Other LanguagesOwners of residential income properties may assign their entitlement (under RCW 59.18.270) to interest on a trust bank account containing damage or security deposits to the real estate broker managing the property who has been designated as the representative of the owner; however, in order to avoid a violation of RCW 18.85.310, the interest moneys must not be initially deposited into the trust account but must, instead, be immediately credited to the real estate broker's own separate account.
A corporation may be licensed as an "associate real estate broker" under RCW 18.85.010, et seq.
Under RCW 59.20.070(1) a mobile home landlord may not prohibit or restrict a tenant from advertising that his or her mobile home is for sale by such normal means as posting a sign either on the mobile home itself or on the leased or rented premises.
Because of the necessity for a legally sufficient description in connection with an offer to sell, or sale of, real property an offer to sell a portion of a larger tract of land, or the execution of a purchase and sale agreement covering such a tract of land, constitutes a "division" of the land under the definition of a "short subdivision" contained in RCW 58.17.020(6) or (7) so as to render applicable the various provisions of chapter 58.17 RCW relating to short plats and short subdivisions.
A licensed real estate salesman, in engaging in rental transactions involving his own, personally owned, real property, is not statutorily required to process those transactions through his real estate broker; however, the broker may, as a condition of employment, impose such a requirement and, in any event, could, depending upon all factual circumstances, be held legally responsible for his salesman's conduct in connection with the latter's rentals of his own property.
Real estate brokers, licensed as individual brokers, but operating under the control of and being responsible to, the designated broker of a licensed corporation, should be licensed as associate brokers rather than individual brokers.
The director of licenses may issue a temporary salesman's permit to an applicant for a real estate salesman's license who has never before had a temporary permit but has previously failed an examination for a license.
(1) Real estate which has been platted into lots and thereafter subdivided into smaller units which are in separate ownership (except for one unit owned by all the tenants in common) may be assessed by the county assessor against the unit owners separately both as to their individual units and as to their undivided interest in the unit owned in common. (2) Compliance with chapter 56.16 RCW pertaining to plats is required in subdividing lots into smaller units.
RCW 18.85.310 1953 Supp. applies to licensed real estate brokers and does not include closing companies or individuals, such as title insurance companies, banks, trust companies, attorneys or other qualified agencies. Copies of papers, including closing statement, must be given to the parties signing same and also kept by broker even though funds are not handled by broker.
Deeds executed pursuant to court order in a partition suit by two persons who own land in undivided interests are transactions subject to the real estate excise tax.