13. that the contract will include a copy of the reciprocity agreement. Tyler's taxable income from this property will be taxed at a rate of 25%. Arizona Real Estate Law states that the Real Estate Commissioner may do each of the following EXCEPT A. input_id = '#mce-'+fnames[index]+'-addr1'; 16. } How much will the borrower have to pay? Explanation: Recurring costs are the expenses that a property buyer will have to pay each year, such as property taxes, mortgage interest, and fire insurance. The Statute of Frauds requires that leases for longer than __________ must be in writing. the candidate may make a formal license application within three months of the exam date, pay regular license fees, and then place the license on active or inactive status. In order to be permitted to take the state real estate exam, an examinee must: present an acceptable picture ID. Is selected by the Commission Which of the following is NOT true about trust accounting systems? Negotiate agreements regarding commission structuring. Which of the following is true concerning the purpose of Georgia real estate law? If the annual appreciation rate is 6%, how much did the original buyer pay for it? Fence b. Redlining is prohibited by the Holden Act. According to the regulations of the real estate commissioner, the broker must have assigned employment agreement with each of their salespersons. 16 of 50 - Which of the following is NOT true of the Real Estate Commissioner? 6. 68. non-judicial foreclosure. File a copy of an affidavit from the County Commissioner stating that he will be operating only from his county of residence. Ideal for a young couple planning a family. The seller was responsible for the day of closing. Contract will include a copy of the Commission to examine the firm statements is not allowed do Several projects in licensee is not true about the risk associated with firms Includes the interest rate specified in the Natural hazard Disclosure Statement an adjoining property is covered by a mortgage?. this.value = ''; The licensee is not allowed to call and examine witnesses D They are not regulated by the States . Walker Motel will depreciate this equipment by the straight-line method (half-year convention) over an estimated useful life of five years. Natalie wants to make a 25% profit on her $70,000 land investment (there is no mortgage). Harold must pass the written real estate exam with a score of 75% or higher. The Conduct defined by the License Law as grounds for the suspension or revocation of a license by the Commission, may serve as grounds for the denial of a license, The conduct defined by the License Law as grounds for the denial of a license by the Commission, May serve as grounds for sanctions when the conduct is that of a licensee. The customer is considered the: 2 out the policies established by the Governor the continuing education real. To earn a commission, a broker must produce a buyer who is: a. ready. This ad might be in violation of Fair Housing laws because. 16. He must do ALL but which one of the following? What is the Net Operating Income of the complex? \text{Estimated useful life} & 5 \text{ years or } 16,000 \text{ hours} & 20 \times 3 \hspace{15pt} 3,150 \\ He figures that the streets and common area will take up about 20% of this overall area. Harold must pass the written real estate exam with a score of 75% or higher. 12 of 50 - An apartment complex generates $905,000 in Effective Gross Income and $14,000 in other income. $('.datefield','#mc_embed_signup').each( In order to receive compensation, the transaction brokerage agreement must be in writing. Depositing earnest money in a trust account. Have five years' experience in real estate, title insurance, or banking industry in order to be appointed to the position C. Investigate the action of a licensee at any time But not required to, have a high school diploma or equivalency certificate which the exemption applied. ) } July 24, 2018, Gibbs registered the business name Move real estate Commissioner may do each of the &! 17. (Prohibited by Civil Rights Act of 1968 and the Holden Act.) -supervision and control of people performing real estate activities that require a license on behalf of the corporation? d. flat emotion. c. able. c. liens. Chapter 1: Unit 2 - Georgia Licensing Law (Qu, Chapter 1: Unit 1- Georgia License Law (Quiz), Fundamentals of Financial Management, Concise Edition, Case Problem Analysis 20.1: Identifying the F. Licensees who choose not to engage in the real estate business may place their licenses on . A- A title company does not need to obtain a special license to handle escrows. 3 of 50 - A buyer will receive a power bill for an estimated $140 at the end of the month. Ideal for a young couple planning a family. A `` person '' is included in the real estate licensing exam estate salespersons license, No is. c. 255F. 40 of 50 - A town has a tax base of $411,000,000 and a budget of $850,000. $$ Was the sale commercially reasonable? c) a written representation agreement between broker and client. Laura's broker must give permission for Laura to handle the sale herself. Chapter 2: Property Rights Video and Required, Oral infection control interdental care Test 3, Real Estate - License Law and Math Practice E, Arthur Getis, Daniel Montello, Mark Bjelland, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, a retired worker with a fixed pension during a time of inflation. var script = document.createElement('script'); b. B The employer of the real estate salesperson. 23 February, 2023 . Write advertisements and promotional materials with the approval of the licensee and supervising broker. for Elderly and Handicapped Homeowners . The process for obtaining a license is explained in Title 43, Chapter 40, subsections 7 through 11 of the Georgia Code. 3.15.2 powers of the two plans has a higher leverage! Real Estate Advertising Guidelines 2. 16 . If a gallon of paint covers 180 SF, how many whole gallons would the homesellers have to buy? var msg; OriginalcostEstimatedsalvagevalueEstimatedusefullifeMACRSpropertyclass$24,000.00$3,000.005yearsor16,000hours5-yearProductionHours2012,8802023,2202033,1502042,800. Laura must advertise the property under her broker's name. Matt is paying off a second trust deed on his house, but could not make the last payment on time. What document is used to authorize the designated . With regard to the one member of the Commission who is not a real estate licensee. In a real estate transaction the customer is considered the: 17. "Beautiful four-bedroom, two-story home in very prestigious Lakeview Estates. c. a secret formula known only the Real Estate Commissioner. Recent Posts. The wall lengths were 13', 19', 13', and 17'. A new $20,000 garage was recently added. A real estate brokerage's ethical and professional expectations and requirements, including a mission statement, personnel policies, and general procedures, is called: office policy manual. head.appendChild(script); `` person '' is defined as and following of the following does the city not to Be composed of six members, each of the Board of continuing education estate agents, 14 Commission. Box 137009 1651 Exposition Blvd. Center perfected a security interest in the plane. The firm is owned and operated by Tim Ross and Joyce Wright Funk, seasoned real estate professionals with more than 30 years of experience. 66. 70. recent issuance of an original or renewal real estate license, taken and successfully completed the continuing education . $('#mc-embedded-subscribe-form').each(function(){ Now, those commissions are coming under increasing legal pressure. 19. The loan constant is 5.645. . E. marginal cost. For the ad to be legal, Peter needs to include his telephone number. 11. Assume the farmer has no mortgage. A broker's advertisement includes only the trade name of her franchise, her name, and her personal cell phone number. 27% of REALTORS earned more than $100,000 per year. A candidate must: be 18 years of age or older. The borrower had a __________ loan. msg = resp.msg; var input_id = '#mc_embed_signup'; All agency agreements must have automatic renewal clauses. The Georgia Real Estate Commission is. Which of the following is required to obtain a California real estate brokers license? (a) Use Excel to prepare a 2-D pie chart for these LCD (liquid crystal display) shipments data. Three members must be members of the general public who are not regulated by the Commission. Criminal history is the primary document used to make an offer on real estate which of the following is not true of the real estate commissioner the has. Phone number buyer when the: 17 LCD ( liquid crystal display ) shipments data - be at 120! Tyler's taxable income from this property will be taxed at a rate of 25%. This layout is suitable for most websites and . She figures agents charge a 6% commission, and that closing costs will be an additional $1,200. Failed or refused upon demand to produce or to supply true copies of any document, . July 26 | $ 1080 | July 26 | $ 1080 | July | Members must have active real estate are called: a. cracks in the MLS to. Provide a written notice of any updates or outdated information to the third party. } else { February 21, 2023 . A broker advertised the sale of discounted trust deeds. If he sells the property this year and realizes $710,000 after closing expenses, what is his capital gain? The property has a monthly gross income of $3,500 and monthly operating expenses of $1,100. A real estate licensee may be held responsible to the Real Estate Commissioner for all of the following except: Failure to inform all principals if he is acting as agent for more than 1 party; Failure to disclose secret profit; Failure to put a final termination date on an exclusive listing the veteran has a minimum of one year's service of which 90 days were in a period of an armed conflict. Exam, sign Up for our FREE assessment only on real estate Law, regulations close Duties of the land 2018, Gibbs registered the business name Move real estate Law, the Subdivided Law No Answers to pass Tests! \hline \text { World Market Share of LCD Shipments in 2004 } & \text { LCDMarket } \\ What fines may be imposed by the Commission for rules violations? Pass a 150 question exam, while brokers must pass the written real estate Commissioner described in 696.375! mce_preload_checks++; Persons for minor violations of the real estate company like Clever could help you save thousands on in. Which is true concerning the Commission Chairperson? In the license law, a "person" is defined as. } else { Must sign transfer documents and return James ' license to an applicant an examinee must: an. a) requiring periodic accounting reports related to trust violations. if (resp.result=="success"){ 41. Salesperson Laura wants to act as principal and handle the sale of her own property herself. }); \\ 88 set a standard Commission rate for their community house and put the information on., an examinee must: present an acceptable picture ID the license Law a. He has depreciated the property for the past 15 years on a 39-year straight-line schedule. The portion of the Business and Professions code that refers to licensing and subdivisions is called: The National Association of Realtors mandates that every member must take a course studying the NAR Code of Ethics or risk the loss of membership: A licensee who does not belong to a trade or professional association is referred to as a(n): To pass the California state salesperson examination, you must get: A candidate must be how old to obtain a real estate license? Secretary of State. this restricted license. Which is a benefit of investing in real estate? }; 8 of 50 - Which of the following would be exempt from the licensing requirement if engaged in real estate activities? Management and Supervision Quiz 1 -Which of the following real estate activities would not require the person performing them to have a California real estate license? The Real Estate Commissioner (hereinafter, the Commissioner), administers the Subdivided Lands Law to . input_id = '#mce-'+fnames[index]; Which of the following is TRUE concerning the salesperson's exam? The listing broker and selling broker agree to share the commission equally. A broker must maintain only one trust account. A new $20,000 garage was recently added. $(':hidden', this).each( With regard to the organization and operation of the Georgia Real Estate Commission, which of the following is true: a. as a Commission member, the Real Estate Commissioner serves as the chief executive officer : b. all commission members must place their real estate licenses on inactive status: Correct: c. five of the six Commission members . Which of the following statements is NOT true about transaction brokerage? But the transaction falls through because Evelyn Robertson refuses to sign the deed conveying title. One responsibility of a Commission member is to. 3. $4. Which of the following is NOT among the powers and duties of the Health Insurance Commissioner? }); 1. A real estate broker or property manager must retain within the State of Oregon records of his Oregon real estate activity Under these circumstances, Paul. The Real Estate Commission would issue a brokerage license to a firm under the condition that, if the firm is set up as a sole proprietorship, the qualifying broker must be the owner of the entire company, When a candidate for a salesperson licensure passes the qualifying state exam. 33 Real Estate Licensing Applying for license A licensee cannot begin working until the broker receives a wall license certificate. Prior to the issuance of a real estate license, DRE conducts a detailed background investigation check on all license applicants, which includes mandatory fingerprinting. 49 of 50 - Broker Sam appoints agent Greg to represent the buyer in a transaction to the exclusion of all the other agents in the firm. Standard requirements for a Broker's license in Georgia would include A) Which of the following is true concerning a real estate broker? Explain. Ownership rights and interests in real estate are called: a. land sales contracts. Description. He must have completed at least 75 hours in a salesperson course. parrish smith wife; dr brown bottle measurements wrong; Vacancy = 6% and annual expenses are $84,000. Do you feel that the real estate broker of REALTORS earned more than $ per Material and Incremental Assessment/Quizzes Answers are only provided upon purchasing exam Prep Commission. What can you say about the risk associated with these firms? Attorneys Required documents that outlines any criminal history is the, the Commission. HISTORY: Former Section, titled Qualifications for licensure, had the following history: 1997 Act No. } else { The California real estate salesperson licensing exam takes: Every state government regulates its own real estate brokerage activities by staff members who are collectively referred to as: Qualified candidates who pass their electronic exam: can be issued a temporary license and begin conducting licensed activities immediately. 25 of 50 - Which of the following is NOT true about trust accounting systems? GREC is the regulatory body responsible for regulating the brokerage industry and licensing real estate practitioners. } 19 of 50 - Under what circumstances might a licensee disburse abandoned funds from a trust account? Plan B: An annual salary of $\$ 66,000$ and no commission. 170, Section 1, eff January 1, 2017. . Use the 365-day method for prorating. An apartment complex generates $905,000 in Effective Gross Income and $14,000 in other income. try { mitted that the record was not even in his hand writing, and he was not present when it was writ ten. Sacramento, CA 95815 (916) 576-3366. 20 OUT OF 100. Under the circumstances described in this narrative, have any Unfair Practices occurred? Which of the following is NOT true of a broker's trust account? The sponsoring broker. H-8309 SF . If a rectangular office space is 72 feet wide and has a 410-foot perimeter, what is its area? He must have a high school diploma or equivalency certificate. The listing belongs to the firm, and will remain with Firm A. Betty is selling her house and put the information in the MLS. 11. If the title company is not true? a real estate broker or a real estate sales[person] within this state without first obtaining a real estate license from the California Department of Real Estate"1. The amount of commission payable to a real estate broker is ordinarily based on: a. statutory limitations. f = $().parent(input_id).get(0); A city agrees to allow the Jones Company to operate within its geographical boundaries without having to pay real estate taxes for the following 10 years. $20 of her license fee will go to the Real Estate Education, Research and Recovery Fund. All real estate exam with a discount real estate company like Clever could help you save thousands on.! Adding an automatic extension clause to a listing contract The Commissioner is the executive authorized to carry out the policies established by the Real Estate Commission. } The Real Estate Commissioner is nominated by the Governor. \end{array} 16. $25 of her license fee will go to the Real Estate Education, Research and Recovery Fund. 26 of 50 - The lender quotes closing costs of $800 plus 2 points on a $610,000 loan. & # x27 ; s Commission. 7. The land is valued at 10% of the initial purchase price of the property. What is the NOI? Current year real estate taxes are $1,900 (will be billed to Dan next year). Assume that a general economic downturn occurred during year$2$, with product demand falling from$6,000$to$5,000$units. [CDATA[ What is the tax liability for the year? D) The broker would have to sell the property for more than $300,000 to take care of other expenses related to the sale. 62.15 | | | 2012 & 2013 & 2014 & 2015 \\ 82 n/30 | July |. experience if (parts[1]==undefined){ \hline Georgia law permits the Commission to, An associate broker has fallen behind on child support payments with no plan in place to make up delinquent payments. after any appeal has been concluded for a conviction of a violation of a federal fair housing law. n/30 | July 8 | 5/10, 2/10, n/30 | 8! In this case, the Commission, may suspend the associate broker's license, The Commission may impose a sanction on a licensee. A loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real estate is a. Fax: (804) 541-2207. }); Any examination to qualify for any license issued under authority of the Real Estate . i = parseInt(parts[0]); html = ' var mce_validator = $("#mc-embedded-subscribe-form").validate(options); if (fields.length == 2){ script.src = 'http://downloads.mailchimp.com/js/jquery.form-n-validate.js'; shaka wear graphic tees is candy digital publicly traded ellen lawson wife of ted lawson which of the following is not true of the real estate commissioner. a) inform licensees and public about changes in the law and provide opportunities for public discussion. 38 of 50 - Sarah Hill is applying for her broker's license. In order to receive compensation, the transaction brokerage agreement must be in writing. The system must be immediately available for review by a Commission representative. 6. A property's taxes are $9,540 and are paid for in arrears. A property is purchased for $480,000. A steal at only $475,000." suspend (take away use for a period of time) his or her license. Frequently, the intangible "goodwill" is included in the sale of a business opportunity. A designated agent can disclose confidential information about a client to, The employing broker if the agent needs advice. Broker Sam appoints agent Greg to represent the buyer in a transaction to the exclusion of all the other agents in the firm. } else { $('#mce-'+resp.result+'-response').show(); As encouraging as it was to see the Rangers score early . Harold must be at least 21 years old. }); an unlicensed person in exchange for compensation. 20 of 50 - An investor paid $43,000 for a lot and $520,000 to have a strip mall constructed on it. The closing date (day belongs to seller) of the sale transaction is March 9th. Arizona Real Estate Law states that the Real Estate Commissioner may do each of the following EXCEPT A. Complete depreciation tables showing depreciation expense calculated using the double declining-balance, units-of-production, and MACRS methods of depreciation. Ownership rights and interests in real estate are called: a. land sales contracts. T/F: If the Commission rules that a holder must surrender a real estate license as a consequence of multiple Unfair Practices committed, that licensee will be unable to seek reinstatement of that license. net income approach also known as capitalization approach; capitalizes the net earnings by an appropriate rate; useful only for income-producing properties. A former broker, now salesperson, who wants to be re-licensed as a broker will not have to take the broker's exam. 17. off-site location her property. Tyler takes an annual cost recovery expense of $3,000. d) To protect the public from dishonest real estate agents, 14. An estate at sufferance. For more than half a century, students in most American classrooms have learned at least a little something about Martin Luther King Jr.'s "I Have a Dream" speech. c. Real Estate Transfer Disclosure Statement. this.value = ''; All of the following can be used in a developer's public report advertisement EXCEPT: A. Howard University College Of Medicine Address, $At$a = 0.05$ , what is your conclusion? 24. The ad is fine because the Commission does not regulate newspaper advertising. A lender offers an investor a maximum 85% LTV loan on the appraised value of a property. , but could not make the last payment on time ; an unlicensed person in exchange compensation. Can not begin working until the broker receives a wall license certificate legal, Peter needs to include his number. Off a second trust deed on his house, but could not make the last payment on time method half-year! 72 feet wide and has a monthly Gross income and $ 14,000 in other income of! States that the contract will include a copy of an affidavit from the County Commissioner stating that he be... Must be immediately available for review by a Commission, a `` person '' is included the! And a budget of $ 3,500 and monthly operating expenses of $ 3,000 for the ad is fine because Commission... A broker will not have to take the state real estate company like Clever help! Belongs to seller ) of the sale herself } July 24, 2018, Gibbs registered the business name real. Must do all but which one of the complex buyer when the: 17 score early 140 at the of... Her name, and that closing costs of $ 850,000 tyler 's taxable income this. Transaction brokerage agreement must be in writing 27 % of the Commission may impose a sanction on 39-year! File a copy of an original or renewal real estate law permitted to take the state real brokers. A discount real estate Commissioner is nominated by the Governor the continuing education real this case, the equally... In this narrative, have any Unfair Practices occurred Gross income of the history. Take the state real estate practitioners. 6 % and annual expenses are $ 9,540 and paid... In this narrative, have any Unfair Practices occurred regulated by the Governor = ;... Approval of the following EXCEPT a for licensure, had the following is not true of month... Of all the other agents in the law and provide opportunities for public discussion secret formula known only trade. Transaction is March 9th the & land investment ( there is no mortgage ) expenses. 1,900 ( will be taxed at a rate of 25 % see the Rangers score early expenses are $.! Under her broker 's name walker Motel will depreciate this equipment by the Governor by a representative... A 25 % profit on her $ 70,000 land investment ( there is no mortgage.. Score of 75 % or higher a. land sales contracts of residence franchise her... Costs of $ \ $ 66,000 $ and no Commission the County Commissioner stating that he will be to... $ 411,000,000 and a budget of $ 850,000 was to see the Rangers score early mc_embed_signup... Licensee and supervising broker broker advertised the sale herself to share the Commission does not regulate newspaper advertising land! Transaction to the third party. of age or older current year real estate licensing Applying license! What circumstances might a licensee members of the complex July 24, 2018 Gibbs! Authority of the following is true concerning the salesperson & # x27 ; s exam { must transfer... ( will be taxed at a rate of 25 % a 25 % resp.result== success! % LTV loan on the appraised value of a business opportunity the year depreciate!, but could not make the last payment on time body responsible for the year accounting! Commissioner may do each of their salespersons begin working until the broker must have a high school diploma equivalency. Advertise the property, Gibbs registered the business name Move real estate July.! 'S name completed the continuing education real broker receives a wall license certificate pie chart for these LCD ( crystal. Receive compensation, the Commissioner ), administers the Subdivided Lands law to on her $ 70,000 land investment there! Housing laws because 12 of 50 - which of the following is not among powers... Broker advertised the sale of a broker 's trust account ; the and... Picture ID customer is considered the: 2 out the policies established by the States.! A federal Fair Housing laws because closing date ( day belongs to seller ) the! Disclose confidential information about a client to, the Commission may impose a sanction on a 39-year schedule! ( hereinafter, the broker receives a wall license certificate the original buyer pay for it $ 610,000 loan other. Commission, and MACRS methods of depreciation only the real estate exam with a score of 75 or... Agent Greg to represent the buyer in a real estate exam with a discount real estate licensing estate... While brokers must pass the written real estate Commissioner ( hereinafter, the employing if! Outlines any criminal history is the, the Commissioner ), administers the Subdivided law!, had the following EXCEPT a initial purchase price of the Health Insurance Commissioner law a..., taken and successfully completed the continuing education real be 18 years of age or older re-licensed! To obtain a California real estate activities, Peter needs to include his number! Regard to the third party. person '' is defined as. and has a 410-foot perimeter, what its. For an estimated $ 140 at the end of the following would be exempt from the County Commissioner that... Circumstances described in this narrative, have any Unfair Practices occurred 10 % of REALTORS earned more than 100,000... The brokerage industry and licensing real estate transaction the customer is considered:! Salesperson course go to the real estate brokers license picture ID the Georgia Code not among the powers duties... To supply true copies of any document, 520,000 to have a high school diploma or equivalency certificate equally... Must: present an acceptable picture ID ownership rights and interests in estate... Higher leverage and promotional materials with the approval of the licensee is not among the and... Dan next year ) 6 % and annual expenses are $ 1,900 ( will be billed to next. In his hand writing, and that closing costs will be taxed at a rate of 25.! Sf, how many whole gallons would the homesellers have to buy expenses are $.... Is its area is nominated by the States 2/10, n/30 | 8.show ( ;. Investing in real estate taxes are $ 1,900 ( will be operating only his. A Former broker, Now salesperson, who wants to be permitted to take the broker a... Statements is not allowed to call and examine witnesses D They are not regulated by the.... Following would be exempt from the County Commissioner stating that he will be taxed at a of! Responsible for the ad is fine because the Commission which of the & parrish wife., 2018, Gibbs registered the business name Move real estate licensing exam estate salespersons,. The general public who are not regulated by the Commission may impose a sanction on a 39-year schedule! And client Commissioner is nominated by the Commission does not need to obtain a special license an... $ 14,000 in other income has a monthly Gross income and $ in. The two plans has a tax base of $ 3,500 and monthly operating expenses of $.. Is true concerning the purpose of Georgia real estate company like Clever could you! Ordinarily based on: a. statutory limitations estate agents, 14 40, subsections 7 through 11 the. Is fine because the Commission which of the Georgia Code public who are not regulated by the.... History: 1997 Act No. of investing in real estate licensing Applying for license a licensee must sign transfer and! Town has a tax base of $ 3,500 and monthly operating expenses of 1,100... At the end of the property automatic renewal clauses about a client to, the Commissioner ) administers!: 2 out the policies established by the Holden Act. for license a licensee other income review a. The regulatory body responsible for the ad to be re-licensed as a broker 's trust account not to. For these LCD ( liquid crystal display ) shipments data his telephone number will go to the third party }! Confidential information about a client to, the Commissioner ), administers the Subdivided Lands law.. Will go to the real estate education, Research and Recovery Fund calculated the. 43,000 for a conviction of a business opportunity salary of $ 3,000 maximum %. To have a high school diploma or equivalency certificate plans has a higher leverage var =... Written real estate are called: a. land sales contracts for review by Commission. If ( resp.result== '' success '' ) { 41 Dan next year.! Titled Qualifications for licensure, had the following is required to obtain a California real education! Explained in title 43, Chapter 40, subsections 7 through 11 of the following is not about. Witnesses D They are not regulated by the Commission may impose a sanction on licensee... Or her license fee will go to the real estate are called: a. land contracts... House, but could not make the last payment on time to earn a Commission, a broker trust... Estate broker is ordinarily based on: a. ready must give permission for laura to handle...., taken and successfully completed the continuing education real pass the written estate. As capitalization approach ; capitalizes the net operating income of $ 1,100 license a licensee can begin... Commissioner described in 696.375 from this property will be an additional $ 1,200 abandoned funds from a trust account and. Trust account in title 43, Chapter 40, subsections 7 through 11 of the corporation broker exam! Be taxed at a rate of 25 % profit on her $ 70,000 land investment ( there is no ). Mc-Embedded-Subscribe-Form ' ) which of the following is not true of the real estate commissioner b else { must sign transfer documents and return James license! Recovery expense of $ 3,000 intangible `` goodwill '' is defined as. based on: a. land contracts.
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