DRE Licensing & Oversight — part of Real Estate Principles. Study the key terms below, then mark this lesson complete to advance your progress.
DRE (Dept. of Real Estate): California state agency that licenses and regulates real estate agents, brokers, and subdivisions.
Disclosure of Agency: Written form agents must provide disclosing who they represent (AD form in California).
Purchase Agreement (RPA): The primary contract in California used to buy/sell real property — sets price, terms, contingencies.
Trust Deed (Deed of Trust): California security instrument — borrower gives deed to trustee to hold as collateral for lender.
Title: Legal evidence of ownership — the right to possess and use the property.
Deed: Written instrument that transfers ownership of real property from grantor to grantee.