh Mohamed Maktom what are the two governement mega developers? - correct answer Emaar--Burj Khalifa, new dubai Nakheel--Palm Jumeriah how many villas on the palm? - correct answer 2000 how many villas on meadows, and who developed them? - correct answer emaar, 700 tell me about the springs - correct answer just behind the meadows, several thousand also by emaar how many towers in jbr? - correct answer 43 what are the four stages of real estate life cycle? - correct answer expansion recession contraction revival DLD what is it when was it formed? - correct answer 1960 to oversea affairs of properties in the dubai, register them. safeguard rights of people, organize all transactions what is the relationship of RERA and DLD? - correct answer RERA is a subsidiary of DLD tell me about RERA - correct answer has full authority as a government agency with financial and administrative independence to regulate real estate in dubai, launched in 2007 RERA responsibilities are: (5) - correct answer •Licensing all real estate activities. •Managing real estate developers' trust account. •Licensing and organizing real estate agents. •Regulating and registering Rental Agreements. •Regulating and supervising the owners associations Regulating real estate advertisements in the media. •Regulating and licensing Real estate exhibitions. •Publishing official research and studies for the sector. •Enhancing national participation in the real estate sector. •Increasing real estate awareness rules of rera license - correct answer brokers must operate & adhere within their license activity 2. must wear their Broker Id while completing transactions at RERA/DLD three things that need to be registered for a developers project to be legitimate - correct answer Broker PRoject Trust/Escrow Account