Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Colorado > Colorado > Flashcards

Colorado Flashcards

1
Q

Who may never prepare the addendum

A

Title company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Safe guard

A

a measure taken to protect someone or something or to prevent something undesirable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

An employing broker can pay part of his commission to

A

Am employing broke in another state

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What’s the primary difference between mortgage brokers and mortgage bankers

A

Mortgage brokers arrange loans between lenders and borrowers

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Rescind

A

To cancel

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Designation would best be covered

A

The office policy manual

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

A brokers purchasing property for his own used him a

A

Disclose his licensing status in writing 

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Which of the following required to when a broker takes a listing

A

A definition date for termination

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

The landlord must return the tenants security deposit within

A

One month

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

The Colorado homestead exemption unless waved will protect a home

A

From any debt

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Statutory power of attorney for property

A

Maybe used to grant an agent powers to sign with respect to the property and other matters

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The acronym MEC in the contract to buy and sell means

A

Latest day upon with both parties have signed

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

If the title commitment or title documents are not deliver to the buyer on the date specified in the contract contract may be

A

Terminated with the appropriate form

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

The purpose of the broker signing in the brokers acknowledgment is to acknowledge what

A

Receipt of earnest money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

If the buyer is in the fall and sellers remedies a specific performance

A

The specific box must be checked

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

The buyer has the right to walk through the property prior to closing the purpose of the walk-throughs to

A

Verify the physical condition complies with a contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Under a real estate commission rule F which of the following can be omitted in the printing of contract buy and sell

A

Financing terms not applicable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Which of the following would not been approved deed of trust for the seller carry back

A

Due on transfer not more than 1% escalation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

The licensee buy out addendum is to be used when the licensee is

A

Guaranteeing to purchase the listing if it doesn’t sell

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Broker must keep which of the following records to properly account for money belonging to others

A

Ledger journal bank reconciliation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

A property manager must deposit recollection in a trust account no later than

A

Five business days after rent is received

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Earnest money must now beDeposited in a listing brokers trust account not later than the

A

Third business day after the broker received notice of acceptance of the contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Which of the following trust accounts record show all transactions

A

Journal

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

A broker for a corporation is keeping trust accounts such separate accounts must be maintained

A

In the name of the broker and in the name of the corporation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

The purpose of closing instructions and earnest money receipt is to

A

Agree on a closing fee
allow the closing company to receive and disperse funds
Assure how seller will receive the net proceeds

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Who or which of the following is responsible for a complete accurate and detailed closing statement

A

Broker who personally established a relationship

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Who is typically responsible for the preparation of the dead

A

Broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What is a debit credit entry for loan assumption

A

Credit buyer and debit seller

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

How were the earnest money held by a broker be entered on the closing statement

A

Credit buyer and debit broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Title insurance for the buyer will be paid by

A

Seller

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

The Colorado documentary fee is paid at closing and is based upon the

A

Sales price and paid by the buyer
1 penny for ever 100 $
0.01x sales price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Interest on an owner carry new owner carry loan will be calculated on the statement as

A

Principal times the interest rate divided by 365 days times the days from closing to the end of the month

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

A Broker wishes to retain agency status except when selling his own listing how can this be done

A

The listing form allows for this

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

You may do which of the following as a transaction broker working with a buyer

A

Inform the seller that’s a buyer cannot afford the property at the offer price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

As a single agent for the buyer you’ve been instructed not to inform the seller that the buyer does not intend to occupy the property

A

The contract to buy and sell provides for truthful disclosure

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

I may or may not buy your home I have

A

An option contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

Binding

A

In agreement that’s legally enforceable

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Relating to group errors and omissions insurance the real estate commission

A

Shall select a competitive bidding process

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Colorado license law does not require employing broker us to

A

Adhere to the code of ethics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

 A broker associate doing general mailing and recapping the sales in an area over the last year

A
  • should cite the course of the data
  • include disclaimer that all sales were not necessarily listed or sold by licensee -separately identify the licensees on sales activity
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

Water Colorado is considered to be

A

Owned by the people of Colorado

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

Subsurface rights  our address and what section of the Colorado contract to buy and sell real estate

A

Title advisory

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

Colorado fair housing act provides protection to the buyer of what type of property that is not included in federal fair housing act

A

Commercial

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

What does Colorado fair housing act cover

A 
Race
Color
Religion 
National origin 
Gender
Disability 
Familial status 
Sexual orientation 
National origin 
Creed
Marital status
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

Federal fair housing act covers

A 
Race
Color 
Religion
Disability 
National origin
Gender 
Disability 
Familial status
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Special taxing districts disclosure is required and which of the following

A

Contract to buy and sell real estate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

Colorado use tax would be due for which of the following transactions

A

Transfer personal property in the sale of a business opportunity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

Uniform duties purpose of real estate commission setting forth these duties as to

A

Better educate the public as well as the brokerage community

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

According to the contract to buy and sell their earnest money deposit must be given to a listing broker

A

With the offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

Rule F allows a broker to complete standard forms with the commonly using wording this means

A

Wording can be adapted to fit your transaction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

They earnest money release form approved by the commission would be used

A

For optional use by the broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

Disclosure form allows if you were the agent for the seller and you have no relationship with the buyer you can continue to work as an agent of the seller

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

Trust accounts must be reconciled

each month that activity has occurred

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

A broker could manage property and use the sales trust account to deposit rental money if the broker manages less than seven single-family residential properties

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

With a Colorado closing the notary fee will be paid by

the Party that signed the document being notarized

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

Colorado property taxes for the current year would be entered on the settlement statement

A

Debit seller credit buyer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

In a new loan closing the net loan proceeds represents the amount due from the lender and would be computed by which of the following New loan less cost paid by the seller for both buyer and seller

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

Closing statements would be signed by the

licensee who has relationship to the party

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

The total a broker credit should equal the total of brokers debits

A

Brokers debit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

The total Broker debt entry represents An amount received which equals

the amount paid out by the broker

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

Colorado real estate commission Rule 35 requires Brokers to

A

Make written disclosure of their brokerage relationship before electing a receiving confidential information

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

The change of status form must be signed

A

At the time it Broker changes from agent to transaction broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

Your seller client want you to retain your agency status at all times unless you personally saw the property

A

You can agree by checking appropriate box in the listing contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

A designated broker

A

Assist one or more parties as an Agent or transaction broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

A mold is closure may not be copied from other firms should be composed and created by individual companies attorneys is not a required state form

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
66
Q

Home warranty programs when purchase separately protect
The builder
the seller
the purchaser

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
67
Q

A purchaser has a home to sell as a condition to purchasing a new property broker should utilize the

conditional sale deadline clause

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
68
Q

You have to be licensed to fill out a contract and negotiate

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
69
Q

Attorney at fact

A

One time permission

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
70
Q

Receivor

is the one that takes the property at a probate

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
71
Q

Probate court looks over deeds and will make sure that everything has been transferred legally and correctly

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
72
Q

If you die intestate an administrator will be appointed(someone in family)Carry out the wishes of a will

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
73
Q

If someone dies testate an executor will be appointed the type of deed to pull property at a probate is an executors deed

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
74
Q

The state will be settled through the laws of descent  and distribution

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
75
Q

The power of attorney creates attorney in fact

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
76
Q

Enjoin

A

To stop

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
77
Q

At closing lenders make you sign the promissory note (money) lender makes you sign the deed of trust closing lady gives Deed to buyer and second he grabs it it means delivery and acceptance he now owns a property lender then gives you title insurance policy which equals marketable title also known as merchantable title

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
78
Q

Mortgage

A

Process of putting your house as collateral for not paying off the loan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
79
Q

Receivor

A

Person who takes property out of probate action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
80
Q

Conservator

A

Someone who is appointed by the court for someone who is incapacitated

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
81
Q

Guardian

A

Appointed by the court if the person is too young

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
82
Q

We are brokers who may or may not work as agents

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
83
Q

Transaction brokers can be verbal

agency has to be in contract

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
84
Q

Co-oping broker

A

Buyers broker

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
85
Q

Listing broker

A

Working for seller

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
86
Q

The good fun statue must be available immediately without penalty as a matter of right

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
87
Q

you need a certificate of license history if you move states

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
88
Q

Separate escrow accounts required for managing more than seven or more residents
Escrow accounts for every type of escrow (two escrows for regular agent)

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
89
Q

Land contract
installment contract
owner will carry
contract for deed

A
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
90
Q

Imputed knowledge

A

Could be held responsible even if they haven’t known about it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
91
Q

Property manager received funds must be deposit in escrow account no later than five business days

A
92
Q

Earnest money must be deposited in the bank or brokers trustor Escrow Account no later than three business days from acceptance of the offer

A
93
Q

Separate recordkeeping must be maintained in the branch office

A
94
Q

Closing statements are to be returned to employing broker immediately

A
95
Q

Definition of working relationships are to be given to seller or buyer

A
96
Q

When can you not have a designated agency

when you’re a one person firm

A
97
Q

Who are the parties of the listing contract

seller and the firm or
seller and employing broker

A
98
Q

Who are the parties of the sales contract

Buyer and seller

A

Buyer and seller

99
Q

Improvements-

A

Anything man-made

100
Q

Appurtenance

A

Something of value that passes with the property but is not a part of it

101
Q

What determines market value
the market

who determines market value
an appraiser

A
102
Q

Emblements 

A

Annual crops belongs to whoever plan of them

103
Q

Prohibited provision

A

(hold harmless clause) Exculpatory languageNot to have anything in the contract that are protected language

104
Q

There is no approved form for leases

A
105
Q

Can’t charge principal separate cost for preparing documents

A
106
Q

What do you have to keep in your files as an associate broker

A 
Listing agreement 
square footage disclosure
 lead based paint disclosure 
purchase contract 
any addendum to the property
107
Q

The real estate commission has no authority to get into commission disputes

A
108
Q

You can rebate a portion of your commission to the seller it just Has to be on the settlement statement sheet

A
109
Q

Single party listing cannot have a holdover clause

A
110
Q

Amend

A

To change

111
Q

Only courts can file Lis pendants relates to title ownership

A
112
Q

Promissory note is secured by the deed of trust

A
113
Q

All deed transfer ownership the difference is the promises they guarantee

A
114
Q

Mediation arbitration ledigation

A
115
Q

Where can you not keep your records

A

In the downtown location of your CPA

116
Q

Affiliated business arrangement

A

One stop shop you just need to have disclosure

117
Q

Rule F assist us with complying with Rule E

A
118
Q

There is no approved forms for the following if needed an attorney should always draw up a contract

A

Owner will carry
new home with warranty
construction contracts
no approved form for deeds

119
Q

Conventional life estate
Reversionary property reverts back to grantor when grantee dies
remainder grantor gives property to someone upon their death when that someone dies it goes to someone else
Pur autre vieYou receive a life estate based on someone else’s life

A
120
Q

The failure of a landlord to provide a written statement within the record time shall work for forfeiture of all his rights to withhold any portion of the security deposit under this section failure from the landlord to return deposit can be awarded with treble damages three times the amount If they kept your deposit with no reason

A
121
Q

Provisions that are entered in blank spaces need to have differentiated print

A
122
Q

Colorado consumer act

A

Protect the public from unfair business practices

123
Q

Prior to submitting an application for A license a person must

Proof of education and testing
Compliance with a good moral character
Fingerprints the Colorado Bureau of investigation

A

Proof of education and testing
Compliance with a good moral character
Fingerprints the Colorado Bureau of investigation

124
Q

If a Colorado broker maintains more than one place of business, the broker must

Be responsible for the supervision of all licensee activity

A
125
Q

Entity

LLC

A
126
Q

Licensure

the granting or regulation of licenses

A
127
Q

All parties who sign a document must have a copy of such document. The copies must legible

A
128
Q

An employing broker can counsel an associate broker relating to a transaction:

In all matters as long as the client’s confidential matters are protected

A
129
Q

Which of the following would have the priority of appropriation of water rights

domestic purposes

A
130
Q

The borrower can redeem the property if he does so not later than

75 days after the foreclosure sale

A
131
Q

The Real Estate Commission has the power to investigate a licensee upon own motion

A
132
Q

In listing a property, a broker will do all of the following

Use a commission approved form

Prepare closing instructions for future delivery to the closing company

Negotiate the commission that the company directs the broker to charge

A
133
Q

What’s true relating to the Colorado Fair Housing Act:

Both commercial and residential property are covered

Marital status is covered

Colorado courts may levy fines for any violation of the law

A
134
Q

Which of the following could be considered to be the sale of a security

The developer is the exclusive sale or rental agent of a condominium offer
A rental pool is a requirement of condition of the sale
The tax deduction benefits of depreciation are used as an inducement for the sale
Any of the above

A
135
Q

The purchaser of property at a foreclosure sale would receive a certificate of purchase

A
136
Q

The Contract to Buy and Sell Real Estate is referred to as:

A preliminary contact
An earnest money contact
An executor contract

A
137
Q

A sign of equity skimming could be when a purchaser chooses to buy a property:

Subject to an existing loan

A
138
Q

Which of the following is a uniform duty expected of all real estate brokers:

Keeping the buyer or seller fully informed regarding the transaction

Disclosing the buyer or seller material facts actually known by the broker

Accounting in a timely manner for all money and property received

A
139
Q

the following would be a Colorado Real Estate Commission approved form:

Exclusive Tenant Contract
Exclusive Right to Lease Listing Contract

Brokerage Duties Addendum to Property Management Agreement

A
140
Q

What is the purpose of a licensee buyout addendum?

A

A salesperson is offering to purchase as an inducement for obtaining a listing contract

141
Q

A seller, who has never made a loan before, has decided to carry back financing for the buyer. What is the maximum interest rate that the seller can charge:

A

45%

142
Q

According to the Contract to Buy and Sell Real Estate,

all prorations are considered final

A
143
Q

Which of the following is true when using the Counterproposal Form

The date and deadline table may be deleted if inapplicable
If the date and deadline is left blank, it means “no change”

The proposed contract is not to be signed by the party initiating the counter proposals

A
144
Q

The “Escrow Accounting Equation” means that the cash balance must equal the:

Account liabilities

A
145
Q

The general function of the journal is similar to: the trust account check register

A
146
Q

The escrow account bank statement heading must include all of the following:

Licensed brokerage name
Type of escrow account
The broker’s name

A
147
Q

At any given time, the sum of all ledger pages must equal the amount of

A

The trust account checkbook

148
Q

Loan discount fees can be paid by both buyer and seller

A
149
Q

Individual members of the public are vicariously liable for the acts of omissions of real estate brokers if the acts:

Approved
Directed
Ratified

A
150
Q

A broker may be properly designated

In writing by the employing broker

A
151
Q

A Square Footage Disclosure is required on:

A

Residential property only

152
Q

Lower LTV higher the equity

A
153
Q

Material fact

is anything that would affect the buyer/tenants decision to purchase or lease the property and the value of the property

A
154
Q

 Mediation

A

Mediation
arbitration
litigation
interplead to courts wait 120 days

155
Q

Buyer will have liquid damages if they checked specific box for specific performance

A
156
Q

Rule of three (references)

A
157
Q

The closing instruction forms (CL8-9-95)

Closing instructions engage the closing entityEngages a closing service on behalf of the buyer and seller

A
158
Q

Out of state seller 2% sales price

Or entire amount you’re walking away with for out-of-state buyer which ever is less

A
159
Q

Between contract and closing cost of less than 10% seller needs to fix or provide insurance

A
160
Q

Time is of the essence

Dates are important

A
161
Q

Mediation is not binding unless parties agree split cost 50-50


A
162
Q

Parole evidence rule

It’s an oral agreement didn’t make it into contract it didn’t happen

A
163
Q

Consideration some thing of value for something of value

A
164
Q

Tort - private wrong 

A
165
Q

Acceleration clause

Clause that allows the lender to claim full payment of loan

A
166
Q

Agricultural properties

Sold within

A

215 -230 days

167
Q

Non-agricultural properties

A

Sold within 110 days to 125 days

168
Q

Power of sales clause

Gives power to trustee to start immediate for closure public trustee will initiate notice of election and demand

A
169
Q

NED give 10 days to pay if not house will foreclose.
Equitable period of redemption before statutory period of redemption (na for Colorado
Borrower has until noon before forclosure to pay same day

A
170
Q

Hypothecation

Hypothecation is the practice of securing debt by pledging collateral. It occurs most often in mortgage lending.

A
171
Q

Conventional loans are not assumable because of acceleration clause

A
172
Q

Country taxes = things like school district
City tax= sales tax
Federal tax=IRS taxes

A
173
Q

How are taxes payable
Taxes are paid in arrears in Colorado you can do whole amount on April 30 or half the last day of February and the other half June 15 June 16 taxes are delinquent

A
174
Q

Mill levy 1/10 of 1%

A
175
Q

30 days to fight assessed value

A
176
Q

Value
Contract Value
market value
assessed value for tax purposes

A
177
Q

The county trustee issues a certificate of purchase for tax sale

A
178
Q

mechanics lien Cannot last for longer than six months unless they sue you

A
179
Q

You have to inform your employing broker before you can manage properties

A
180
Q 
How to eliminates tenancy at will
Sale of property 
death of either party 
destruction of property 
10 day notice
A
181
Q

What’s an advantage to a landlord net lease

Your subsidizing the landlord’s expenses

A
182
Q

Subsidizing

pay part of the cost of producing (something) to reduce prices for the buyer.

A
183
Q

To renew a Colorado real estate licensee license must complete
24 hours of continuing education every three years or pass a Colorado portion of the real estate exam

A
184
Q

If a broker is found to have violated division of real estate procedures the division may not require a payment of damages

A
185
Q

 listing based on net price are legal in Colorado as long as the seller agrees

A
186
Q 
Voidable
Duress 
under age 
fraud
Insane by doctor
A
187
Q 
Void
Insane by court
Illegal purpose
 signing contract beforelead based paint disclosure
Must be in writing
A
188
Q

Hardship
Hardship is it unusual irregularly in your property that makes it a uniquely difficult for you to comply fully with Zoning regulations

A
189
Q

Who subdivided property

A

Surveyor

190
Q

If the deed of trust is set up with a private trustee any foreclosure will be handled in the appropriate court

A
191
Q

Federal security laws

A

Syndication

Pooling of funds

192
Q

According to the Colorado law ID a trust deed is held by a private trusty

any foreclosure must be judicial

A
193
Q

In the Colorado exclusive right to buy contract who is ultimately responsible for paying commission

the Buyer

A
194
Q

 holdover clause is a protection clause for broker 

A
195
Q

The developer of a condo conversion into twenty residential units must register with a Colorado real estate prior to subdividing

A
196
Q

An owner of 35 acre parcel undeveloped land may drill a well for water only after obtaining a well permit from the state engineer

A
197
Q

Amendment change things

addendum‘s further explain things

A
198
Q

Conway bogue vs the Denver Bar association
Brokers are required to not charge the parties for the preparation of the legal documents used in a real estate transaction

A
199
Q

Rue E3 requires that a broker leaving the employ of an owners association must return all association management record to the association or its designee

A
200
Q

May a broker except a referral fee from a title insurance company or representative

No this is never permissible to accept such a fee

A
201
Q

Famili status under the Colorado fair housing law means children under 18 domiciles with parent or guardian

A
202
Q

The Colorado real estate commission requires continuing education when renewing licensees must complete 12 hours of elective courses as approved by the real estate commission plus the mandatory course as required

A
203
Q

The managing broker for the listing company received an earnest money note

the broker would hold the note in a secure location until redeemed

A
204
Q

A licensee renewing his license after the original license is issued must renew on every anniversary day of the original licensee every three years

A
205
Q

Water rights are considered real property in Colorado

A
206
Q

The Colorado homestead exemption as addressed in the Colorado approve deed of trust forms indicate that the trustor waive the right to homestead exemption

A
207
Q

Farmer has six months to redeem property from the date of sale

A
208
Q

Sellers is held to specific performances and liquidated damages

A
209
Q

If the sales price is different on the page one that’s a inserted in section 4 to contract and buy and sell which of the following is true section 4 will prevail

A
210
Q

Subdivision Any properties with more than 20 interest

A
211
Q

The Conway versus bogue Denver BuyerStates that real estate agents can prepare legal documents

A
212
Q 
MAP 
Must be connected 
Must not charge 
Advise options or legal counsel 
Pre-printed approved contracts
A
213
Q

You must renew your Colorado license every

A

Three years

214
Q

Real estate Recovery fund is held by

A

State treasurer

215
Q

Carbon monoxide detectors

15 ft any sleeping quartes

A
216
Q

What if a license is working with a tenant tenant agent

A commission approvedExclusive tendant contract

A
217
Q

Short sale addendum excepting less than the loan amount

A
218
Q

Contract provides for the owners title insurance policy to be paid by

A

Seller

219
Q

The total for the sellers credit would equal the sellers total debits

A
220
Q

With an assumption of a loan but hazard insurance reserve could be entered as

credit seller and debit buyer

A
221
Q

When is seller carry back a purchase money mortgage the entry would be

A

Debit seller credit buyer

222
Q

If the owner lender requires a mortgage title insurance policy they should be entered as

debit the buyer and credit the broker

A
223
Q

The real estate commission approved addendum brokerage duties disclosure to seller (BDD56 10 045)is used When dealing with REO and non-CREC approved listing agreements

A
224
Q

A property was sold through an owner will carry who walks out the door with the closing deed

the seller

A
225
Q

Which of the following would be most likely to be approved for continuing education by the real estate commission

real estate ethics class

A
226
Q

Syndication

A

Transfer of something for control

227
Q

In a new loan closing the net loan proceeds become a

A

Debit to broker

Colorado (1 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions