Newly Released Real Estate Maryland-Real-Estate-Salesperson Exam PDF

In real property conveyance, certain interests and transfers occur by operation of law and therefore supersede contrary provisions in a will. Common examples include joint tenancy with right of survivorship, tenancy by the entirety, life estates with a named remainderman, and properly created transfer-on-death/beneficiary designations. These interests vest automatically at death and are not controlled by the decedent’s will.

“Intestate” refers to dying without a valid will and does not itself take precedence over a will. The heirs’ wishes have no legal effect against properly vested interests. Therefore, where applicable, operation of law controls over will terms regarding those interests.

For recordation in Maryland, a deed must be acknowledged (typically before a notary or other authorized officer). Acknowledgment authenticates the grantor’s execution of the instrument, satisfying recording requirements. “Conveyed” and “transferred” describe the act of alienation, not the statutory prerequisite to recording; “verified” is not the recording standard.

A syndicate is an association of two or more investors who unite their capital to own or develop real estate projects.

When investment interests are offered to the public, the syndicate becomes subject to federal securities regulations administered by the Securities and Exchange Commission (SEC).

Maryland’s pre-licensing course explains that syndications may take the form of limited partnerships, corporations, or real-estate investment trusts (REITs), but the unifying element is pooled investor participation under securities law oversight.

Reference (Maryland Source):

– Maryland 60-Hour Principles and Practices Course, Forms of Ownership and Syndication section.

– Securities Act of 1933 and 1934 (SEC Regulations).

Under Maryland landlord-tenant law, the landlord must return the tenant’s security deposit, with any required interest, within 45 days after the end of the tenancy, less any permissible deductions for unpaid rent or damages beyond ordinary wear and tear. The landlord must also provide an itemized statement of any deductions. The 45-day deadline is statutory and is emphasized in Maryland pre-licensing instruction within property management and leasing modules.

References (Maryland Sources / Pre-Licensing Core Content):

Maryland Real Property Article §8-203 (Security Deposits) — return within 45 days; interest; itemization of deductions.

Maryland 60-Hour Pre-Licensing Course: “Leases and Property Management” (security deposits; deadlines; itemized statements).