chapter 2 Flashcards
Adjudication Withheld
Where a judge orders some sanctions, but does not formally convict the defendant of a criminal offense, usually granted when a defendant is facing a first misdemeanor or felony conviction.
Broker
A person who provides real estate services for another for compensation.
Broker Associate
Is qualified to be a broker but who chooses to work as a sales associate under the direction of another broker.
Compensation
Something of value received for a service performed or as recompense.
Expungement
Expungement results in the deletion of any record that an arrest or criminal charge ever occurred while a sealed record still “exists” in both a legal and physical sense.
Florida Resident
Resided in Florida continuously for a period of 4 calendar months or more in the preceding year or presently resides in Florida with the intention to reside continuously in Florida for a period of 4 months or more, beginning on the date that the person began the current period of residence in Florida.
License / Registration
A real estate license is granted to an individual and must be renewed every two years after the initial license period. Registration is the process of giving information to the DRE (Division of Real Estate), when real estate is practiced as a business entity rather than as an individual.
Mutual Recognition Agreement
An agreement between two states that allows one state to recognize the license and real estate education requirements of the other state. Florida has a mutual recognition agreement with Alabama, Arkansas, Connecticut, Georgia, Illinois, Mississippi, Nebraska, and Rhode Island.
Nolo Contendere / No Contest
Means “I will not contest,” a plea in a criminal case in which the defendant does not admit or deny charges and by doing so subjects themselves to a conviction as if they were found guilty.
Owner-Developer
Means any person who, for a third party purchaser, orders or supervises the construction, removal, repair, or improvement of any building or structure permanently annexed to real property owned, controlled, or leased by the owner-developer, or any other improvement to such property and who contracts with a person licensed in accordance with this chapter for the work undertaken.
Prima Facie Evidence
“At first sight” something that has been proven or assumed to be true unless there is evidence presented to the contrary.
Real Estate Services
Services that include but are not limited to the sale, lease or management of real estate.
Reciprocity
Known as a mutual recognition agreement that allows real estate licensees in other states to get their Florida real estate license more quickly by not having to take the required pre-license course. Florida offers reciprocity with Alabama, Arkansas, Connecticut, Georgia, Illinois, Mississippi, Nebraska, and Rhode Island.
Sales Associate
A licensed person who provides real estate services, for compensation, under the direction, control and management of a real estate broker.
Sealed
A document that is fastened up in any manner so as to be closed against inspection of the contents.
