NC Real Estate Law questions

North Carolina Real Estate License Law - Practice Test

  1. North Carolina Real Estate License Law Chapter Exam Instructions. Choose your answers to the questions and click 'Next' to see the next set of questions
  2. Due Diligence Questions and Answers Bulletin 2014-V44-3 The Offer to Purchase and Contract form (North Carolina Association of REALTORS®/North Carolina State Bar Association Form 2-T) defines Due Diligence under Terms and Definitions at Paragraph 1(h) on the second page
  3. The NC Real Estate Commission is a state government agency located in Raleigh. It issues broker licenses to qualified individuals who complete prelicensing education, pass the licensing exam, and meet the Commission's other licensing requirements. Once licensed, all brokers are governed by the Commission and must comply with the License Law.
  4. License Law and Rules Comments The License Law and Rules Comments are intended to assist licensees and applicants with their knowledge of the North Carolina Real Estate License Law and Real Estate Commission rules. The topics listed here are of particular importance and/or are likely to be frequently encountered in the usual course of real estate practice
  5. Homeowner Association Law FAQ Fostering great communities across North Carolina From offices in Raleigh, Hatch, Little & Bunn, LLP proudly protects homeowner associations (HOA) and the individuals who govern and manage them. In the North Carolina Triangle Region (including Wake, Durham, Orange, Alamance and Franklin counties), and across North Carolina, we help new..
  6. Brokers know that most sellers of residential property are required by law to give the buyer two disclosure forms: the Residential Property and Owners' Association Statement (RPOADS) and the Mineral and Oil and Gas Rights Mandatory Disclosure Statement (MOGS). The four-page RPOADS form should be given prior to an offer to purchase

Unlike in many states, North Carolina law requires sellers to involve a lawyer in the house closing and other aspects of the real estate transaction. (For details, see the North Carolina State Bar ethics opinions that set that out and describe what non-attorneys may do in the real estate transaction process: Authorized Practice Advisory Opinion. However, in North Carolina, TBE offers additional creditor protections to real property, as creditors of only one spouse cannot reach the property. As of January 1, 2015, this protection extends to TBE property that is transferred to spouses' joint or individual trusts as long as both spouses remain beneficial owners of the trust(s) Real Estate and Real Property: Search our free database of legal questions and answers from our network of attorneys. If you can't find an answer to your Workers' Compensation Law question, submit a legal question for free at LawGuru.com

Real Estate Disclosure Law in North Carolina The Residential Property Disclosure Act, codified as North Carolina G.S. 47E , requires the seller of residential real estate (one to four dwelling units) to complete a form—known formally as the Residential Property and Owners' Association Disclosure Statement—disclosing conditions and defects. Children in North Carolina Inheritance Law. If you die with one child or descendants of that child, your spouse will inherit half of intestate real estate and the first $60,000 of personal property. If there is more than $60,000 worth of personal property, your spouse then inherits half of the remaining personal property 1, G.S. 28A-20-3]. Income of the estate, property acquired by the estate after the decedent's death, or asset conversions (e.g. sale of real estate or stock, foreclosure of deed of trust, etc.) must be reported on the next accounting. [G.S. 28A-21-1]. 6. Year's Allowance [Application And Assignment Year's Allowance, AOC-E-100

NCREC Bulletins - Due Diligence Questions and Answer

  1. istrative Rules. The FAQs have been broken down into subcategories for your convenience
  2. Developed by the North Carolina Real Estate Commission to comply with the requirements of N.C. General Statute 47E, the disclosure statement contains 37 questions detailing characteristics and conditions of the property including structural components of the dwelling, mechanical systems, present and/or past infestation of wood-destroying.
  3. or@hunterrowe.com if you're thinking about buying or selling a home in Raleigh, Durham, Chapel Hill, Cary, Apex, Carrboro, Clayton.
  4. ation is based primarily on North Carolina law; however, some federal and/or common law questions may be asked to the extent they are relevant to the core knowledge required of a North Carolina paralegal. If you do not pass the exa
  5. North Carolina Real Estate Broker License: Study Guide bundle of rights in property law 100+ Real Estate Courses 100+ Real Estate Study Guides 4,000+ Real Estate Practice Test Questions 21.
  6. Under NC real estate law, undisclosed dual agency is acceptable if the broker discloses the relationship before closing. False. - all material facts must be disclosed to all parties of a transaction. Brokers acting as dual agents do NOT need to disclose material facts

General FAQ's - North Carolina Real Estate Commissio

6 North Carolina Real Estate License Law and Commission Rules ARTICLE 1. REAL ESTATE BROKERS. § 93A‑1. License required of real estate brokers. From and after July 1, 1957, it shall be unlawful for any per North Carolina Real Estate Commission. Questions and Answers on Offer and Acceptance, Page 4. Accessed Feb. 14, 2021. North Carolina General Assembly. General Statutes Chapter 47E. Residential Property Disclosure Act. Accessed Feb. 14, 2021. North Carolina Real Estate Commission. Selected Topics: Types and Benefits of Surveys, Pages 33-35. This is Ron Climer reading the Comments about the real Estate license law. This is a free download from the NCREC. Mant exam applicants spend $164 to tak.. State and federal estate tax returns will be required only if the taxable estate is very large—for deaths in 2021, more than $11.7 million. The vast majority of estates—more than 99.9%--do not owe federal estate tax. North Carolina repealed its state estate tax in 2013. Distributing Assets and Closing the Estate

North Carolina-Specific Laws and Regulations Key Point Review (24 pages) National Practice Tests (500 questions) North Carolina Practice Tests (130 questions) North Carolina Sample Exam (105 questions) We know the real estate licensing exam can be tough, and very nerve-wracking to prepare for A North Carolina Real Estate Broker License is required of individuals who want to who perform acts of real estate services in North Carolina. Purchasing our broker package and selecting North Carolina will provide you with national exam prep questions as well as North Carolina-specific broker practice questions

LicenseLaw - North Carolina Real Estate Commissio

Macy Grove Road, Project U-4734, Kernersville, NC Forsyth

Homeowners Association Law Frequently Asked Question

  1. NC Department of the Secretary of State Attn: Notary Public Section PO Box 29626 Raleigh, NC 27626-0626 NC Department of the Secretary of State Attn: Notary Public Section 2 South Salisbury Street Raleigh, NC 27601-290
  2. Examples of real estate math questions that you would find on the dynamically generated paid exams. Real Estate Exam Practice Sample Math Test: Sample math questions related to real estate that can be found within the paid subscriber area. This page of example questions does not include the grading function as do the math exams
  3. istrator or Executor of the estate of the person who passed needs to sell the property to pay claims, the heirs or devisees own the property.
  4. Question 1-Property and Ownership Laws Practice Test for the Real Estate License Exam. Question 1. When a person or entity uses the land of another for a specific purpose, it is known as a (n): restrictive covenant. lien
  5. X. Contact NC REALTORS®. Legal Hotline - (336) 294-1415. Call in and ask for an NC REALTORS® lawyer. Calls are typically taken or returned after 1 PM every weekday that NC REALTORS®' offices are open. If you would like to email your question instead, the email address is: legalhotline@ncrealtors.org. Tech HelpLine - (877) 573-5612

Either way, being familiar with the Palmetto State's property and real estate laws might end up saving you some time and trouble down the line. The links below provide state-specific laws on a number of property and real estate topics -- including the landlord-tenant relationship, and how property ownership can be gained through a process. North Carolina law recognizes five methods of creating easements. Express Grant - An express easement is created by a written agreement between the parties. A deed which grants an easement from one land owner to another is an express grant. Implied Easement - An implied easement is one imposed by law and may be inferred from the facts. Complete North Carolina Real Estate Drill and Practice QBank v4.0 $99.00 Prepare for your exam with thousands of questions designed to mimic the exam. Get the practice you need to pass the North Carolina and national portions of the PSI Real Estate exam. You have access to thousands of current and accurate questions designed to mimic the exam As you guys know, the real estate exam is broken up into a national section and a state section. The real estate exam practice exam questions below are for the national portion. For the state portion, do not trust ANY real estate exam prep website as these questions change all the time due to State laws Probate in NC and SC is carried out in the court system of the county in which the decedent was a permanent resident at the time of death. However, Real Property passes under the laws of the state in which it is located, not the state of domicile of the decedent. In many cases an Ancillary Administration is needed in the county where the Real.

Think you are ready to pass the real estate exam?Test Your Knowledge with our FREE Real Estate Exam 8 Common Questions about Real Estate and Divorce A real estate lawyer answers eight of the most common questions about real estate and divorce from couples going through this tough stage in their lives. By Lee A. Drizin Updated: April 29, 2018 Categories: Financial Issues, Legal Issues, Property Divisio Any real estate will be subject to tax at its location. This area of law can be quite complicated. It is important to know what exemptions, deductions and credits may be available, and what options are available to reduce estate taxes. Q: What Does an Executor Do? Your executor is a fiduciary who is responsible for settling your estate. This.

NCREC Bulletins - Sellers Required by Law to Provide Two

The seller's real estate agent. Some states' laws make sellers' agents liable for failing to disclose problems they observed or were told of by the sellers. Although real estate agents' duties are fairly limited, and they are usually not required to conduct any affirmative inspections themselves before selling, agents are typically prohibited. Start with Avvo. You'll find plenty of free legal advice in Avvo's guides with information on over 1,000 legal topics and over 7 million questions and answers. Just remember that laws can vary significantly from state to state. When researching online, don't rely on information about another state's laws, as it may not be relevant to your. North Carolina General Assembly. Legislative Building. 16 West Jones Street. Raleigh, NC 27601 (919) 733-4111 (Main) (919) 715-7586 (Fax


PSI specializes in Real Estate, Insurance, General Contractor, Construction and Trades. If you are a provider of education within any of the verticals offered to PSI candidates and would like to be considered for addition to the PSI Learning Academy or have any other questions - contact psilearningacademy@psionline.com GPS Law Group is fantastic. They helped me close a very complicated real estate deal and gave hope to a legal situation that other law firms declared hopeless. Because of GPS Law group, abusive people will be held accountable. Doug Simmons and GPS law are all the legal help you need. - M Ruf In North Carolina, leases can be written or verbal. Whenever there is a lease entered into between a landlord and a tenant, North Carolina law (NC General Statutes Chapter 42 Article 5) automatically provides certain rights to the tenant like the right to a habitable rental unit and to the return of the security deposit.North Carolina landlords also have certain rights, such as the right to.

The pass fail ratio for the North Carolina real estate exam is 59% for the last twelve months. That is 6417 applicants took the North Carolina real estate exam. 3763 of those applicants passed. Forty one per cent of the real estate exam applicants will be paying to take the exam again. Twenty three per cent of those repeat test takers will pass Raleigh Real Estate Law is the best in the area! I was a first-time seller with a lot of questions; Katie was a knowledgeable attorney who answered all my questions and was happy to explain every step of the process This product has prep for ONLY the state portion of the exam, not the national portion, which is less than half of the state licensing exam. Product includes interactive study tools, dynamic practice tests & simulated exams to help you pass the North Carolina portion of the real estate licensing exam the first time. 100% money back guarantee Free Real Estate Nevada Exam (2021) Nevada Exam. Want more questions? Purchase here! Question 1 of 10. The Commission may take disciplinary action against any licensee who. Provides a brokerage agreement to all parties. Guarantees future profits on the future sale of a property. Charges anything above 6% in commission The law requires that the Department of Real Estate (DRE) ascertain, by written examination, the competency of a prospective real estate licensee. DRE cannot waive this examination requirement. This chapter discusses the examination process in general, details the scope of the examinations and includes practice questions

Use FindLaw to hire a local real estate lawyer near you to help you when you have real estate problems like a dispute with the homeowner's association or noise from neighbors, recording issues involving your deed (e.g., an easement or encroachment), or your mortgage (e.g., a lien or mortgage fraud) SC Real Estate Licensing Law: Effective date July 1, 2020 . Page . 2. of . 26 (8) Conversion means to use trust funds for a purpose other than the purpose for which they are held. Conversion is a breach of trust and is a crime as provided by law The answer to this question depends on your location. While state laws are always changing, there are approximately 20 states which require you to have an attorney at the closing. Join LegalShield and your attorney can help you determine what the real estate laws in your state require D. Todd Wulfhorst. Denver, NC Real Estate Law Attorney with 28 years of experience. (704) 483-3415 3758 Highway 16 N. Denver, NC 28037. Real Estate, Business, Collections and Criminal. University of North Carolina - Chapel Hill. View Website View Lawyer Profile Email Lawyer. Claimed Lawyer Profile Social Media. Verna Carol Bash-Flowers Virginia Real Estate Principles. Flashcard Maker: Tasia Segal. 602 Cards -. 31 Decks -. 2 Learners. Sample Decks: Unit 1: Intro to the Real Estate Business- 4%, Unit 2: Real Property and the Law- 4%, Unit 3: Interests in Real Estate- 2%

Re: dividing family land among heirs. You will need to get a surveyor to draw up a legal description for the parcel. Then all 5 siblings execute a deed which conveys all of their undivided interest in that particular parcel. You can probably get an attorney to draw up a proper deed for around $100. Be sure and do it correctly so it doesn't come. Real Estate Law Firm in Lumberton, NC serving Southeastern, NC - Robeson, Bladen, Brunswick counties. Real Estate Lawyer Lumberton, NC - Real Estate Attorney HOME. REAL PROPERTY LAW. LOAN CALCULATOR. WHAT TO BRING TO CLOSING. BUYER QUESTIONS. SELLER QUESTIONS. CONTACT

To be eligible to become a licensed North Carolina real estate agent, you must: Be at least 18 years old. Be a US citizen, a non-citizen national, or a qualified alien under federal law. You are not required to be a resident of North Carolina. Complete a state-approved 75-hour broker prelicensing course A real estate attorney can stop or mitigate a foreclosure, defend you if a real estate transaction goes wrong, or represent you as a tenant or as a landlord in cases of property damage. Whether for construction, a land-use project, or buying a home, a lawyer can negotiate your contract for you and protect your rights as a property owner


Whether you are a buying or selling a house, or own property like a condo, single family residence, or commercial real estate, a real estate lawyer may help. Use FindLaw to hire a local real estate lawyer near you to help you when you have real estate problems like a dispute with the homeowner's association or noise from neighbors, recording. BBB Rating: A+. 26. YEARS. IN BUSINESS. Website Directions. (919) 228-4487. 201 Shannon Oaks Cir. Suite #200. Cary, NC 27511. From Business: Hank provides all of his clients with the personal attention and legal expertise that they deserve, no matter how large or small their case may be


Home Buying Basics in North Carolina Lawyers

Laws and Policies. Real Estate License Law . Real Estate Education Regulations. Residential Property Condition Disclosure Act. South Carolina Residential Landlord and Tenant Act. Vacation Time Sharing Plans Act. Uniform Land Sales Practice Act. Real Trust Account Guideline Turn to our law firm if you need to speak with a... Real estate closing attorney Eminent domain attorney Personal injury attorney Business attorney Set up your consultation with an esteemed local attorney now. Serving clients from the Boiling Spring Lakes, NC area

Questions to Ask if You Own Real Property With Joint Title

North and South Carolina laws approach trusts in largely the same manner. One slight difference, however, is the relative amount that can be saved by using a trust to avoid probate. Under North Carolina law, the probate court is entitled to take a small percentage of the probate estate value in fees. In North Carolina, this percentage is 0.004% Meek Law Firm - Real Estate, Business & Family Attorney Charlotte NC. Touch to Call (704) 848-6335. Touch to Contact Us Your North Carolina Real Estate Experts. J.Y. Monk Real Estate School has changed its name to Kaplan Real Estate Education. Kaplan has been an educational partner of J.Y. Monk since 2010, and we are excited to continue being your provider of quality real estate broker licensing and continuing education courses. We only succeed when you succeed NC Real Estate licensing law requires all funds received to be deposited immediately into a trust account. Placing personal funds in the same account as trust fund is known as A. Prohibited Acts B. Puffing C. Fraud D. Cominglin

Real Estate and Real Property Questions and Answers

As of this writing, North Carolina estates valued less than $20,000 (after estate debts, liens, etc. are paid) qualify for small estate procedures. If the sole heir is the surviving spouse, estates valued at less than $30,000 qualify. Real property values are not included in these valuations. Starting a small estate application process in North. NORTH CAROLINA MUNICIPAL AND COUNTY LAWS State laws in North Carolina impact many provisions in the ordinance codes of North Carolina municipalities and counties. This pamphlet is intended to assist city, town and county attorneys in the A building code or other real estate use ordinance may not prohibit th The ethics opinions adopted under the Revised Rules of Professional Conduct (effective July 24, 1997) follow the RPCs and are designated as Formal Ethics Opinions. Each RPC bears the identifying number assigned to it at the time of its initial publication in the State Bar's quarterly publication. The Formal Ethics Opinions, on the other hand. You've made a smart choice going after Real Estate Agent License. First, you have to pass the exam which will consist of 100 Multiple Choice Questions about general real estate concepts, and 80 questions that are specific to state licensing laws. Most U.S. States administer the tests in 2 parts and require that the candidate pass both. [ A no-nonsense review of due diligence and earnest money in the NC Offer to Purchase and Contract. In 2011, the North Carolina Real Estate Commission introduced a revised Offer to Purchase and Contract (always seeking to protect consumers) and with that, a new term called due diligence. Well, change doesn't come easy, and this new concept and contract came with its own challenges for many NC.

Selling a North Carolina Home: What Are My Disclosure

It does not apply to collateral agreements such as between a real estate agent and one of the parties to the sales contract regarding the real estate agent's commission. Another type of contract that must be in writing is the promise to answer for the debt of another person A comprehensive database of more than 56 real estate quizzes online, test your knowledge with real estate quiz questions. Our online real estate trivia quizzes can be adapted to suit your requirements for taking some of the top real estate quizzes General real estate law questions include learning the difference between residential and commercial leases, who is responsible for home repairs following a home purchase, understanding the risks of property ownership, and more. Enter your ZIP code if you need to get in touch with a real estate attorney near you

A Guide to North Carolina Inheritance Laws - SmartAsse

Addressing discrimination in the sale, rental or financing of homes. Fair housing means all persons have equal opportunity to be considered for rental units, purchase of property, housing loans, and property insurance. The State Fair Housing Act makes it illegal to discriminate in housing because of race, color, religion, sex, national origin, physical or mental handicaps, or family status. North Carolina covers the duties for executors in Chapter 28A of the state statutes. Executors are responsible for settling the deceased's debts, paying any taxes the estate or the deceased owes and distributing the estate assets to heirs. The job involves a number of deadlines. The final accounting is usually due.

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Practice Tests, Study Guides, and Flashcards for the Real Estate License Exam. Every state has different requirements for becoming a real estate agent, broker, or appraiser, but every state requires you to take and pass a test to become licensed. Before taking the real estate licensing examination you must also take a pre-licensure class, and the hours required can be anywhere from 20 to. Raleigh Real Estate Law is the best in the area! I was a first-time seller with a lot of questions; Katie was a knowledgeable attorney who answered all my questions and was happy to explain every step of the process The COVID-19 pandemic is impacting members in unprecedented ways and raises numerous unique and novel issues for the real estate industry. Through this guidance, NC REALTORS® aims to respond to commonly asked questions and to empower members to successfully navigate their real estate businesses during these challenging, and continually evolving, circumstances The North Carolina General Assembly offers access to the Statutes on the Internet as a service to the public. The Webmanager is unable to assist users of this service with legal questions. Additionally, legislative staff cannot respond to requests for legal advice or the application of the law to specific facts from anyone except members of the.