Times/Dates Flashcards Preview

Real Estate Exam Terms > Times/Dates > Flashcards

Flashcards in Times/Dates Deck (31):
1

3 days

after delivery of TDS in person to buyer, for buyer to terminate his offer in writing

2

3 business days

after loan documents signed; truth-in-lending right to rescind

3

5 days

after delivery of TDS by mailing to buyer, for buyer to terminate his offer in writing

4

1 week

after closing, the broker/escrow must record trust deed

5

7 calendar days

buyers have until midnight of the seventh calendar day to rescind the purchase contract in a timeshare subdivision

6

10 days

to post and record a Notice of Nonresponsibility

7

10 days

for a broker to recommend a lender record a trust deed

8

10 calendar days

for agent to report sale of registered mobilehome to Dept. of Housing and Community Development

9

15 days

for an owner/landlord to return a copy of the written lease of rental agreement to the tenant

10

21 days

landlord must return security deposit to tenant

11

25 days

a broker must remove earned fees in excess of $200 from his trust account

12

Monthly

a broker must reconcile his/her client trust account monthly

13

Property Tax Year

July 1 - June 30

14

1 year or less

oral lease of real property

15

1 year

from the date you took the exam to apply for your real estate license after you pass the exam

16

1 year

to file a Rumford Act complaint with the Dept. of Fair Employment & Housing

17

More than 1 year

lease of real property must be in writing

18

2 years

grace period to renew your real estate license after it expires

19

2 years

to sue an agent for failure to disclose defects in the TDS

20

3 years

keep all real estate documents

21

3 years

to sue a neighbor to have an encroachment removed

22

3 years

for overages in a trust account to be turned over to the Controller's office

23

37 months

promotional note is no longer a real property security

24

4 years

must renew sales and broker licenses

25

5 years

possession required to take title by adverse possession

26

5 years

usage to create an easement by prescription

27

5 years

non-use terminates an easement by prescription

28

5 years

DBA expires

29

27.5 years

minimum depreciation period for residential income property (apartment buildings)

30

39 years

minimum depreciation period for non-residential income property (commercial buildings)

31

1968

Jones v. Mayer, established the 13th Amendment as a basis for Fair Housing Laws