Chapter 2 - Learning Objectives & Key Terms 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.
Caveat Emptor
“Let the buyer beware”.
Compensation
Something of value received for a service performed or as recompense.
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.
Nolo Contendere / No Contest
Nolo Contendere / No Contest
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.
Sales Associate
A licensed person who provides real estate services, for compensation, under the direction, control and management of a real estate broker.
Expungement vs. Sealing
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.
