Chapter 5-8 Important Dates and Time Periods to Remember Flashcards Preview

Real Estate State Test Prep > Chapter 5-8 Important Dates and Time Periods to Remember > Flashcards

Flashcards in Chapter 5-8 Important Dates and Time Periods to Remember Deck (26):
1

Number of days to correct minor infraction listed in notice of noncompliance

15 days

2

Number of days after which a final order becomes effective

30 days

3

Time period to file an appeal

30 days

4

Number of days licensee hast to accept or file a written objection to a citation

30 days

5

Penalty for second-degree misdemeanor

60 days and/or $500 fine

6

Penalty for first-degree misdemeanor

One year and/or $1,000 fine

7

Time period allowed to file claim against recovery fund

2 years

8

Maximum period of suspension

10 years

9

Time period after notice is posted by sheriff that eviction will take and place landlord recovers the property

24 hours

10

Number of days to give information booklet concerning settlement cost to loan applicant (or at time of loan application)

3 business days

11

Number of days for lender to provide APR disclosure (or at time of loan application)

3 business days

12

Number of days to give loan applicant an estimate of settlement costs (or at time of loan application)

3 business days

13

Number of days borrower has the right to cancel the right to cancel the loan contract following signing loan documents for home equity lines of credit, second mortgages, and refinance loans

3 business days

14

Time period allowed to cancel contract under the Interstate Land Sales Full Disclosure Act

7 days

15

Number of days for landlord to return security deposit if not making a claim on deposit

15 days

16

Time period for tenant to file a written objection to the landlord's claim on deposit

15 days

17

Number of days for landlord to notify tenant if making a claim on the deposit

30 days

18

Number of days to inform tenant regarding how funds are being held

30 days

19

Notice to cancel resale cooperative or condominium contract

3 business days

20

Notice required for week-to-week tenancy at will

7 days

21

Notice to cancel time-share contract

10 days

22

Notice required to cancel month-to-month tenancy at will

15 days

23

Notice to cancel cooperative or condominium contract with developer

15 days

24

Number of days to file a construction lien (retroactive to the date of the first delivery of material or the first day of work)

90 days

25

Number of years of hostile possession to claim adverse possession

7 years

26

Minimum time period of uninterrupted use to create an easement by prescription

20 years