Source: http://studydroid.com/index.php?page=viewPack&packId=17735
Timestamp: 2017-04-27 12:50:11
Document Index: 456115841

Matched Legal Cases: ['§ 455', '§ 35', '§ 35', '§ 101', '§ 701', '§ 734', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35', '§ 35']

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by ebaumcratz
Print Front Back Act : The Real Estate Licensing and Registration Act (63 P. S. § § 455.101—455.902)
Agency relationshipA fiduciary relationship between a broker or licensees employed by a broker and a consumer who becomes a principal.
Associate broker An individual broker who is employed by another broker. Branch office Any fixed location in this Commonwealth, other than the main office, maintained by a broker or cemetery broker, devoted to the transaction of real estate business.
Broker An individual or entity holding either a standard or reciprocal license, that, for another and for a fee, commission or other valuable consideration, does one or more of the following: (i) Negotiates with or aids a person in locating or obtaining for purchase, lease or acquisition of interest in real estate. (ii) Negotiates the listing, sale, purchase, exchange, lease, time share and similarly designated interests, financing or option for real estate. (iii) Manages real estate. (iv) Represents himself or itself as a real estate consultant, counsellor or house finder. (v) Undertakes to promote the sale, exchange, purchase or rental of real estate. This subparagraph does not apply to an individual or entity whose main business is that of advertising, promotion or public relations. (vi) Undertakes to perform a comparative market analysis (vii) Attempts to perform one of the actions listed in subparagraphs (i)—(vi).
Broker of record The individual broker responsible for the real estate transactions of a partnership, association or corporation that holds a broker’s license.
Builder-owner salesperson An individual holding either a standard or reciprocal license, who is a full-time employee of a builder-owner of single- and multi-family dwellings located in this Commonwealth and who is authorized, for and on behalf of, the builder-owner, to do one or more of the following: (i) List for sale, sell or offer for sale real estate of the builder-owner. (ii) Negotiate the sale or exchange of real estate of the builder-owner. (iii) Lease or rent, or offer to lease, rent or place for rent, real estate of the builder-owner. (iv) Collect or offer, or attempt to collect, rent for real estate of the builder-owner.
Bureau The Bureau of Professional and Occupational Affairs of the Department.
Buyer agent A licensee who enters into an agency relationship with a buyer/tenant Campground membership An interest, other than in fee simple or by lease, which gives the purchaser the right to use a unit of real property for the purpose of locating a recreational vehicle, trailer, tent, tent trailer, pickup camper or other similar device on a periodic basis under a membership contract allocating use and occupancy rights between other similar users
An individual or entity holding either a standard or reciprocal license, that is engaged as, or carrying on the business or acting in the capacity of, a broker exclusively within the limited field or branch of business that applies to cemetery lots, plots and mausoleum spaces or openings.
An individual or entity that offers or sells to the public the ownership, or the right to use, a cemetery lot
An individual holding either a standard or reciprocal license, employed by a broker or cemetery broker exclusively to perform the duties of a cemetery broker.
A written analysis, opinion or conclusion by a contracted buyer’s agent, transactional licensee or an actual or potential seller’s agent relating to the probable sale price of a specified piece of real estate in an identified real estate market at a specified time, offered either for the purpose of determining the asking/offering price for the property by a specific actual or potential consumer or for the purpose of securing a listing agreement with a seller
An individual or entity who is the recipient of any real estate service
A period of 15 hours of instruction. Department
The Department of State of the Commonwealth
One or more licensees designated by the employing broker, with the consent of the principal, to act exclusively as the agent or agents for the principal to the exclusion of all other licensees within the broker’s employ.
Real estate instruction delivered in an independent or instructor-led format during which the student and the instruction are separated by distance and sometimes time.
A licensee who acts as an agent for the buyer/tenant and seller/landlord in the same transaction.
Hour of instruction
A period of at least 50 minutes
An interactive educational program, including computer-based technology courses, that provides no contact with an instructor.
The first substantive discussion between a licensee and a consumer about the consumer’s real estate needs
An interactive educational program, including a classroom or simulated classroom, that provides significant ongoing contact from the instructor to the participant during the learning process.
An individual or entity holding either a standard or reciprocal license, under the act. For purposes of the consumer notice in § 35.336(a)(relating to disclosure summary for the purchase or sale of residential or commercial real estate or for the lease of residential or commercial real estate when the licensee is working on behalf of the tenant), the term means a broker or salesperson. Listing broker
A broker who has entered into a written agreement with a seller/landlord to market property as a seller’s agent, dual agent or transaction licensee. Main office
The fixed location other than a branch office of the broker or cemetery broker in this Commonwealth or another state devoted to the transaction of real estate business.
The individual rental listing referral agent responsible for the rental listing transactions of a partnership, association or corporation that holds a rental listing referral agent’s license
Nonexclusive buyer agency agreement
A nonexclusive agreement governed by a memorandum or contract wherein the buyer retains the right to employ multiple brokers to purchase or lease a property Open listing agreement
A nonexclusive listing agreement governed by a memorandum or contract wherein the seller retains the right to employ multiple brokers to sell or lease a property.
A consumer who has entered into an agency relationship with a broker or another licensee employed by the broker. Principal place of business
The fixed location of the broker or cemetery broker in the state where the licensee holds the equivalent of a standard license. Real estate
An interest or estate in land-whether corporeal or incorporeal, whether freehold or nonfreehold, whether the land is situated in this Commonwealth or elsewhere—including leasehold interests and time share and similarly designated interests.
Real estate education provider
A person or institution who offers real estate education regardless of whether the learning is instructor-led or independent, excluding colleges, universities or institutes of higher learning accredited by the Middle States Association of Colleges and Secondary Schools or equivalent accreditation. Reciprocal license
A license issued to an individual or entity whose principal place of business for the provision of real estate services is outside of this Commonwealth and who holds a current license to provide real estate services from a state that either has executed a reciprocal agreement with the Commission or has qualifications for licensure which are substantially comparable to those required by the Commission. Rental listing referral agent
(i) An individual or entity that owns or manages a business which collects rental information for the purpose of referring prospective tenants to rental units or locations of rental units. (ii) The term does not include an official or employee of a public housing authority that is created under State or Federal law. Salesperson
An individual holding either a standard or reciprocal license, who is employed by a broker to do one or more of the following: (i) Sell or offer to sell real estate, or list real estate for sale.(ii) Buy or offer to buy real estate.(iii) Negotiate the purchase, sale or exchange of real estate.(iv) Negotiate a loan on real estate.(v) Lease or rent real estate, or offer to lease or rent real estate or to place real estate for rent.(vi) Collect rent for the use of real estate, or offer or attempt to collect rent for the use of real estate.(vii) Assist a broker in managing property.(viii) Perform a comparative market analysis.
A licensee who enters into an agency relationship with a seller/landlord.
A license, other than a reciprocal license, issued to an individual or entity who has fulfilled the education/experience and examination requirements of the act.
A licensee, not in the employ of the listing broker, who acts or cooperates with the listing broker in selling property as a seller’s/landlord’s agent and is deemed to have an agency relationship with the seller. Time share
(i) The right, however evidenced or documented, to use or occupy one or more units on a periodic basis according to an arrangement allocating use and occupancy rights of that unit or those units between other similar users. As used in this definition, the term ‘‘unit’’ is a building or portion thereof permanently affixed to real property and designed for separate occupancy or a campground membership or portion thereof designed for separate occupancy. (ii) The term does not include a campground membership
An individual who, either as an employee or an independent contractor, sells or offers to sell time shares
A licensee who, without entering into an agency relationship with the consumer, provides communication or document preparation services or performs other acts listed in the definition of ‘‘broker’’ or ‘‘salesperson.’’ § 35.202. Exclusions from the act. The following categories of individuals and entities are excluded from the act and this chapter: (1) An owner of real estate with respect to property owned or leased by the owner. In the case of a corporation or partnership, this exclusion does not extend to more than five of the partnership’s partners or the corporation’s officers, nor to the other employes of the partnership or corporation. (2) An employe of a public utility acting in the ordinary course of utility-related business under 66 Pa.C.S. § § 101—3315 (relating to the Public Utility Code), with respect to negotiating the purchase, sale or lease of real estate. (3) An officer or employe of a partnership or corporation whose principal business is the discovery, extraction, distribution or transmission of energy or mineral resources, if the purchase, sale or lease of real estate is a common and necessary transaction in the conduct of the principal business. (4) An attorney in fact who renders services under an executed and recorded power of attorney from an owner or lessor of real estate, if the power of attorney is not used to circumvent the intent of the act. The Commission will consider it a circumvention of the intent of the act for an owner or lessor of real estate to grant a power of attorney to a property manager for the sole purpose of avoiding the necessity of having the property managed by a real estate broker licensed under the act. (5) An attorney-at-law who receives a fee from his client for rendering services within the scope of the attorney-client relationship and does not hold himself out as a real estate broker. (6) A trustee in bankruptcy, administrator, executor, trustee or guardian who is acting under authority of a court order, will or trust instrument
(7) An elected officer or director of a banking institution, savings institution, savings bank, credit union or trust company operating under applicable Federal or State statutes when only the real estate of the banking institution, savings institution, savings bank, credit union or trust company is involved. (8) An officer or employe of a cemetery company who, as an incidental part of his principal duties and without remuneration therefore, shows lots in the company’s cemetery to persons for use as family burial lots and who accepts deposits on the lots for a representative of the cemetery company legally authorized to sell them. (9) A cemetery company or cemetery owned or controlled by a bona fide church or religious congregation or fraternal organization or by an association created by a bona fide church or religious organization or fraternal organization. (10) An auctioneer licensed under The Auctioneers’ License Act (63 P. S. § § 701—732) (Repealed) or The Auctioneer and Auction Licensing Act (63 P. S. § § 734.1—734.34) while performing authorized duties at a bona fide auction. (11) An individual who is employed by the owner of multifamily residential dwellings to manage or maintain the dwellings and who is not authorized by the owner to enter into leases on the owner’s behalf, to negotiate terms and conditions of occupancy with current or prospective tenants, or to hold money belonging to the tenants other than on the owner’s behalf. So long as the owner retains authority to make decisions, the individual may show apartments and provide information on rental amounts, building rules and regulations and leasing determinations.
(12) An elected officer, director or employe of a banking institution, savings institution, savings bank, credit union or trust company operating under applicable Federal or State statutes when acting on behalf of the banking institution, savings institution, savings bank, credit union or trust company in performing appraisals or other evaluations of real estate in connection with a loan transaction.
§ 35.221. General requirements.
In addition to meeting the other requirements of this subchapter pertaining to the specific license sought, an applicant for a standard or reciprocal real estate license shall submit the following to the Commission with the license application: (1) The license fee prescribed in § 35.203 (relating to fees). (2) Complete details of a conviction of, or plea of guilty or nolo contendere to, a felony or misdemeanor and the sentence imposed. In the case of an applicant that is a corporation, partnership or association, this requirement applies to each member of the partnership or association and to each officer of the corporation. (3) Written consent that valid and binding service of process may be made on the applicant by serving the Chairperson of the Commission and the Secretary of the Commonwealth if the service of process cannot be made on the applicant under 231 Pa. Code (relating to rules of civil procedure) for actions at law or in equity arising out of the applicant’s real estate activities in this Commonwealth.
§ 35.222. Licensure as a broker. (a) An individual who wants to obtain a standard broker’s license shall comply with § 35.221 (relating to general requirements) and: (1) Have scored a passing grade on each part of the broker’s licensing examination within 3 years prior to submission of a properly completed license application except that an applicant who has been actively licensed as a broker by another state within the last 5 years shall take and pass only the Pennsylvania portion of the examination. See § 35.271 (relating to examination for broker’s license). (2) Comply with § § 35.241 and 35.242 (relating to general office requirement; and office of broker or cemetery broker). (3) Submit a completed application to the Commission with recommendations attesting to the applicant’s good reputation for honesty, trustworthiness, integrity and competence from: (i) One real estate broker holding either a current standard or reciprocal license issued by the Commission. (ii)Two persons unrelated to the applicant who own property in the county where the applicant resides or has a place of business. (iii)Two persons unrelated to the applicant who own property in the county where the applicant previously resided, if the applicant changed his county of residence within 1 year prior to the submission of the application. (b) An individual who wants to obtain a reciprocal broker’s license shall comply with § 35.221 and: (1) Possess a current broker’s license issued by another state that agrees to issue a license to a standard Pennsylvania licensee without further requirement, or has qualifications for licensure substantially comparable to those required by the Commission. When a reciprocal applicant applies from a state which would require a Pennsylvania licensee to complete additional education, experience or examination requirements, the reciprocal applicant shall complete equivalent requirements for licensure in this Commonwealth. (2) Comply with § 35.241 and § 35.242. (3) Submit a completed license application to the Commission with a verified statement that: (i) To the applicant’s knowledge, the applicant is not the subject of discipline or a current investigation or proceeding alleging misconduct under a licensing law or criminal law of either the Commonwealth or another state. (ii) The applicant has reviewed, is familiar with and agrees to be bound by the act and this chapter. (iii) The applicant agrees to permit the disclosure of the record in any disciplinary proceeding involving alleged misconduct by the applicant from any state in which the applicant is or has been licensed. (4) If the applicant will be acting as an associate broker, submit a sworn statement from the broker with whom the applicant desires to be affiliated: (i) Attesting to the applicant’s good reputation for honesty, trustworthiness, integrity and competence. (ii) Certifying that the applicant will be actively supervised and trained by the broker. (5) Submit a certification from the real estate licensing authority of the other state: (i)Confirming that the applicant’s license is active and in good standing. (ii) Describing any past disciplinary action taken by the licensing authority against the applicant. (iii) Listing the applicant’s office address and the name of the applicant’s employing broker. (c) A partnership, association or corporation that wants to obtain a standard or reciprocal broker’s license shall: (1) Ensure that each member of the partnership or association, or each officer of the corporation, who intends to engage in the real estate business holds either a current standard or reciprocal license issued by the Commission as a salesperson or broker. (2) Designate an individual who is licensed by the Commission as a broker to serve as broker of record. (3) Comply with § 35.241 and 35.242. (4) Submit a completed license application to the Commission.
(a) An individual who wants to obtain a standard salesperson’s license shall comply with § 35.221 (relating to general requirements) and: (1) Have scored a passing grade on each part of the salesperson’s licensing examination within 3 years prior to the submission of a properly completed license application except that an applicant who has been actively licensed as a broker or a salesperson by another state within the last 5 years shall take and pass only the Pennsylvania portion of the examination. See § 35.272 (relating to examination for salesperson’s license). (2) Submit a completed license application to the Commission with: (i) A sworn statement from the broker with whom the applicant desires to be affiliated: (A) Attesting to the applicant’s good reputation for honesty, trustworthiness, integrity and competence. (B) Certifying that he will actively supervise and train the applicant. (ii) Official transcripts evidencing the acquisition of degrees or course credits required by § 35.272(a)(2). (b) An individual who wants to obtain a reciprocal salesperson’s license shall comply with § 35.221 and: (1) Possess a current broker’s or salesperson’s license issued by another state that agrees to issue a license to a standard Pennsylvania licensee without further requirement or has qualifications for licensure which are substantially comparable to those required by the Commission. When a reciprocal applicant applies from a state which would require a Pennsylvania licensee to complete additional education, experience or examination requirements, the reciprocal applicant shall complete equivalent requirements for licensure in this Commonwealth. (2) Submit a completed license application to the Commission with a verified statement that: (i) To the applicant’s knowledge, the applicant is not the subject of discipline or a current investigation or proceeding alleging misconduct under a licensing law or criminal law of either the Commonwealth or another state. (ii) The applicant has reviewed, is familiar with and agrees to be bound by the act and this chapter. (iii) The applicant agrees to permit the disclosure of the record in any disciplinary proceeding involving alleged misconduct by the applicant from any state in which the applicant is or has been licensed. (3) Submit a certification from the real estate licensing authority of the other state: (i) Confirming that the applicant’s license is active and in good standing. (ii) Describing any past disciplinary action taken by the licensing authority against the applicant. (iii) Listing the applicant’s office address and the name of the applicant’s employing broker. (4) Submit a sworn statement from a standard or reciprocal broker with whom the applicant will be affiliated: (i) Attesting to the applicant’s good reputation for honesty, trustworthiness, integrity and competence. (ii) Certifying that the applicant will be actively supervised and trained by the broker. x of y cards
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