Real Esate

Recovery Fund

• To assist an aggrieved party in recovering actual or compensatory damages not paid by licensee when ordered to do so

• Is the period between Oct. I of one year and September. 30 of the year designated by the Commission to be the final year of the license period during which the license is valid. The license period is 2 years, beginning and end in even numbered years

• is any person who is licensed as a broker on the articles, 1 and 2 of the Alabama real estate license law

Salesperson

• To assist an aggrieved party in recovering actual or compensatory damages not paid by licensee when ordered to do so

• Is the period between Oct. I of one year and September. 30 of the year designated by the Commission to be the final year of the license period during which the license is valid. The license period is 2 years, beginning and end in even numbered years

• is any person licensed as a salesperson under Articles 1 and 2 of the Alabama Real Estate License Law for the purposes of conducting real estate transactions

Licensee

• Refers to the Alabama Real Estate Commission (AREC) but can also mean the fee paid to a broker or salesperson in relation to real estate transactions.

• is any broker, salesperson, or company under Alabama Real Estate License Law

• is any person licensed as a salesperson under Articles 1 and 2 of the Alabama Real Estate License Law for the purposes of conducting real estate transactions

Commission

• Refers to the Alabama Real Estate Commission (AREC) but can also mean the fee paid to a broker or salesperson in relation to real estate transactions.

• is any person who is licensed as a broker on the articles, 1 and 2 of the Alabama real estate license law

• is a licensed broker who is responsible for supervising the real estate acts of a soul proprietorship, corporation, partnership, branch office, or lawful business organization, and all real estate licensees associated with the company or proprietorship

Licensee Period

• Refers to the Alabama Real Estate Commission (AREC) but can also mean the fee paid to a broker or salesperson in relation to real estate transactions.

• is any person licensed as a salesperson under Articles 1 and 2 of the Alabama Real Estate License Law for the purposes of conducting real estate transactions

• Is the period between Oct. I of one year and September. 30 of the year designated by the Commission to be the final year of the license period during which the license is valid. The license period is 2 years, beginning and end in even numbered years

Place of Business

• is a designated office from which the licensee conducts real estate business. The office may not also be used for a living purposes, or any other business purposes, and must have separate business telephone and be properly identified as a real estate office. The office is also the place were all business records in files must be kept as required by law.

• is a licensed broker who is responsible for supervising the real estate acts of a soul proprietorship, corporation, partnership, branch office, or lawful business organization, and all real estate licensees associated with the company or proprietorship

• To assist an aggrieved party in recovering actual or compensatory damages not paid by licensee when ordered to do so

Broker

• is the purchase, sale, lease, rental, option, or exchange of the interest in real estate

• is any person who is licensed as a broker on the articles, 1 and 2 of the Alabama real estate license law

• Is the period between Oct. I of one year and September. 30 of the year designated by the Commission to be the final year of the license period during which the license is valid. The license period is 2 years, beginning and end in even numbered years

Real Estate Transactions

• is the purchase, sale, lease, rental, option, or exchange of the interest in real estate

• is any broker, salesperson, or company under Alabama Real Estate License Law

• is any person who is licensed as a broker on the articles, 1 and 2 of the Alabama real estate license law

Qualifying Broker

• is a licensed broker who is responsible for supervising the real estate acts of a soul proprietorship, corporation, partnership, branch office, or lawful business organization, and all real estate licensees associated with the company or proprietorship

• Is the period between Oct. I of one year and September. 30 of the year designated by the Commission to be the final year of the license period during which the license is valid. The license period is 2 years, beginning and end in even numbered years

• Refers to the Alabama Real Estate Commission (AREC) but can also mean the fee paid to a broker or salesperson in relation to real estate transactions.