Additional Topics (9 items, 12%) Flashcards Preview

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Flashcards in Additional Topics (9 items, 12%) Deck (23)
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1

*Property Mgmt Agreements*

A management contract between a brokerage and a landlord must be in _______ and filed with the ______ _____ .

writing

employing broker.

2

*Property Mgmt Agreements*

Property management must be included in the written ________ ________ manual and activities must be in the name of the _________ __________.

office policy

employing broker.

3

*Property Mgmt Agreements*

Funds received on behalf of the owner must be deposited within __ business days.

*Management fees are withdrawn from the trust account only after being ____ ____. *

5

fully earned.

4

*A purchaser of a time-share has __ ________ days following receipt of all required information to _______ the contract in writing.*

5 business rescind

5

Called the '_________ ____' period, the consumer does ____ need to state a reason for rescinding and all payments made must be refunded within ___ days of the written notice.

'cooling off'

 

not, 30

6

Colorado law provides for a ___-day expedited eviction of certain '____________ and ___________ persons.'

3 undesirable and dangerous

7

Taxes are assessed for the previous year on ________ _.

January 1.

8

Since a ____ _____ attaches to a property at the time of assessment, to avoid delinquency charges, all tax payments just be sent by the scheduled _________ dates *allowing the tax-payer to pay the full amount by the end of _______

OR the first half by the end of _________ and the second half by _______ ___th.

tax lien

payment

April

February, June 15th.

9

Property taxes assessments are based on a ____ _____ that is subject to change on an ________ basis.

mill rate annual

10

*Annual property taxes are determined by ______________ the mill levy times the _________ value as assessed by the county. *

multiplying property

11

An uninterrupted long-term use of the property without the owners _________, such as an individual regularly driving through an undeveloped land to get to his property is called a *__________ __________.*

consent prescriptive easement.

12

The owner of ______ should serve a written notice showing the intent to dispute any claims of adverse ____________.

land

possession.

13

*Any real property divided into ___ or more residential interests offered for sale, lease, or transfer must be registered as a ____________.*

20 subdivision.

14

*AD VALOREM*

Latin meaning "________ to ________" - 

normally used to describe a tax based on the _________ value of real property.

according to value assessed

15

*CONDOMINIUM OWNERSHIP*

A common interest _________ in which portions of the real estate are designated for ________ and the remainder is designated for _______ ownership.

Condos are transferred by _____.

community

ownership

common

deed.

16

*EASEMENT BY NECESSITY*

An easement that must be given to allow a buyer of land, ________ to the real property, also called __________ of law.

access

implication

17

*EQUITABLE TITLE* The buyer's ___________ in real property after the sales contract has been accepted until closing.

interest

18

*NEGILIGENCE*

Failure to exercise the ______ toward others that a reasonable or prudent person would exercise in the same circumstances,

or taking ______ that a reasonable person would not take.

 

Negligence occurs when a licensee should have known that ____________ statements were being relied on as ________ facts.

care;

action

 

incorrect, material

19

*TIME SHARE*

An ________ interest in real estate, whereby ownership or occupancy rights circulate among the various ________  owners.

Ownership is ___________ or by ___________   - and must be registered.

interval; interval

contractual or membership

20

The Colorado ______ __________ Commission handles fair housing complaints.

A complaint must be filed with the Colorado court within ___ year of the alleged discriminatory incident or filed directly with the federal court within __ years.

Civil Rights

 

one year

2 years.

21

The Colorado ____ _______ law adds several protected classes to the federal law including: -creed -ancestry -marital status.

The ________ law (and Colorado) includes:

-race

-color

-religion

-national origin

-sex

-familial status

-physical handicap.

fair housing (CAM) 

federal law (RCRNSFP)

22

_______'s Law requires that certain sex offenders register with local police in the area where they ______.

Megan's live.

23

*A Commission Position statement advises all licensees to refer inquiries about ___ _______ living in an area to the appropriate local and state law __________ agencies.

sex offenders

enforcement