Federal Laws - Need To Know Flashcards
What is blockbusting?
Creating rumors of integration in a neighborhood to drive down prices.
Who is exempt from fair housing laws?
Owner of three or fewer properties not using a brokerage and not discriminating in their own advertising.
On Fair Housing issues involving the handicapped, what is the difference between the issues of “accessible” and “adapted”?
Accesible means you can get to and in; adapted is environmental controls lowered, door widened, etc.
What law requires a lender to reveal APR to the borrower?
Truth in Lending
An agent represents the seller of a business which has a significant inventory. What law should the agent suggest the the buyer be concerned with?
Bulk Transfer under UCC
What is radon?
A radioactive, colorless, odorless, tasteless noble gas, occurring naturally in our environment as the decay of radium.
What is Brownfield?
The government classification for an environmentally hazardous site.
What is a sure sign of ground contamination?
Discolored soil
What is the proper way to remove asbestos?
Encapsulate in sealed bags.
Which law requires a housing provider to not discriminate against the handicapped?
Fair Housing
*ADA covers employers and public services
The difference between the 1968 Fair Housing Act and 1988 Amendment is?
The ‘88 amendment added familial status and handicap as protected classes
Is drug addiction a handicap under the Fair Housing Act?
Drug addiction is a protected class when the person has completed a rehabilitation program
Inappropriate discussions about commissions within the real estate industry could violate which law?
Anti-trust laws
