Legislative intent. The intent of the General Assembly in enacting this statute is to evaluate the competency of persons engaged in the real estate profession and to regulate their activities for the protection of the public. (Source: P.A. 101-357, eff.
What is the purpose of the real estate license law quizlet?
Which government agency is responsible for enforcing the Texas real estate license Act?
The TREC enforcement team members carry out the Commission's mission to protect consumers by enforcing The Real Estate License Act, Rules of the Commission, Chapter 1102 of the Texas Occupations Code regarding Real Estate Inspectors, and the Texas Timeshare Act.
Who is responsible for licensing and regulating all real estate brokers in the state of North Carolina?
North Carolina Real Estate CommissionNorth Carolina Real Estate Commission.
What are the purposes of real estate?
It can be used for residential, commercial or industrial purposes, and typically includes any resources on the land such as water or minerals. Real estate is generally the most valuable asset a person can acquire as it typically appreciates over time.
Which contract may not be prepared by a real estate licensee?
Because very few real estate licensees are attorneys, real etsate brokers and sales associate may not prepare deeds, mortgages, promissory notes, or most other legal documents. Licensees who prepare such instruments could lose their licenses, regardless of whether they receive compensation.