Federal Fair Housing and ADA 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 acts, 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 protective buyers and tenants towards 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
