Catégories : Tous - license - housing - mobile - discrimination

par Eloy Rodriguez Il y a 10 années

260

Practice

The text primarily discusses various legal aspects and regulations related to housing, real estate, and licensing requirements. It touches upon historical amendments and laws that aim to prevent discrimination in housing, such as the 13th Amendment, the Rumford Act, and the Federal Fair Housing Act.

Practice

Practice

Mandated Disclosures
miscellaneous

Flood Hazard Report

frequent flooding

Less then 10years

Department of Forestry

Rural lands declared state responsibility

Quarterly Reports by Broker

When assisting with leases or sales of federal lands

Promotional Note

Liens on Parcels of subdivision

Real Property Securities

Regulates less then 3 year old subdivision

Death Disclosure

less then three years

Earthquake Safety Guide

Commercial Property Owner's Guide

Masonry floor and roof before 1975

Homeowner's Guide; for homes built 1960

Seismic Hazard Zone
Earthquake Fault Zone

Seller and broker must disclose to buyer

Natural Hazard Disclosure Statement

Wild-land Area

e.g. forest fires

Fire Hazard

Potential Flooding

e.g. Dam Break

Special Flood Zone

FEMA

Environmental Hazards

Give the seller the Environmental Hazard Pamphlet

Radon

Asbestos

Lead

EPA pamphlet 'Protect Your Family From Lead

for Target home pre 1978

Easton V. Strassburger; led to the TDS

Rights of buyer

If TDS is delivered after the offer

By mail; Seller has 5 days after delivery to terminate

In person; Seller has 3 days to terminate offer

Broker who procured the offer

must deliver TDS to buyer ASAP

If seller does not give buyer TDS

Agent to notify buyer of TDS right

Listing and selling agent must inspect

Fill out during listing

13th amendment 1865
California State Law

Holden Act

Prohibits discrimination by lenders [redlining]

Unruh Civil Act

prohibits discrimination in Business

Rumford Act

Liable for civil damages and $1000 punitive

or provide next available unit

Owner to complete rental of Sale

Jones vs. Mayer 1968

Federal Equal Credit opportunity

Federal Title VIII 1968

Anti Discrimination in housing

Federal Open Housing Law

Enforced US Attorney General when conspiracy

Federal Fair Housing Act

Complaint filed with HUD for up to one year

Ad Retireee's Dream Home violates HUD guidelines

Anti discrimination

Business Opportunities
Bulk Sales

Buyer to file Notice of intent to Sell in Bulk

and advertise

Prevent fraud against Creditors

When Selling all inventory to on Buyer

Uniform Commercial Code

Release or Termination Statement

Release from Creditors

Financing Statement

Filed with Secretary of State

Gives public notice to creditors of Trade Fixtures

Good will and Inventory

Not subject to sales tax

Fixtures and Furniture

Subject to Sales Tax

Buyer to request Certificate of Clearance from State Board of Equalization
Bill of Sale to transfer
Personal Property
Mobile Homes
48 hours to remove ad after sale
No Down is illegal
Once registered OK to sell new
Used OK to sell
licensee cannot sell new mobile homes
Ethics
Special Rules

Broker servicing as loan

may retain funds in Trust Account

at most 25 days without lender authorization

if lender authorizes early funding

broker must give lender recommendation to record

10 days

negotiated loans

Broker to record Trust Deed

Before escrow releases funds

Advanced Fees

Must not contain a selling guarantee

give full accounting to seller

DRE approval prior

No DRE approval needed

Appraisal

Credit Report

Violations

Commissioner must serve licensee with a Accusation

Kickbacks

Secret Profits

Commingling

Undisclosed Dual Agency

False Promise

Misrepresentation

Most are innocent, negligent or fraudulent

$10,000

six month jail

loss of license

net Listings - Options - Guaranteed Sales

OK with disclosures

Any improper act

illegal

NAR members

obey Realtor' Code of Ethics

Advertisement
Puffing

making a claim that reasonable person relies upon to buy

Misleading map
False implication

800-for-loans

Deceptive Ad

Move right-in

Blind Advertisement

Must include Broker's name

Must disclose he is an agent

Must disclose that agent represents seller

Gifts

to everyone

must announce attendance is necessary

Trust Deeds

Secured Trust Deeds

Disclose the extent to which it is secured

Must specify interest and discount from actual balance

License
licensee has 2 years grace for expired

If after; test must be retaken

Temporary 150 days

Release Child support or Suspended

Now 3 courses

One other College level course

Real Estate Practice

Real Estate Principles

Subsequent Renewals
1st time renewal

New course in Risk Management

15 hours customer service

18 hours consumer protection

subject: Ethics, Agency, Trust Fund Handling, Fair Housing

45 hours

Every 4 years
Brokerage
Trust Account

Any employee authorized by may make withdrawals

unlicensed must bond

Unless buyer

I writing direct a check not be cashed

Until accepted

Deposit within 3 Business Day

If business takes place before 3 days no account necessary

Trust Ledger
Termination

License must be returned

3 Business days

Can pay finder fee to non-licensee
All must have Workers Compensation
Agents need employment agreement

Keep 3 years

Commissions
Can be shared with an unlicensed buyer
29 Codes
Civil Code

Real Estate law non-licensee

Business and Professions Code

Department of Real Estates

Real Estate Commissioner

California Code of Regulations

Criminal Prosecution - local DA

Promulgate rules for licensees

Buying or Selling 8 or more loans in a year

Answering detailed real estate financing questions

Property Management

handing out sales brochures

Assisting Buyer or Seller

investigate non-licensed persons, can discipline licensed persons

Statutes
State Constitution

Article 4

Creating Bills

Listings
Exclusive Authorization and Right to Locate Property (Buyer Listing)
Exclusive Right-to-Sell Listing
Exclusive Agency Listing

Seller reserves right to sell

Open listing

Many Brokers