This concludes Chapter 22. Below is a brief summary which you can review before you take your chapter quiz. 

Real estate brokerage involves the agency that is directed primarily toward the sale or managing of real property, FOR COMPENSATION.

A notary must be certain that the person personally appears and provides acceptable forms of identification. A notary public's journal include the right thumb print of a person signing a deed affecting real property. 

A real estate licensee must ALWAYS disclose to her principal any material fact the agent knows which will affect the principal's decisions in a transaction. 

A mobile home park with five or more lots for sale or lease is legally considered a subdivision.

To convert a mobile home into REAL PROPERTY:

1. The mobile homeowner must obtain a building permit and a Certificate of Occupancy.
2. The mobile home must be placed on a permanent foundation;
3. A document stating that the mobile home has been attached to a permanent foundation must be RECORDED.

Legal requirements for mobile homes:

1. Real estate licensees may sell USED (never NEW) mobile homes ifthese homes have already been registered and are on a lot or park.
2. The mobile home MUST BE capable of being transported over a road.
3. A notification must be made within 10 days of the sale date. Mobile homeowners must pay an In Lieu Tax. 

Real estate licensees may have their licenses suspended or revoked when not providing the property certificate of ownership of a mobile home; and other illegal acts.

A mobile home park landlord may terminate the tenant if the tenant doesn’t comply with state laws/mobile home park’s rules and regulations.

Mineral, oil, and gas subdivisions are those created for the sale, lease, or financing of 5 or more speculative parcels of land for mineral, oil, or gas purposes. A real estate licensee does not need a specialized license to work with MOG transactions.

A real estate broker is considered a principal when:

1. Buying/leasing mineral, oil or gas property for the purpose of exchange of a lease of the property;
2. Offering mining claims, or any interest, for sale or assignment.