RE Law

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Law of agency

Covers how an agency relationship is created

Law of Agency

Covers the duties of an agent to the principal

General property law

Covers the forms of Ownership and tenancy in real property and its distinction from personal property within the common law legal system

General property law

Covers the governments rights and authority under eminent domain

State specific license laws

Covers the requirements of a licensee when performing real estate activities within the state, to include license law, continuing education requirements, supervisory requirements, and prohibited conduct

General property law

Covers the rights of ownership and tenancy

Law of contracts

Covers what happens in the case of a breach of contract and how contracts may be terminated

T or F/ As long as you are actively pursuing your real estate license you can legally perform the same activities that License real estate professionals perform

F

True or false after you have obtained your real estate license you may legally draft a contract

False

True or false it is the commissions responsibility to establish qualified schools that offer real estate instruction

False

What 4 areas does real estate law cover?

General property law, State specific license law, law of agency,Law of contracts

The law of contracts - (4 elements of a contract)

Governs the use of contracts and the required elements to make a contract valid

What laws do you the Alabama real estate commission administer and enforce?

Licensed real estate activities, Real estate violations and penalties, Suspended licenses

True or false The purpose of licensing is to protect the public by requiring certain education training and standards for licensees

True

True or false the requirements for licensing provide an important oversight component to insure that you continue to meet the terms of your license

True

True or false there are different types of licenses based on experience level training, and different requirements and responsibilities that go with each license

True

True or false. Your role as a licensee is limited to the use of legally approved forms in standard clauses

True


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