B) The buyer and seller have entered into a contract for $225,000. Which statement is FALSE regarding earning continuing education (CE) credit by attending a legal agenda session of the monthly Florida Real Estate Commission (FREC) meeting? Included advantages: The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. FL law does not require that prospective buyers and seller be represented. Section 31 would be located in which corner? Which statement is TRUE regarding this property? Wattage is the measurement of the amount of energy consumed. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. Which business would be classified as a service industry? Search the Legal Library instead. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. The lender's policy protects the lender against title defects. A township has 36 parcels called "sections." NOI = Cap Rate x Value (sale price) All national chartered commercial banks are members of which entity? A) Demand is the desire and ability to purchase or lease goods and services B) Consumer preferences influence demand C) Changes in price cause an inverse change in demand D) The availability of building materials influences demand, The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply (page 415), Implement the comprehensive plan (page 427), Branch office of a bank is a service industry that services primarily local residents (page 425), Effective Age / Total Economic Life x Reproduction Cost New, 45 x 90 x .75 = $3,037.50 / 2 = $1,518.75, A professional office center is purchased for $475,000. Since seller hasn't received the money, it's not shown on the seller's statement. The Florida Consumer Protection Law is located at Fla. Stat. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. It does require that buyer, before signing a sale contract, receive an information brochure notifying the purchaser of the option for an EE rating on the building. Recording it in the public records shows that the mortgage lien has been removed. A real estate licensee purchased a home from the seller. For more information about the TCPA, contact the FCC at fcc.gov. Total $26,000, Tax advantages of owning a home do NOT include, Deductions of hazard insurance expense on a principal residence. (page 166), Developers of 20 or more new residential units must also prepare a PROSPECTUS and file it which summarizes the major points detailed in the condo docs. A closing is set for July 15. An agreement in which only one party promises to perform without receiving a reciprocal promise to perform from the other party is called a Unilateral contract The period of time during which the terms of a contract may be enforced according to the statute of limitations are Five years for written contracts and four years for parol contacts. Effective Age / Total Economic Life x Reproduction Cost New On the first of the month, the seller collected total rent for September amounting to $950. According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $92, and $76 per square foot for the garage. If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? Lynn Amherst is a sales associate for Excel Realty. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . Which list of appraisal methods is unique to the appraisal of business enterprises? For copies of the rules and commentaries relevant to your Internet enterprise, contact: Consumer Response Center, Federal Trade Commission, Washington, DC 20580; toll-free: 1-877-FTC-HELP begin_of_the_skype_highlighting 1-877-FTC-HELP end_of_the_skype_highlighting . D) Limited partners may participate in management activities of the limited partnership. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Facebook Instagram. We work to advance government policies that protect consumers and promote competition. Base: 14,500 Which list of appraisal methods is unique to the appraisal of business enterprises? The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? The right of the state to take property of a person who died intestate and without heirs is known as. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. 50 / 100. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee. A building is valued at $135,000 with an estimated 25-year useful economic life. A real estate licensee purchased a home from the seller. The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this "Agreement") is made and entered into as of February 19, 2014(the "Agreement Date"), by and among Facebook, Inc. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. deliver the deposit check to the employer by the end of business on Thursday. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? The brokerage can work with the buyer, in the same transaction, A sales associate receives a deposit from a buyer on Wednesday morning. Personnel engaged in any aspect of telemarketing must be . The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be in writing and signed to be enforceable. A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. The buyer did not accept the seller's counteroffer. 52,000 - 95.36 = 51,904.64 a. In addition, truth-in-advertising standards apply if . Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, Franchises, Business Opportunities, and Investments, https://www.federalregister.gov/regulations/3084-AA98/telemarketing-sales-rule, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fee; Final Rule That Updates Fees Charged To Entities Accessing the National Do Not Call Registry, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Notice (Telemarketing Sales Rule), Telemarketing Sales Rule Information Collection Activities; Proposed Collection; Comment Request, 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose, 16 CFR Part 310: Telemarketing Sales Rule Fees; Notice Advising That There Will BE No Fee Increase for Accessing the National Do Not Call Registry for Fiscal Year 2016, 16 CFR Part 310: Telemarketing Sales Rule; Extension of Comment Period for Rule Review to November 13, 2014, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Amending TSR Fees Charged to Entities Accessing the National Do-Not-Call Registry, as Required by the Do-Not-Call Registry Fee Extension Act of 2007, 16 CFR Part 310: Telemarketing Sales Rule Federal Register Notice: Rule Review Request for Public Comments as Part of the FTCs Systematic Regulatory Review, Modified Ten-Year Regulatory Review Schedule; Notice of Intent to Request Public Comments, 16 CFR Part 310: Telemarketing Sales Rule; Notification of Termination of Caller ID Rulemaking Federal Register Notice, 16 C.F.R. A lead-based paint disclosure must be given to A) tenants and buyers of all rental property if a family member is younger than three. The Georgia licensee. Which lien is classified as a voluntary lien? Use the actual number of days in the closing month when determining the time line. Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? It was first signed into law by President George H.W. D) Principal payments remain constant while interest payments increase. A) Limited partners must register with the FREC under the limited partnership name. These presidential actions can include executive orders, presidential memoranda, and proclamations. Monthly payments remain constant, and the interest portion comprises the majority of the payments. Open All + 633.33 debited to seller and credited to buyer. C) Federally related transactions involve a federally insured financial institution. RESPA disclosures at time of loan or within 3 business days of: A) A section is a square one mile on each side B) A section contains 640 acres C) A section contains 43,560 square feet D) A section has an area of one square mile, The FALSE statement is the a SECTION contains 43,560 sf. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? Includes: 1.1 - 1.4, in response to questions of general public interest. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. RE R V RE EVERE E R Vol. What is the adjusted sale price of the comparable? On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. A comparable property recently sold for $315,000. The licensee sued the seller's broker and was awarded a judgment. tenants and buyers of all residential property built before 1978. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which type of listing allows the seller to list the property with other brokers? Which law prohibits racial discrimination in the sale or lease of all real property without exception? Implement the comprehensive plan -local gov't exercise police power by regulating and controlling the use of land and structures within designated land-use district or zoned. Use the actual number of days in the closing month when determining the time line. How will the property taxes be entered on the closing statement? Real estate licensees may not represent a CMA as an appraisal. Securities registered pursuant to Section 12(g) of the Act: None. A person applies for a mortgage loan from a local credit union. A brokerage firm represents a seller as a single agent. The Telephone Consumer Protection Act of 1991 (TCPA) was passed by the United States Congress in 1991 and signed into law by President George H. W. Bush as Public Law 102-243. Which statement applies to this situation? Telemarketing also includes sales solicitations via fax, the Internet and mail, if the consumer is encouraged to respond via the telephone, fax . (page 247). Mortgage interest A developer advertises homes for sale with a total down payment of $2,000. The street in front of your house is to be paved at a cost of $45 per foot. (page 99), Moral Turpitude involves conduct contrary to honest, good morals, accepted custom (i.e. A commercial tenant pays a fixed rent each month. B) The Department of Veterans Affairs partially guarantees VA mortgage loans. The National Do Not Call Registry is a database maintained by the United States federal government, listing the telephone numbers of individuals and families who have requested that telemarketers not contact them. NOI and Sale Price. The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services. Which statement regarding a limited real estate partnership is TRUE? Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? Accretion is the process of land buildup from water-borne rock, sand, and soil. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). Federal government websites often end in .gov or .mil. Referred to as Florida's "Mini-TCPA," this new law, CS/SB 1120, updates the Florida Consumer Protection Law and the Florida Telemarketing Act. Which business would be classified as a service industry? The building has an effective age of five years. The land value is 20 percent of the total acquisition cost. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? What is the final step in the real estate sale process? The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. This arrangement is. 2. refinancing of real property or interests in real property Telemarketing involves situations in which companies call consumers to sell their goods or services, or consumers call companies to make purchases in response to mailings or other forms of advertising. The Georgia licensee. A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. Recording it in the public records shows that the mortgage lien has been removed. Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo A) Only veterans, surviving spouses of veterans, and active military personnel are eligible to apply for a VA loan. The brokerage can work with the buyer, in the same transaction. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage.