CT Real Estate study guide
CT Real Estate · Work through your exam, one topic at a time.
The Connecticut Real Estate Salesperson license is the entry-level credential that permits an individual to engage in real estate brokerage in Connecticut while affiliated with and supervised by a licensed Connecticut broker. It is the credential sought by people entering residential and commercial sales, leasing, and property marketing, and it is issued and regulated by the Connecticut Department of Consumer Protection (DCP), the state agency responsible for real estate licensing, licensee conduct, and consumer complaints. The CT Real Estate study guide has 6 sections and about 2,113 words.
01Agency, Fiduciary Duties, and Brokerage Relationships
Connecticut recognizes client-level representation of buyers, sellers, landlords, and tenants, plus customer-level service to consumers who are not represented. Agency arises from a written agreement - buyer and tenant representation agreements must be in writing to be enforceable - not from paying commission, from being shown a house, or from a friendly phone call.
350 words, about 2 min02Contracts and Contract Law
The elements are offer, acceptance (mirroring the offer), consideration, capacity, and legality. Counteroffers kill the original offer.
354 words, about 2 min03Real Property Ownership, Interests, and Encumbrances
Freehold estates run from fee simple absolute (the broadest bundle) down to a life estate, which ends at death or a stated event and is measured by a life. Leaseholds are personal property interests.
359 words, about 2 min04Financing, Valuation, and Appraisal
Candidates should be able to compute loan-to-value, down payment, and monthly PITI, and to explain amortization (early payments are interest-heavy). Conventional loans above 80% LTV usually carry borrower-paid private mortgage insurance, which the borrower may request be cancelled at 80% of original value based on the amortization schedule and which terminates automatically at 78%; FHA loans carry mortgage insurance premiums with different cancellation rules, and VA loans use a funding fee instead of PMI.
349 words, about 2 min05Transfer of Title, Closing, and Settlement
A valid deed names grantor and grantee, contains words of conveyance, a sufficient legal description, consideration (recital), the grantor's signature, and an acknowledgment for recording; it must be delivered and accepted. A general warranty deed contains the broadest covenants; a special warranty deed limits them to the grantor's own acts; a quitclaim deed conveys whatever interest the grantor has with no covenants.
345 words, about 2 min06Connecticut License Law, Practice, and Disclosures
The Connecticut Real Estate Commission, within the Department of Consumer Protection, licenses salespersons and brokers and enforces statutes and regulations. A salesperson must be at least 18, complete the required pre-licensing course, pass the examination, and be sponsored by a licensed broker; a broker applicant must also document experience and complete advanced coursework.
356 words, about 2 min