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Unit 3

Definitions

TermDefinition
active license A current, valid license registered with DBPR. The status required to actively engage in the real estate business
cancel A license cease to exist, effective as of the date approved by the Commission, and does not involve disciplinary action
cease to be in force A licensee cannot perform real estate services because certain events occur, such as when a broker changes business address
current mailing address The residential address is a licensee uses to receive mail through the U.S. Postal Service
current status Indicates a licensee is up to date with respect to the DBPR's licensure requirements
executive Duties related to the education of licensees, the regulating of professional practices, and the publishing of materials
group license Right granted a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer
involuntary inactive The license status that results when a license is not renewed at the end of the license period
ministerial duties Duties of the Division of Real Estate that involve recordkeeping
multiple licenses Licenses held by a broker in two or more real estate brokerage firms
probation Administrative penalty imposed by the FREC that allows the licensee to continue to practice real estate under the guidance of the FREC for a period of time while completing conditions by specified by FREC
promulgates Formal act of announcing a statute or an administrative rule. To publish and officially announce a new or amended rule or statute. FREC may promulgate rules and regulations
quasi-judicial Powers delegated to the FREC to discipline r/e licensees for violations of r/e license law and FREC administrative rules
quasi-legislative Powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC's seal)
voluntary inactive License status that results when a licensee has met all the requirements for licensure, yet the licensee has met all requirements for licensure, yet licensee chooses not to engage in r/e business and has requested the license be placed in this status
voluntary relinquish (for permanent revocation) Licensee-respondent may choose to avoid a disciplinary hearing and relinquish the r/e license in lieu of discipline, permanently revoking the license
null and void License status when sales associate failed to successfully complete post-license education prior to first renewal of license or when a licensee failed to renew two or more renewal cycles; license status has been involuntary inactive over 24 months
Created by: happythivo
 

 



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