Real Estate License Law And Commission Rules Flashcards
(13 cards)
Ministerial duties
The duties of the Division of Real Estate that invoke record keeping
Executive powers or FREC
Duties related to the education of licensees, the regulating of professional practices, and the publishing of materials.
Quasi-legislative responsibilities of FREC
Powers delegated to the FREC to enact rules and regulations, decide questions of practice, and validate records (imprint with FREC’s seal).
Quasi-judicial responsibilities of FREC
Powers delegated to FREC to discipline real estate licensees for violations of real estate license law and FREC admin rules
Active license
A current, valid license registered with the DBPR. The status required to actively engage in the real estate business.
Voluntary inactive
The license status that results when a licensee has met all the requirements for licensure, yet the licensee chooses not to engage in the real estate business and has requested that the license be placed in this status
Involuntary inactive
The license status that results when a license is not renewed at the end of the license period.
Null and void
The license status when a sales associate has failed to successfully complete post-license education prior to the first renewal of the license or when a licensee has failed to renew two or more renewal cycles; the license status has been involuntary inactive for more than 24 months
Voluntarily Relinquish
The licensee requests that the DBPR cancel the license.
Cancel
A license ceases to exist. Effective as of the date approved by the commission.
Cease to be in force
A licensee cannot perform real estate services because certain events occur, such as when a broker changes business address.
Multiple licenses
Licenses held by a broker in two or more real estate brokerage firms.
Group license
A right granted to a sales associate or broker associate to work various properties owned by affiliated entities under one owner developer.
