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TermDefinition
Branch Office A secondary place of business apart from the principal or main office which real estate business is conducted
Guilty Knowledge Awareness of wrongdoing without any attempt to stop it
Letter of Intent A nonbinding (usually) recitation of what the parties intend to do, preceding entering into a contract
Probation The lease serve discipline available to the Real Estate Commission (REC)
Revocation An act of recalling a power of authority conferred, as the revocation of a power of attorney, a license, or an agency
Suspension The temporary lifting of a real estate license by the commission
Trust Account Escrow account for money belonging to another
Waiver of Broker Cooperation Seller's statement that only one office will be marketing the property
Created by: MAK89
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