Times/Dates Flashcards
3 days
after delivery of TDS in person to buyer, for buyer to terminate his offer in writing
3 business days
after loan documents signed; truth-in-lending right to rescind
5 days
after delivery of TDS by mailing to buyer, for buyer to terminate his offer in writing
1 week
after closing, the broker/escrow must record trust deed
7 calendar days
buyers have until midnight of the seventh calendar day to rescind the purchase contract in a timeshare subdivision
10 days
to post and record a Notice of Nonresponsibility
10 days
for a broker to recommend a lender record a trust deed
10 calendar days
for agent to report sale of registered mobilehome to Dept. of Housing and Community Development
15 days
for an owner/landlord to return a copy of the written lease of rental agreement to the tenant
21 days
landlord must return security deposit to tenant
25 days
a broker must remove earned fees in excess of $200 from his trust account
Monthly
a broker must reconcile his/her client trust account monthly
Property Tax Year
July 1 - June 30
1 year or less
oral lease of real property
1 year
from the date you took the exam to apply for your real estate license after you pass the exam
1 year
to file a Rumford Act complaint with the Dept. of Fair Employment & Housing
More than 1 year
lease of real property must be in writing
2 years
grace period to renew your real estate license after it expires
2 years
to sue an agent for failure to disclose defects in the TDS
3 years
keep all real estate documents
3 years
to sue a neighbor to have an encroachment removed
3 years
for overages in a trust account to be turned over to the Controller’s office
37 months
promotional note is no longer a real property security
4 years
must renew sales and broker licenses
5 years
possession required to take title by adverse possession
5 years
usage to create an easement by prescription
5 years
non-use terminates an easement by prescription
5 years
DBA expires
27.5 years
minimum depreciation period for residential income property (apartment buildings)
39 years
minimum depreciation period for non-residential income property (commercial buildings)
1968
Jones v. Mayer, established the 13th Amendment as a basis for Fair Housing Laws
