Virginia Real Estate - State Portion 62 Correctly Answered Questions Latest Update

independent contractor {Ans: a licensee who acts for or represents a client other than as a standard agent and whose duties and obligations are governed by a WRITTEN contract between a licensee and the client}dwelling {Ans: any building, structure, or portion thereof, that is occupied as a residence by one or more families, and any vacant land}resale certificate {Ans: the disclosures required to be given by a condo unit owner to a prospective buyer that provide financial and legal information about the community, specific issues related to the unit being sold, a copy of the bylaws, rules and regulations, architectural guidelines, occupancy limitations, etc.}VA Fair Housing Regulations {Ans: regulations of the Real Estate Board illustrating and implementing the VA Fair Housing Law; found in Title 18, Agency 135, Chapter 50 of the VA Administrative Code}lease {Ans: written contract between the property owner and a tenant, where the possession of land and building is granted by the owner to the tenant for a specified period of time for a specified amount of rent}elderliness {Ans: any person over the age of 55}