Massachusetts Real Estate Pre-Licensing Course Study Guide

These flashcards summarize essential vocabulary and concepts from the Massachusetts Real Estate Pre-Licensing Course, providing key definitions that are important for the licensing exam.

Fiduciary Obligations

Legal duties of trust, loyalty, and care that a real estate agent owes to their client.

Salesperson License

A license that requires affiliation with a broker, prohibits direct client payments, and has specific age and educational requirements.

Broker License

A license allowing the holder to operate independently, accept direct client payments, and handle escrow funds.

Massachusetts Real Estate Licensing Law

Governs the licensing of real estate agents and protects consumers; enforced by the Board of Registration of Real Estate Brokers and Salespersons.

Dower Rights

The legal right of a widow to a portion of her deceased husband's property, abolished in Massachusetts.

E-Signatures

Legally recognized electronic signatures under the Federal Electronic Signatures in Global and National Commerce Act.

Littoral Rights

Ownership rights of property bordering lakes and oceans, with specific legal standards in Massachusetts.

Encumbrance

A claim, lien, or liability on property that affects its value or use.

Chapter 93A

Massachusetts Consumer Protection Act that empowers consumers to file claims against unfair business practices.

Zoning Ordinances

Laws regulating land use that govern what property owners can do with their property.