Level 1 practice Flashcards
the right to drill or dig for minerals on one’s property.
Mineral rights
gives the property owner the right to encumber the property with a mortgage.
Mortgage rights
air, water, mineral, profit, mortgage, fixtures, crops, possession and enjoyment, exclusion, and disposition.
bundle of rights
Who provides buyers with a Coal Mining Notice
in pennsylvania, sellers must
involves the movement of the ground surface due to the collapse or failure of underground mining apparatus.
Mine subsistence
What is determined by RELRA and the State Real Estate Commission.
License law in PA
was enacted by the Pennsylvania legislature in 1980 to create rules for real estate licensees and to establish the State Real Estate Commission.
RELRA
What chapter of RELRA established the State Real Estate Commission
Chapter 2
What chapter of RELRA describes the powers and duties of the Commission.
Chapter 4
Who are appointed by the governor and serve five years, or until a successor is appointed (with a maximum term of 5 1/2 years).
The State Real Estate Commission members
When a complaint against a licensee is filed with the commission, who conducts an investigation to include a meeting between the parties.
the Bureau of Professional and Occupational Affairs
What allows a consumer to be paid when they have been awarded a judgment for fraud, deceit or misrepresentation in a real estate transaction and exhausted all other remedies to collect the award.
The real estate recovery fund
The maximum amount any consumer can recover from the real estate recovery fund is
20,000
