Chapter 20 Laws and Practices Flashcards
Fair Housing Laws:
Anti-discrimination legislation designed to ensure equal opportunity in housing to all home buyers.
Discrimination:
A failure to provide equal opportunity for persons to acquire or finance housing based on race, color, religion, national origin, sex, handicapped status, marital status, or family status.
Misrepresentation:
A statement or act, or failure to make a statement or act, that misleads a party in a transaction. May be intentional or unintentional. May warrant legal recourse or license revocation.
Unequal Services:
Services that differ in nature or quality from those normally rendered, with the alteration based on race, color, sex, national origin, or religion.
Steering:
The prohibited practice of channeling prospective buyers and tenants toward or away from a particular area.
Blockbusting:
Inducing property owners to sell or rent their holdings due to an impending downturn in their property values, often owing to a change in the area’s ethnic or social composition.
Redlining:
The illegal lending practice of restricting loans by geographical area
Jones v. Mayer:
In 1968, the Supreme Court ruled in Jones v. Mayer that all discrimination in selling or renting residential property based on race is prohibited under the provisions of the Civil Rights Act of 1866.
Fair Financing Laws:
Anti-discrimination legislation designed to ensure that all parties have equal access to mortgage financing.
Disclosure:
In compliance with applicable laws and to promote respect for the real estate profession, licensees should be careful to disclose
that the agent is going to receive compensation from more than one party in a transaction
property defects if they are reasonably apparent; however there is no duty to disclose a defect which it would require technical expertise to discover
any interest the agent has in a listed property if the agent is representing a party concerning the property
any profits made on a client’s money
the agent’s identity in advertisements
the fair housing amendments act of 1988
(FHAA) was signed into law on September 13, 1988, and became effective on March 12, 1989. The Act amends Title VIII of the Civil Rights Act of 1968, which prohibits discrimination on the basis of race, color, religion, sex or national origin in housing sales, rentals or financing.
Civil Rights Act of 1968
Title VIII (Fair Housing Act). Title VIII of the Civil Rights Act of 1968, known today as the Fair Housing Act, prohibits discrimination in housing based on race, color, religion, or national origin. The Office of Fair Housing and Equal Opportunity (OFHEO) administers and enforces Title VIII under the supervision of the Department of Housing and Urban Development (HUD).
