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Kimberly Bytheway (Velocity)

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Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

1. Could be commingling and could be conversion. That's the most likely answer if the money was put in their account. Essentially they converted it to their own funds. There was no separation of their funds and the clients funds.
2. I think Bob is correct--one title, vested in the two corporations and two individuals names, but the property itself is going to be a single title.

Hurry up and tell me if I got a hundred. I'm really vain about exams!

Aug 03, 2018 02:34 PM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

agents can't hold funds in escrow... broker...

one title...

Aug 03, 2018 02:47 PM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 1.  Commingling is the term used by the Florida Real Estate Commission.  

 2.  There is only ONE title to the property. 

Aug 03, 2018 03:40 PM
Rainmaker
4,572,183
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Is your exam open book? Have you contacted your instructor?

Aug 03, 2018 02:32 PM
Ambassador
2,061,803
Alan May
Jameson Sotheby's International Realty - Evanston, IL
Home is where the hearth is.

I would have answered "comingling", too.  Don't worry too much about missing one or two questions... as I recall you can get a bunch wrong and still pass.

Aug 03, 2018 08:12 PM
Rainmaker
900,128
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

There ARE errors in those books; make the editors aware.

Aug 03, 2018 07:06 PM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

1) THEFT

2) ONE

Aug 03, 2018 05:24 PM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

You have some good answers.

Aug 03, 2018 03:14 PM
Rainmaker
5,216,398
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Candice A. Donofrio has you covered. Conversion and single title. Give an assist to Bob "Real Man" Timm!

Aug 03, 2018 02:51 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

You have your answers. A

Aug 03, 2018 02:31 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Normally commingling refers to the broker not the agent.

Aug 03, 2018 02:28 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

1. this one smells like FRAUD/EMBEZZLEMENT
That money belongs to your broker. Broker deposits in escrow. Or you hand dollars to title company who holds it in escrow or to an attorney who does the same.

Mishandling client money is the shortest path to jail. Well, maybe not the shortest or fastest but certain.

Aug 03, 2018 02:19 PM
Rainer
4,564
Samer Theodory
Preferred Real Estate - Newport Beach, CA
Real Estate! Your best investment.

Might be multiple right answers.  Example A and C correct

Aug 03, 2018 02:14 PM
Rainmaker
2,390,620
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

#1) seems correct BUT I'd like to see all the possible answers.

#2) Only 1 title.

Aug 03, 2018 02:02 PM
Rainmaker
1,543,823
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

1. Never ever ever do that one
2. One

Aug 03, 2018 09:01 PM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

I agree co mingling of funds - one title. Looks like you have great replies. 

Aug 03, 2018 08:12 PM
Ambassador
3,854,909
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

1- Stealing

2-Only one

Aug 03, 2018 07:45 PM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

One title for those 4 owners.

Aug 03, 2018 06:07 PM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like they designed some questions to make sure that you are thinking.

All the best to you on the real exam!

 

Aug 03, 2018 04:52 PM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I think they are guilty for acting like a brokerage and not turning in the funds to their Broker

Aug 03, 2018 04:40 PM
Rainmaker
989,652
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Looks like you've been "schooled" already ;)

Aug 03, 2018 04:11 PM
Rainmaker
2,220,423
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Candice A. Donofrio has you covered.

Aug 04, 2018 10:51 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

What were the other answers?

Aug 04, 2018 04:47 AM
Rainer
20,445
Romylio "Romeo" Cordoba - NSB Realtor
Adams Cameron and Co. Realtors - New Smyrna Beach, FL
Daytona Beach Real Estate Agent

Strange, pretty sure you got the first one correct. Conversion would be if you used the funds. The second question's answer might be two since two are corporations but need more information.

Aug 04, 2018 12:16 AM
Ambassador
5,230,079
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

We also use commingling for BROKERS - they could have been looking for theft with a 'LICENSEE.'

One Title, regardless of ownership.

Aug 03, 2018 10:05 PM
Rainmaker
1,045,440
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

Without knowing the other potential answers its hard to say and sometimes the tests will look for not just an answer but the MOST accurate answer based on the wording of the questions. Kimberly Bytheway 

Aug 09, 2018 08:32 AM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I found many of the answers COULD be correct, but one was the BEST answer.

Aug 08, 2018 07:29 AM
Ambassador
2,178,603
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

It depends on the other choices.  It's all about the BEST answer.

Aug 07, 2018 05:54 PM
Rainmaker
1,311,397
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Not knowing what the other choices were on a multiple choice test makes it impossible to provide any help, Kimberly Bytheway 

Aug 05, 2018 02:21 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

What about your instructor? Did you ask him/her? 

Just the question. No offense. 

Aug 04, 2018 07:03 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Putting money in your personal account is conversion and the second question is there is only one title that is shared by the entities. 

Aug 04, 2018 06:41 PM
Rainer
216,904
Sharon Altier
Coldwell Banker Realty - Elmhurst, IL
Luxury Property Specialist, CSC, SFR

1.  If a managing broker places the $$ in the their account, it would be comingling.  If a licensee does it, it would be theft.  An agnet can't put earnest money or any other transaction money (with exception of comission from their broker) in their own account.

2.  answer provided within group already

 

Aug 04, 2018 02:04 PM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Good questions!  Comingling of funds is what we'd call it in California... but like has been said by others only a Broker can deposit into a trust account.  Pro tip: in the real world, never take a check from a client and if you absolutely have to, don't deposit it.  Have title deliver it to the destination (escrow, lawyer, title, ...)

 

2) I agree, one title to the property split 4 ways.  Confusing question for sure!

Aug 04, 2018 09:52 AM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Depends on what the other options are.

1. Fraud

2. Only 1 title. 

Aug 04, 2018 09:34 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Barbara has answered

Aug 04, 2018 07:20 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Olga Simoncelli nailed this one!

Aug 04, 2018 06:50 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I think you should speak to your instructor.

Aug 04, 2018 06:38 AM
Rainmaker
1,196,798
Doug Dawes
Keller Williams Evolution - 447 Boston Street, Suite #5, Topsfield, MA - Topsfield, MA
Your Personal Realtor®

Commingling in MA

1 Title

Aug 04, 2018 06:23 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If the testor is using their own opinions as answers who knows what that is?

Aug 04, 2018 05:57 AM
Rainmaker
1,197,152
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

Pass the real test, get your license, then learn the business.  

Aug 04, 2018 05:01 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

1. There is a different law for licensee and broker. A broker can not comingle funds but a licensee who is not "the managing broker" must place in brokers escrow account. In real life an agent hands to their broker who does it. Licensees would not have access to teh escrow account.

 

2. There is only 1 title or deed in a transfer whether there is 1, 4 or 100 buyers. 

Aug 04, 2018 04:49 AM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

As I don't know how your state qualifies certain activities it's hard for me to say why your #1 was not marked correct.

As for #2, three is only one title regarless of the number of names on it. Beyond that, it's a legal question.

Aug 04, 2018 04:47 AM
Rainmaker
763,883
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Give the answer that they want or get it wrong.

Aug 03, 2018 11:12 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Kimberly Bytheway - I am sure others are helping you here....

Aug 03, 2018 10:46 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Every time I do some ce credits  I find questions about some of the ansswer

Aug 03, 2018 08:46 PM