Alabama License LawIntermediateAlabama Exam
An Alabama broker must notify AREC within 30 days of which of the following events?
AListing a property
BA change in business addressCorrect
CAccepting a new client, in general
DCompleting a sale
Why A change in business address Is Correct
Answer B: A change in business address
Alabama licensees are required to notify AREC within 30 days of any change in their business address.
Key Alabama License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
State-Specific Concepts
DRE RegulationAREC Regulation
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