Real Estate MOD 3

A property with encumbrances that will outlast the closing:

Can be sold if a buyer agrees to take it subject to the encumbrances

Which even will terminate an agency in a broker-seller relasionship?

The owner declares personal bankruptcy

A real estate broker was responsible for a chain of events that resulted in the sale of the clients property. This is called?

Procuring cause

Sales associates who were paid in a lump sum and who were personally responsible for pay7ing their own taxes are probably treated fir tax purposes as:

Independent contractors

The person who prepares an abstract of title for a parcel of real estate:

Searches the public records and then summarizes the events and proceedings that affect tittle.

In a real estate transaction, the term fiduciary typically refers to the:

Agent’s relationship to the principle

The federal law that makes contracts originated, negotiated, and executed over a combination of computer and cell phone enforceable is:

UETA

A buyer bought a house, received and deed, and moved into the residence but neglected to record the document. One week later, the seller died and heirs in another city, unaware that the property had been sold conveyed title to a relative, who recorded the deed. Who owns this property?

The buyer

What does the phrase “the law of agency is a common law doctrine” mean?

It is part of a body of law established by tradition and court decisions

A broker was accused of violating antitrust laws. Of the following, the broker was MOST likely accused of:

A- Not having an equal housing opportunity sign in the office window

B- Undisclosed dual agency

C- Price-fixing

D- Dealing in unlicensed exchange services

Price-fixing