In Iowa, a property management agreement is signed. Which statement is correct?
Correct Answer
C) The agreement must include its effective date
Iowa Administrative Code 193E-15.1 requires the effective date in a property management agreement. Source basis: Iowa Administrative Code 193E-15.1: property management written authorization, required agreement terms, copies, sale/listing authority, trust-account deposits, termination notices, owner funds, and final accounting; checked 2026-04-30.
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Related Topics & Key Terms
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Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
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