Ky real estate exam Study guides, Class notes & Summaries

Upon death of incapacitation of a principal broker, KREC may give permission for a sales associate to manage firm for how long? Up to 6 months Individuals that are exempt from a real estate license Attorneys performing real-estate related duties, Bankruptcy receivers and trustees, estate administrators and executors, individuals selling property under court order, Employees of the owner or principal broker of a property management firm who perform administrative tasks, Individuals selli...

Kentucky Real Estate Practice Exam With 100% Correct Answers 2023

KY Real Estate Law - PSI Practice Exam With 100% Verified Solutions

Accretion - correct answer Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant - correct answer Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License - correct answer License to act as intermediary on behalf of others for a commission. Bringing together of parties intere...

KY Real Estate Exam Revised Study Set 100% Correct Accretion *Ans* Increase of land by deposit of sand or soil washed up naturally from a river, lake or sea ADA Tenant *Ans* Tenant with disability. Must accommodate for tenants/residents with disabilities. Priority is to get party to the door. Can make changes, must be giving parking if available, do not have to ask to make changes Broker's License *Ans* License to act as intermediary on behalf of others for a commission. Bringing t...

What title guarantees will Jody have when she buys a property at a foreclosure auction? covenant of seisin Sondra, a buyer, signs all the required mortgage documentation, promising to make all payments to her lender. Unfortunately, Sondra falls on hard times and misses multiple payments, and the bank indicates that it's going to foreclose on her. The foreclosure proceedings are more difficult for the lender because Sondra holds the deed to the land. What kind of state does Sondra live i...

what happens with a Judicial foreclosure? - correct answer the mortgaged property is sold under the supervision of a court broker Dean realizes he has relocation buyers. What is something he should focus on with these buyers? - correct answer finding a property with good resale value real estate licensees should know enough about building ordinances to be able to... - correct answer alert clients of potential problems in a home if an industrial property is described as "special-purpose...

which of the following statements is true about the Kentucky Statute of frauds and the sale of real estate? - all essential terms of the contract must be in writing which of the following statements is true regarding Kentucky real estate brokerages? - the principal broker may choose to use designated agency, dual agency, without designated agency or no dual agency at the brokerage if the licensee can't pay or refuses to pay an aggrieved party after being found guilty of fraud in Kentucky, ...

National Kentucky Real Estate Practice Exam #1 With 100% Correct Answers 2023

Jerry and Simon signed a contract so that Jerry could purchase all of Simon's restaurant equipment for one price after Simon closes his restaurant next month. The contract contains a provision that states Jerry has one year from the purchase date to file a suit relative to the purchase. After the year is up, Jerry forfeits the right. What kind of contract clause is this? A. Specific time B. Statute of limitations C. Time is of the essence D. Time of performance - Statute Of Limitations ...