Louisiana RealEstate
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| Louisiana real estate commission consist of how many members and how are they appointed | show 🗑
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| How long can real estate commission appointees serve | show 🗑
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| How long do you have to be a broker in order to become a commissioner | show 🗑
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| show | Quorum
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| show | Louisiana real estate commission. LREC
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| The head of the LREC and is an appointed member and calls all meetings to order as well as decide adjornment | show 🗑
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| show | False information
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| show | Subpoena
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| show | Stay of enforcement
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| If the LREC constitutes a prohibition of practice for a period of time and the requirement for the sponsoring broker or licensee to send license to the LREC for the duration of the term this is called | show 🗑
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| show | Censure
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| show | Revocation
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| show | Is to protect the public
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| The Louisiana real estate commission consist of how many members | show 🗑
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| show | Legislature
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| show | 6
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| You must be qualified electors of the state of Louisiana, citizens of the state of Louisiana, and business as a broker for at least five years in order to become | show 🗑
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| How many members constitute a quorum for commission business | show 🗑
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| show | Quarterly
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| show | 2
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| show | 3
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| show | $50 plus actual expense
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| Where is the commission domiciled | show 🗑
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| Who has the power and authority to regulate issuance of licenses, registrations and certificates, promulgate rules and bylaws for the enforcement of the license law and appoint an executive director? | show 🗑
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| show | Five years
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| The commission may inspect a brokers records when | show 🗑
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| show | investigate licensees
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| show | 20 days
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| In order to continue practicing real estate, any licensee found guilty by the commission must request a | show 🗑
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| show | Suspensive appeal bond
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| The real estate commission can fine up to how much? But they cannot do what | show 🗑
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| Any activity or attempted activity performed for another, for a fee, or the intention of a fee is known as | show 🗑
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| One who is currently licensed and has the right to operate as a licensee and has not been transferred to inactive status is a | show 🗑
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| The kind of. broker designated by a corporation, partnership or limited liability company as a company's representative for all matters relating to real estate commission is known as | show 🗑
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| show | A real estate salesperson
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| show | Timeshare registrants
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| show | Violation of license law
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| If you are receiving a commission you have to be licensed. Employees of Property managers are exempt under the law if they are | show 🗑
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| The maximum time allowed to remain inactive is | show 🗑
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| show | Individual broker
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| A broker designated by corporation to be the representative before the commission is known as the | show 🗑
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| The broker that works for another broker is called | show 🗑
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| A licensee that is not an associate broker that is sponsored by a sponsoring broker is called | show 🗑
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| People who sell timeshares are known as .... what are the requirements to become this | show 🗑
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| A broker applicant must have how many hours excluding the sales person hours | show 🗑
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| show | 30 hours
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| show | 90 classroom hours
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| In order to become a real estate salesperson a licensee applicant must qualify with these three things | show 🗑
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| show | December 31
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| show | Expired
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| show | Licensee
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| show | Agent
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| show | Client
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| show | Affidavit
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| Land and everything permanently attached to it whether natural or artificial is known as | show 🗑
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| A licensee who has obtained a listing of real estate to act as an agent for compensation is called a | show 🗑
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| show | Buyer
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| The marketing, leasing, our overall management of Real property for others for a fee, commission, compensation, or other valuable consideration is known as a | show 🗑
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| show | Buyers brokerage agreement
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| The discriminatory practice of persuading residence to sell their houses at Deflated prices because of an alleged social deterioration of the neighborhood is known as | show 🗑
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| If a broker advertises with just his initials this is considered to be | show 🗑
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| If a broker advertises using just his phone number what is this considered to be | show 🗑
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| show | Written authority from all owners
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| show | No Only certified appraisers can verify certified appraisal but anyone can estimate value
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| Only this type of property must include independently owned and operated and it's disclaimer | show 🗑
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| If a licensee list their property with a licensed broker is it a requirement for them to state in advertising that they are a real estate licensee | show 🗑
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| Trade names and trademarks must be registered with the | show 🗑
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| show | Louisiana real estate commission
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| show | In writing and hand-deliver it all delivered by certified\registered mail
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| A sponsoring broker is required to return licenses to the LREC within how many days of receipt of a request for transfer | show 🗑
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| When the commission demands that is sponsoring broker return a license, the broker must return the license to the LREC within | show 🗑
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| Written offers presented to a listing broker by a cooperating broker shall be presented to the owner how soon | show 🗑
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| show | At the same time
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| show | All offers that I reject it must be signed as rejected by the owner or annotated by the agent as rejected at some point
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| show | Suspended
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| If a sponsoring broker license is suspended there will be no charge for transferred by a sales person if the transfer is done within | show 🗑
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| show | Your Broker
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| If someone sold a house but the closing was delayed until after their renewal time and they decided not to renew their license then are they allowed to receive their commission | show 🗑
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| show | The persons with her on the license he is working
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| show | At the time of the first face-to-face contact
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| show | Five years
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| show | Is before showing a house or before any transactions are entered into
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| Who is in charge of how to deal with escrow deposits transaction stated in writing | show 🗑
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| show | opened or closed
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| show | 60 days
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| show | Escrow accounts must be maintained until money is legally dispersed
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| show | Only oil gas and other minerals are specifically excluded
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| show | All listing agreements must be in writing and must specify a definite expiration date that is not subject to any conditions
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| show | 4 licenses
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| Branch office locations may be supervised by a | show 🗑
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| If a client signed a document, the client must be given a copy of that document | show 🗑
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| show | Within 5 days
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| According to the license law listing agreement must specify | show 🗑
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| show | Blockbusting
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| show | No
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| show | When requested by the LREC
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| Things, Personal things, corporeal things are all included in | show 🗑
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| show | Corporeal movables
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| Incorporeal things have | show 🗑
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| show | Private things
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| Streets and Public Square is our examples of | show 🗑
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| show | Common things
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| show | Immovable
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| show | Both land and component parts
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| An immovable maybe classified as a movable by | show 🗑
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| show | Incorporeal movables
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| show | Separate immovables
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| Unharvested crops and Ungather fruits of trees that belong to a party other than the land owner are | show 🗑
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| show | 5/6 or 0.8507 of an acre
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| As a linear measurement know as an arpent is how many feet | show 🗑
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| show | 33.33 inches
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| What are the two meridians in Louisiana | show 🗑
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| Sections with more or less than 640 acres are called | show 🗑
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| show | Incorporeal movables
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| The way to dispose of by consumption, sale, and conference or gift is called | show 🗑
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| show | Servitude
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| The real right of limited duration on the property of another is called | show 🗑
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| show | Habitation
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| A personal servitude that confers in favor of another person a special use of an estate less than full enjoyment is called | show 🗑
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| A charge on one property for the benefit of another property | show 🗑
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| Real estate that is occupied and used as the principal residence of the owner and the owner's family is known as a | show 🗑
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| In Louisiana the right to alienate is known as | show 🗑
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| In Louisiana the right to collect rent is known as | show 🗑
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| show | Usufruct
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| show | Personal servitude
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| A usufruct may be established by | show 🗑
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| A Usufructurary may be leased, alienated or encumbered but this contract will terminate when | show 🗑
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| Default of a prior mortgage is a reason that usufruct will | show 🗑
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| show | Habitation
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| show | Right of use
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| This is fully transferable and inheritable and can be held by any legally defined person | show 🗑
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| In order to have this there must be two properties involved in Louisiana | show 🗑
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| The property benefited by the pre-dial servitude is called the | show 🗑
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| show | Contract
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| If a noticeable violation of a building restriction occurs and nobody stops it after a certain period of time the right to stop the violator no longer exist this is called | show 🗑
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| Under the law, after how long of noticeable violation is a movable is freed from a building restriction if no one sues to stop the violation | show 🗑
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| show | Co- ownership
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| show | Matrimonial regime
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| show | Separate property
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| show | Partnership
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| show | Condominium
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| show | Full ownership
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| When one married person owns the entire property as separate property with no co-owners this is called | show 🗑
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| When one corporation owns the entire property with no co-owners this is called | show 🗑
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| show | Co ownership
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| show | Co ownership
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| When married people own an undivided 1/2 interest in property this is called | show 🗑
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| show | Without
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| When two or more persons own the same thing, it has | show 🗑
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| When spouses own in community, each spouse owns | show 🗑
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| show | In community
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| The law that state property of married persons is classified as either community or separate is known as the law of | show 🗑
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| Property owned before marriage, received my gift, inherited by one spouse during the marriage is considered | show 🗑
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| A properly created contract where as legal person's are separate and distinct from its partners is known as | show 🗑
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| The limited partnership in Louisiana is called | show 🗑
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| show | General partnership
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| And this type of partnership there must be at least one general partner who is responsible for all liability of partnerships above the investment of other partners | show 🗑
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| show | Louisiana condominium act
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| show | Onerous
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| The legal fact that the person that inherit property is the owner at the moment of death of the diceased is called | show 🗑
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| The donation of property because of death is called the donation | show 🗑
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| show | Disposable portion
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| The appropriate use of power of eminent domain by federal and state governments is called | show 🗑
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| show | Quick taking
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| The ownership of a movable property acquired by possession for a period of time | show 🗑
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| The donation of property while living is called | show 🗑
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| show | Donation Mortis Causa
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| show | renumerative
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| show | Gratuitous
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| Those who inherited by testate succession are called | show 🗑
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| show | Testate successors
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| A forced portion of an estate in Louisiana is called | show 🗑
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| Adopted children can inherit from both | show 🗑
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| If there is only one child what is a disposable portion of an | show 🗑
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| What is the first portion of an estate if there are two or more children | show 🗑
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| If a person dies without a will who gets their property and how much they get is decided by the law of | show 🗑
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| The act of the government and taking private property for public use is called in Louisiana | show 🗑
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| The right of the government to take the private property for public use is called | show 🗑
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| show | Appropriation
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| show | Quick taking ......property could be taken in as little as 10 days
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| When you have a title but actual use is with someone else this is known ass | show 🗑
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| The law possession says that if you possess immovables in good faith for more than how many years you can acquire the right of ownership | show 🗑
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| show | 30 years
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| show | Obligation
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| show | Gratuitous contract
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| A contract is one in which the performance of each parties application depends on an uncertain event | show 🗑
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| show | Novation
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| And acceptance not in accordance with the terms of the offer is known as | show 🗑
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| A contract that may be affirmed or denied by a party, but is not null unless action is taken to make it so is called | show 🗑
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| A remedy in which the court will grant in certain cases, compelling the defendant to perform or carry out the terms of a valid, existing agreement or contract | show 🗑
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| show | oral, written, implied
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| When the performance of either parties obligation depends on an uncertain event this is known as a | show 🗑
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| When one party is obligated for the benefit of the other but received no advantage in return this is not an as a | show 🗑
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| show | Unilateral contract
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| show | Synallagmatic or bilateral contract
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| show | Confusion
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| An offer with a termination date for the offer in Louisiana and said to be | show 🗑
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| An offer without a termination date for the offer in Louisiana is said to be | show 🗑
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| An offer with a termination date for the offer but also a clause that states the offer maybe withdrawn before acceptance in Louisiana is said to be | show 🗑
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| By law a counter offer is, in fact an | show 🗑
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| show | Cause
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| show | Relatively Null
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| show | Absolutely Null
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| A contract with no deposit of money is known as a | show 🗑
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| The remedy for default in an earnest money contract is | show 🗑
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| show | Specific performance
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| show | Contract to sell
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| show | Contract of sale
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| show | Authentic act
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| The right to have a sale resend it or the price reduced to a hidden defect which, had the buyer know of it, would have cost him or her to offer a lesser price or not act at all it's called | show 🗑
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| The legal limit of time for a buyer to bring action, for example within four years from the date of delivery sale or one year from the discovery of defect, whichever occurs first is known ass | show 🗑
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| show | Exchange
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| show | Contract to sell
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| This is called a deed in most states. It may be identified by a cash sale a credit Seo what document that proves they worth a transfer | show 🗑
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| show | Authentic act
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| A conveyance signed by the parties but not before a notary is called a | show 🗑
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| show | Lesion beyond Moiety
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| The right to resend a sale when the price pay is less than half the value is limited to how long | show 🗑
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| show | And implied warranty
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| A buyer has how long to resend a sale because of hidden defects? | show 🗑
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| show | Redhibition
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| show | Right of Redhibition
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| When the seller keeps legal title while the buyer makes the payment this is known as | show 🗑
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| show | Exchange
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| show | 1 year
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| The seller does not have to know the defect was present to be held liable under what | show 🗑
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| show | Bond for Deed
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| show | 45 days
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| The privilege granted persons who contract for the improvement or modifications of an immovable is called | show 🗑
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| A nonpossessory right granted to a creditor over a debtor's property for security of a debt or obligation is called | show 🗑
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| show | Lien theory
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| show | Assumption
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| Laws that set the maximum legal rate of interest are called | show 🗑
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| This is 1/10 of one cent or $0.001 and is used to compute property tax | show 🗑
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| In Louisiana the word for prevledge is | show 🗑
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| A right granted to a seller for the unpaid sales price is known as the | show 🗑
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| A mechanics lien must be filed within how many days after the last work is done on the project to get the special protection | show 🗑
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| Under Louisiana's system, who has the title to the property doing the loan when there is a mortgage | show 🗑
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| show | After-required doctrine
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| show | In rem
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| show | Ne Varietur
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| A mortgage stipulated by law is called a | show 🗑
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| show | Mortgagee
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| show | Pact de non Alienanado
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| show | Due on sale
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| show | Subject to
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| Foreclosure by ordinary process is also known as | show 🗑
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| Under Forclosure with appraisement the property must be appraise and sell for at least how much of the value | show 🗑
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| show | Confession of judgment
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| These are not considered interest under Louisiana law | show 🗑
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| show | A mill
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| The assessed percentage for a residential apartment complex is what percent | show 🗑
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| show | 10% for land and 15% for building
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| show | $7,500
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| Penalty and interest or charges on delinquent taxes is recovered at | show 🗑
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| show | A tax certificate but does not own the property yet
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| The tax redemption. In Louisiana is how many years | show 🗑
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| show | Taxes interest penalties and cost
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| This permits one person to reside on the land of another | show 🗑
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| These leases are granted by Civil Code with respect to the relationship, right and responsibilities of the parties | show 🗑
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| show | Term
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| show | Non-farm lease
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| show | Month to month
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| A non-farm lease, a tenant that stays one week into a month without opposition may stay | show 🗑
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| A Farm lease without a definite termination date is presumed to be for | show 🗑
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| A farmer that stays on a farm lease for one month without opposition after expiration is allowed to remain on the form for another | show 🗑
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| show | 10 days
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| Under Louisiana law lessor must give the Lessee how many days notice before evection for nonpayment of rent | show 🗑
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| show | The deposit
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| In agreement for brokerage services to be provided to a person in return for compensation all the right to receive compensation from another is known as a | show 🗑
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| show | Designated agency
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| An agency relationship in which a licensee is working with both buyer and seller or both landlord and tenant in the same transaction is known ass | show 🗑
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| Those acts that a licensee may perform for people that are informative and nature are called | show 🗑
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| show | Agency
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| show | A client
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| A licensee named by a broker as the agent of a client | show 🗑
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| show | Subagency
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| Information given by a client that could materially or potentially harm the position of the client is known as | show 🗑
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| The point in any conversation related to a real estate transaction where confidential information is either solicited or received is known as | show 🗑
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| When the performance of each party is correlative to the performance of the other | show 🗑
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| show | Honors contract
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
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talk2wdv
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