Property Management
A property manager in New Mexico who signs leases on behalf of the owner is exercising what type of authority?
AExpressed authority from the management agreement✓ Correct
BImplied authority only
CApparent authority only
DEmergency authority
Explanation
Express authority is authority explicitly granted in writing (in the management agreement). If the management agreement authorizes signing leases, the manager has express authority to do so.
Related New Mexico Property Management Questions
- In New Mexico, a commercial tenant who 'holds over' after their lease expires without the landlord's consent is a:
- A New Mexico commercial tenant with a 'build-out allowance' lease provision receives:
- In New Mexico, which of the following best describes a 'gross lease' with a 'stop clause'?
- In a triple net (NNN) lease common in New Mexico commercial properties, the tenant pays:
- Under New Mexico law, when may a landlord enter a tenant's unit for non-emergency repairs?
- In New Mexico, a residential tenant who repairs a habitability defect themselves and deducts the cost from rent (repair-and-deduct) is allowed to do so under:
- When a New Mexico tenant abandons a rental property, the landlord must:
- In New Mexico, the maximum security deposit a landlord may charge for an unfurnished residential unit is:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →