Chapter 7- Federal And State Laws Pertaining To Real Estate Flashcards
The 1866 civil rights act prohibits discrimination on the basis of ___
Race
An owner that does not use the service of a broker and does not discriminate in advertising is ____ from the Civil Rights Act of 1968
Exempt
Lenders that refuse to make loans in certain geographic areas based on social or economic considerations are practicing
Redlining
According to the Americans With Disabilities Act, owners are required to make modifications to properties to comply with the act whenever the modifications are ___ ____
Economically feasible
A lease payment that increases based on a portion of the income received by a tenant is called a ____ lease
Percentage
If the tenant is required to pay all or a portion of the operating expenses of the property in addition to the normal rent, the agreement is a ____ lease
Net
A landlord that maintains advance rent and security deposits in a ______ _____ ____ is not required to pay interest on the funds being held
Non-interest bearing account
The Party that receives rights as the result of an assignment is called the ____
Assignee
When a property is sublet, it creates what is called a ____ lease
Sandwich
A landlord that intends to make a damage claim against a security deposit must notify a tenant of any such intention within ___ days
30
If a landlord holds security deposits and advance rents in an interest-bearing account but does not commingle them with other funds, the tenant is entitled to ____ of the interest earned
75%
When all rights under a lease have been transferred to another, the process is called a/an ____
Assignment
From the seller’s standpoint, a salea-leaseback result in ____ financing.
100%
Federal law governing telephone solicitations prohibit calls the residences after ____
9PM
A violation of the Florida telephone solicitation act should result in a fine of up to $____
$10,000