Hodgepodge of Incidental Nevada Rules Flashcards
An Intermediary is a
- Person who may do a 1013 Exchange
- Also known as accommodator
Severabilitly means
Any code or statue that is found unconstitutional in the future.
- may be severe
- the balance of the contract stays intact
Un-merchantable title. A NV licensee may not attempt to sell or lease NV real property unless:
- Licensee discloses the unmerchantable title before receiving money from a purchaser
NV Licnesees have 10 days to correct
- signage
- Advertisements
- NVRED may give additional time if warranted
Nevada is not a ______ law state in regards to _______
common, Nevada real estate agency
No NVB or licensee may every pay a _______ or _____
finder fee or bird dogs fee
A licensee must discolse if he/she receives money from_____
more than one party in a real estate transaction
Anyone can as NVREC to have ______ changed
NAC
Misrepresentation doesn’t apply in nevada unless…
licensee knew that client lied
Rules for nevada licensees on military exemptions
- NV licensee must be called into duty
- Within 6 months of getting out of the military with an honorable discharge
- NV licensee goes back to nevada active status by only paying renewal fee
Nevada licensee may_________ themselves for____ purposes
- incorporate
- tax
Nevada licensee may be the only ____
stockholder
If licensee married wife is entitled to ____
- half of license
Nevada real estate school must keep NV pre-licensing records for _____ years
7
Nevada real estate school must keep NVCE records for ___years
4
No Nevdada applicant can discuss what is on the_____
Nevada state board exam
Nevada licensee may get NVCE for attending:
- NVREC hearing for at lest 3 but no ore than 6 hours
- NVREC must sign in and out license
- Licensee can not be the reason for hearing
Licensee may get NVCE for _____
- teaching a course
NVCE cannot be ´_____
- stockpiled
If Nevada broker proprioter fails to renew license
- All licensees go inactive
If Nevada broker license is terminated and he is not a propritor
- must name a new broker immediatley
- All licensees remain active because license is with brokerage and not the old broker.
Nevada real estate contracts using _____ _______ are enforcable
Digital signatures
Nevada real estate agents may use Nevada team names if they
- include the brokerage name
- and go by the name of the team leader as licensed by NVRED
A nevada licensed agent can be considered a specialist if they can ___
- prove their specialty
A Nevada licensee may use a dsignation such as _____ or _____ provided they can prove their designation
GRI, REALTOR
All Nevada franchisees when placing an advertisment must identify each office as ________
Independently owned and operated
An Advance Fee Means ….
a fee contracted for, charged, or collected in advance for advertisment or a promotion for the purpose of promoting the sale or lease of real estate or a business.
A newspaper ad is not an _____ fee
advanced fee
Within _____ fo collecting an advance fee the agenst must ________
- 3 months
- furnish the client an accounting for the use of the money.
Broker Price Opinion Must:
- be licensed
- disclose license number, name and signature of licensee
- disclose intended use
- give brief description of the property and market data used
- have date of issuance
- have the name of broker
- may not be used for an appraisal
