- A person appointed by the court to carry out the terms of a
will not specifying an executor or to manage the affairs of a person who has died
intestate
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- One who benefits from the operation of a trust. One who
receives the proceeds of a will or insurance policy
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- Any person, corporation, or other entity who directly or
indirectly sells, exchanges, buys, rents or auctions real property or any interest therein
on behalf of another for consideration
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- The person ultimately responsible for all of the activities
of a corporate broker
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- One licensed as a broker but acting in the capacity of a
salesperson or office manager under the employ of another broker
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- The illegal practice of combining the broker's or agent's
funds with the funds of others
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- A legal entity formed by the operation of law through which
business is transacted
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- Partial payment of the total purchase price as evidence of
good faith usually paid with an offer to purchase
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- The only place a salesperson or broker-salesperson may
collect a real estate related commission from
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- The deposit of money, instruments or documents with a third
party to be held until the closing of a transaction
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- A person named in a will to carry out the terms of the will
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- A marketing and listing technique in which all of the homes
in a selected area, called a farm, are repeatedly solicited and worked for future business
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- Under certain conditions, the fund used to compensate people
who have been financially harmed at the hands of a licensee
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- The laws and regulations pertaining to the real estate
brokerage business were primarily created to protect the:
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- An insurance program available to home buyers that protects
against certain physical defects
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- An agreement filed with the Real Estate Commission by an
out-of-state licensee which states that any legal action brought against him may be
accomplished by service on the commission
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- Wording required to appear on the exterior of a licensed
office
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- The broker or real estate office that initiated or secured
the listing agreement
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- Where all licenses are displayed
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- The medium by which brokers pool or share their listings to
gain the greatest exposure for their clients
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- One who resides in another state
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- A public officer authorized by the state to take
acknowledgements, attest or certify documents as being authentic
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- The division of income or an expense proportionately between
parties
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- Statements made not as a representation of fact but more as
a personal opinion and usually recognizable as such
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