Special Real Property Issues Flashcards
1
Q
What does the Fair Housing Act do?
A
It prohibits discrimination in
- Renting/selling
- Terms
- Refusing financing
2
Q
What is NOT subject to the FHA?
A
- Owner-occupied buildings w/no more than 4 units total (includes owners unit)
- Single family homes sold or rented w/out a broker (BUT subject to advertising rules)
3
Q
What law applies where there is conflict of laws?
A
Generally apply law of the situs (state where RP is located)
Exceptions:
- document specified applicable law
- Certain issues involving marriage
- Mortgage notes
- Foreclosure-related rights
