Free Delaware Real Estate Salesperson Practice Exam 2025

Landlords in Delaware must retain copies of receipts for cash payments made by tenants for at least two years to comply with record-keeping laws.

The Guaranty Fund in Delaware has a maximum payout limit of $25,000 per transaction to maintain fund solvency.

Only the Delaware Legislature has the legal authority to remove a commissioner from the Real Estate Commission.

The Delaware Real Estate Commission manages and oversees the Real Estate Guaranty Fund for consumer protection purposes.

The Delaware Real Estate Commission is the licensing authority that issues and oversees real estate licenses in the state.

Discriminating against recovering alcoholics is a violation of fair housing laws, as they are protected under the disability category.

Delaware offers three types of real estate licenses: broker, associate broker, and salesperson. No other categories are recognized.

Federal fair housing law protects classes including race, color, religion, sex, disability, familial status, and national origin—but not fashion.

Delaware condominium law requires that unit owners receive at least 30 days’ written notice prior to association meetings.

Delaware sets a three-year statute of limitations for filing breach of contract lawsuits, including those involving real estate transactions.

Applicants for a real estate license in Delaware must be at least 18 years old at the time of application submission.

The Delaware Real Estate Commission is the entity responsible for regulating licensees and enforcing real estate law in the state.

In Delaware, unless a written agreement establishes agency, a consumer working with a licensee is legally considered a customer, not a client.

Delaware law may require tenants to store or manage abandoned personal property for up to 3 months after vacating the premises, depending on lease terms.

Dual agency is permitted in Delaware only with the informed written consent of both the buyer and seller, ensuring transparency and disclosure.

Under Delaware law, the Guaranty Fund may reimburse up to $25,000 per transaction to claimants harmed by a licensee's misconduct.

The Delaware Real Estate Commission may impose disciplinary actions such as fines, license suspension or revocation, and formal reprimands based on the nature of the violation.

The Delaware Guaranty Fund caps reimbursement at $25,000 per transaction, regardless of the number of claimants or severity of loss.

To qualify for nomination to the Delaware Real Estate Commission, candidates must have been residents of the state for at least 5 years prior to appointment.

Under Delaware law, buyers are typically required to secure property insurance within 72 hours of signing the purchase contract to protect the interest of all parties in the transaction.

The Delaware Uniform Common Interest Ownership Act (DUCIOA) requires the seller to provide the resale certificate within 5 days of contract signing, giving the buyer 5 days to cancel upon review.

Delaware landlords who accept rent in cash must provide a written receipt and keep a copy for at least two years to comply with state regulations.

Under the Delaware Residential Landlord-Tenant Code, landlords must give tenants a 5-day written notice to pay overdue rent before initiating eviction proceedings.

The Governor of Delaware appoints all members of the Real Estate Commission to maintain oversight and accountability in the industry.

Licensees pay a one-time $25 fee to fund the Delaware Real Estate Guaranty Fund, which compensates consumers harmed by violations of license law.

Delaware follows a common law property system rather than community property, meaning property ownership depends on title and not marital status.

Delaware is a Title Theory state, meaning the lender holds legal title to the property during the term of the mortgage loan until it is paid in full.

Delaware law generally requires real estate purchase contracts to close within 12 months unless the parties agree to an extension or renegotiate terms.

In Delaware, the agency disclosure form notifies buyers of their right to seek independent representation when entering into a real estate transaction.

All advertising by Delaware licensees must include the legal name and phone number of the brokerage, exactly as registered with the Commission.

If a broker’s license is revoked in Delaware, affiliated salesperson licenses are automatically suspended until the salespersons are reassigned to another active broker.

Delaware adheres to federal Housing for Older Persons Act guidelines, typically allowing senior housing for residents aged 55 or older.

The Delaware Real Estate Commission consists of 9 appointed members responsible for overseeing license law and enforcing professional conduct.

To renew a license in Delaware, real estate professionals must complete 18 hours of continuing education within each licensing cycle to stay updated on regulations and ethics.

Licensees may advertise using personal contact details only if the name and contact information of their employing brokerage is prominently displayed, per Delaware law.

All 9 members of the Delaware Real Estate Commission are appointed by the Governor and include licensed professionals and public members to ensure balanced oversight.

Anyone who assists or negotiates real estate transactions for compensation in Delaware must be licensed by the Delaware Real Estate Commission.

The Delaware Real Estate Commission’s Guaranty Fund protects consumers by compensating financial losses caused by fraudulent or dishonest acts of licensed real estate professionals.

Delaware holds license reciprocity agreements with select states. Licensees must verify which states are included and comply with application requirements.

Earnest money in Delaware must be deposited into a trust account promptly, or within the timeframe agreed upon in the contract, to ensure legal compliance and protect client funds.