3 - Agency Practical Application Flashcards
Federal Fair Housing
No discrimination against the 7.
Sex, Race, Gender, Familial Status, Handicap, Religion, Country of Origin.
Exemptions to Federal Fair Housing
Can’t use a RA
No discriminatory ads
Don’t own more than 3 places.
Americans with Disabilities Act
ADA
Commercial RE must be accessible for handicap.
Lead-Based Paint Act.
- Disclose any known paint
- Give buyers reports of it.
- Give buyers approved pamphlet.
THEY DO NOT HAVE TO REMOVE IT.
Anti-Trust Laws
No price fixing.
Metes and Bounds
Oldest form of Legal descriptions for RE.
Walking the perimeter. Distances and Boundaries.
Must mention: State and County
Rectangular Survey / Gov. Survey
Break-Up through perfect squares.
Must mention: State and County
The Recorded Plat Desc. / Short Form
Short Description
Do-Not-Call Registry
You can call only if they have called the firm within the last 3 months
CAN-SPAM Act
MUST HAVE: OPT-OUT honoured within 10 days.
Against/for any UNSOLICITED email messages that advertise the brokerage firm’s benefits.
Civil Rights Act of 1866
Prohibits discrimination based on race in ALL RE transactions.
The only party that can release a seller from a listing agreement is the:
Listing Broker
A listing agreement, absent any written authorization, may give the agent implied authority to:
Collect earnest money on the seller’s behalf and deposit such funds in a trust account.
What does “the law of agency is common-law doctrine” mean?
It is part of a body of laws established by tradition and court decisions.
Only way for a spouse to sign for their spouse.
Must be ATTORNEY-IN-FACT under DULY EXECUTED POWER OF ATTORNEY.
