Unit 7: Federal & State Laws Pertaining to Real Estate

Question 1

Fair Housing Act as Amended

Answer 1

The Fair Housing Act was Amended in 1988 by Congress to include two additional protected classes thus making the following 7 Classes Protected.

Race
Color
Religion
National Origin
Sex
Familial Status
Handicap Status

Question 2

Fair Housing Poster

Answer 2

The 1988 Amendment also created the equal housing opportunity poster. The poster features the equal housing logo and a statement pledging adherence to the Fair HOuse Act. The poster must be displayed at the real estate office and other businesses involved in the housing industry. In the event a discrimination complaint is made against a broker, HUD considers failure to prominently display the equal housing opportunity poster in the broker’s place of business as evidence e of discrimination.

Question 3

Special Exemptions under Fair Housing

Answer 3

complete

Question 4

Interstate Land Sales Disclosure Act

Answer 4

complete

Question 5

Developer requirements based upon the number of lots

Answer 5

complete

Question 6

Prohibited Activities under Fair Housing

Answer 6

Complete

Question 7

Under ISLA what is a property report?

Answer 7

complete

Question 8

Landlord and Tenant Act requirements

Answer 8

complete

Question 9

3 options for landlord’s holding security deposits

Answer 9

complete

Question 10

Broker as Property Manager

Answer 10

complete

Question 11

Brokers must handle security deposits and advanced rent as follows

Answer 11

complete

Question 12

Vacating Premises

Answer 12

complete

Question 13

What are the time restrictions related to security deposits?

Answer 13

complete