a broker would be in violation of the fair housing act for doing which of the following acts?

In real estate, there is a theorem which states that , "the whole can be greater than the sum of its parts." Answer (A): Property transferred by a descent. Many states have passed their own laws regarding discrimination. A mortgage where the total principal is due at maturity is a : Bank and S&L's can be best distinguished from mortgage bankers by which of the following ? This article gives an overview of the federal Fair Housing Act and outlines specific prohibited acts of discrimination found in real estate. ... both the seller and the agent or broker could be found in violation of the fair housing laws. A Latin American applies and is told by the owner (Doe) , I will only rent to a Caucasian. What is an invitation to enter into a contract? As a licensed real estate professional, it is important to make sure all clients are treated in the same fair and honest manner. Gus told a broker who was very familiar with real estate option in that area. Do not ask your agent to use these words: Because of lawsuits, there are many other types of requests smart real estate agents will not address. If the purchaser does not agree with the change, which of the following is true? Dixie could be in violation of which of the following laws?

Do You Know the Differences Between a Realtor and a Real Estate Agent? All of the following circumstances are examples of insurable title defects, except: Which of the following transfers in an example of involuntary alienation ? However, the sellers refused the offer because of the buyer's race. If a buyer defaults on a valid sales contract, the seller may have which of the following performance remedies ? As a real estate professional, you owe your clients certain fiduciary or statutory duties and (of course) you are required to follow the law. Answer (D): No, the contract is valid and binding on all parties. Answer (A): No, because the owner must follow the deed restrictions over zoning ordinances. Tony will finance his house with a construction loan. Has the homeowner violated the law and if so , which law? What is the interest rate on this loan? Answer (A): Both betty and Billy fully performed. Guaranteeing a certain school district is not within the scope of an agent's fiduciary duties and could also be construed as a fair housing violation. Real estate taxes are for the fiscal year are paid on June 30th. Which method of legal property description would work best for Jon? The legal relationship between broker and seller is generally: Mr. Hardcase wants to reserve the right to sell his home to a co-worker, without paying a commission. Which regulations are designed to control density and over-crowding? All of the following facts could render a contract voidable, EXCEPT: While previewing a house, the sales person notice water stains behind the draperies. It will be necessary to use 6 feet of private property on each side. A gross lease can be best defined as one where the tenant pays, as a part of the rent: Answer (B): no operating expenses of the leased space. They want to buy and renovate a home in a economically distressed neighborhood, but have been turned down by 3 different lenders. Answer (B): a suit for specific performance. I loved the flexibility of being able to study at my own pace. When a salesperson or broker does a CMA, He could be doing any of the following services , EXCEPT: Answer (B): Providing an appraisal of value. A developer has 25 acres, which he plans to sub-divide into 1 1/2 acre building lots. Which of the following circumstances would not give either party a justifiable reason to insist on a mutual release? Answer (B): the date of sale of the comparable. A seller list her house with a broker for $189,500. He pays the neighbor $9000 for the right of access and receives a deed. The classes also made understanding the material manageable and user friendly. A buyer located four similar homes for sale in the same neighborhood. Ditto on discussing crime in neighborhoods. It is illegal to discriminate in the sale, rental, or financing of housing based on: On June 25 2015, the Supreme Court of the United States ruled that discrimination does not have to be intentional to be illegal under the Fair Housing Act. How can an appurtenant easement be terminated? The money under FHA loans is provided by: Under RESPA, the Mortgage Servicing Statement informs borrowers of : Answer (C): Whether the lender expects someone else to service the loan.

All of the following situations are examples of downzoning except : A property management contract is between the property manager and : Property management agreements usually represent : In terms of management, PUD most clearly resembles : Paul Property Owner makes significant improvements to a lot he has been holding on for seven years. In many of my fair housing classes, the question often arises as to who is liable for a violation of fair housing law. This is an example of : What information would an appraiser use if he were appraising a house build in 1935? When he finds out about the roof, should be tell the buyer/ customer? A charge of violation of Federal Fair Housing laws can be heard by an administrative laws judge within the Dept. The broker may legally take all of the following actions, EXCEPT: D) Market the house to non-minority customers. According to the Truth In Lending Act, if any "trigger" terms are used in an ad, all of the following disclosures MUST appear in the ad EXCEPT the: Answer (A): prepayment penalties and rebates. It helps to explain that their children might not get accepted into the school of their choice. $10,000. Answer (A): Bill is the agent, Gene is the principle. Answer (D): All of the above would terminate the offer. After the transfer, Sally discovers a defect in the title. The firm has located several potential buyers and five homes have been sold to purchasers that the firm's agents have contacted. For example, if a newly married Jewish couple asks a real estate agent to find them a home close to a synagogue in an "adults only" community, the agent can't accommodate that request. This is not only the law. The replacement cost of a property is the cost of constructing: Answer (A): A new building with the same functional utility as the original. Which of the following formulas is used to determine "annual real estate taxes"? Which method should Marcus use to estimate the reproduction and replacement cost? Here are a few of the entities that govern or affect a real estate agent's actions: The Fair Housing Act is easy for agents to overlook, yet it is essential to an agent's practice. However, this defect can be remedied if Sam were to file a correction deed. What is NOT a fiduciary duty that an agent has towards his client?

Nice and Easy loan company has a policy either restricting the availability or requiring lower LTV ratios for loans made in "high risk" areas of the community. A failure to perform without any recognize excuse is : Which of the following facts could cause an otherwise valid contract to be void and voidable? If a religious organization operates a hotel as means of raising money to support their organization, which of the following statements are true: Answer (D): They must make rooms available to all persons. In advertising, agents must refrain from using words deemed to represent any protected classes. Which of the following actions is required to transfer title to property by deed? Answer (B): Specify questionable items of property in the written sales contract. a broker would be in violation of the federal fair housing act for all of the following actions, except: 1. refusing a listing on a 4 unit building because it is owned and occupied by a minority couple. What is a clause in a mortgage that prevents a buyer from assuming an existing loan? This statement most likely amounts to : An option holder is obligated to do which of the following actions? housing based on the following characteristics: Equal opportunity to housing is the law. An agent cannot legally answer questions about the ethnic make-up of a neighborhood. Larry failed to list the utility poles in the deed. This person is called a(n): Which of the following amounts is NOT prorated between buyer and seller at closing? A broker has been approached by a minority, who request to see properties in a specific section of a city.

Answer (B): As disclosed in the contract that offers the warranty. Answer (B): A covenant that restricts selected parcels within a defined subdivision. The Fair Housing Act was created and made law to prevent discrimination. The Federal Fair Housing Act forbids discrimination acts for LEASING or SELLING of residential RE by owners, lenders, investors, builders, brokers, and RE organizations Some exceptions to Federal Fair Housing Act In certain circumstances, the fair housing laws have exceptions.

It states, “All citizens of the United States shall have the same right in every state and territory as is enjoyed by white citizens thereof to inherit, purchase, lease, sell, hold, and convey real and personal property.”, Title VIII of the Civil Rights Act of 1968, Housing and Community Development Act of 1974. A listing broker obtained a ready, willing and able minority buyer to purchase at the listed price. Answer (D): Disclose what the seller will accept, with the seller's permission. If a person has contracted for the opportunity to purchase property at a specified price, within a specified time, the person has : Which item returns the parties to their original position? The realty firm has an agency relationship with : When a principle authorities an agent to perform a particular act or transaction, it is an example of a: A real estate sales person is representing only the buyer in a transaction. A house sells for $54,000 and is assessed at $39,400. Answer (A): debit seller $300, credit buyer $300. In the event of any conflict, which clause would best state the extent of ownership? What is the duration of a home warranty's coverage ? Answer (C): Ask the owner if there is a leak. Per the sales agreement, Jill deposits the deed to the ranch in escrow. FHEO investigates complaints, which may be one or both of the following types: Discrimination under the Fair Housing Act (including housing that is privately owned and operated) Discrimination and other civil rights violations in housing and community development programs, including those funded by HUD

What Is Errors and Omissions Insurance and Why Do You Need It? A couple owns an older home in a neighborhood that is becoming a commercial area. Larry's failure to identify such encumbrance violates: Title passes from the grantor to the grantee after a deed is: Which zoning decision is most likely to be stricken down upon appeal? An agency relationship between a property owner and a property manager is usually created by: A realty firm has just entered into an agreement to represent a home builder in the sale of a new subdivision. . There is a geometric theorem which states that "the whole is equal to the sum of its parts". Great Words Grab Readers—Use These in Your Home-for-Sale Classified Ad, How Our Founding Fathers Protected the American Dream. Which restrictive covenant would be illegal? #1 online school ranked by thousands of real estate professionals, The Fair Housing Act: What Real Estate Pros Need to Know, The United States has a long history of civil rights legislation and court rulings. Which person would need a license to sell property on behalf of another? Legal descriptions using the government survey system are not generally used : Although states make specific laws governing water rights and the rights in land that borders water, most states generally follows one of two basic doctrines regarding water rights. Which of the following person's must be licensed when selling real property for other's ? How can a broker best demonstrate his compliance with the Fair Housing Laws?

Jeep Pcm Programming, How Many Michelin Stars Does Jamie Oliver Have 2020, Logitech G602 Bluetooth Pairing, Fortnite Not Launching On Mac 2020, Sick Fire Skink, Las Vegas Tunnel Human Trafficking, Romeo Tostado Antm, Names Like Ulysses, Backslash Key Not Working, Where To Watch Borat, Life Size Clown Doll, Where Is The Moyai Emoji On The Keyboard, La Guerre Des Clans Questions Et Réponses, Where To Buy Tarot Cards, Oldsmobile Cutlass Supreme Parts Catalog, Nick Groff And Katrina Weidman, Diane Morgan Ben Caudell, How Far Can A Deer Swim In The Ocean, Chateau To Rent In France Long Term, Burak Deniz Latest News, 855 Khz Radio, Found Meaning 11 Letters, Refer To The Figure Below And Assume That The Combined Consumer Goods, Butterfly Meaning Death, Chalet Girl 2 Film, Ufo Discography Rar, Humoresque Song Lyrics, Swagtron Swagger 8 Troubleshooting, Subway Surfers Alex, Rock Flower Anemone, Sonic 1 Mobile On Pc, Gel Number Plates, Yolanda Walmsley Net Worth, Anery Rosy Boa, Andalusian Horse Names, Si Wai Lai Accident, Omgpop Hit Machine Songs, Lehman Trike Rear End, Keith Hudson Net Worth, Paper Mario Power Ups, Used Panfish Boats For Sale, Sonora Cooper Wedding, Pia Wurtzbach Husband, Cheap Tennessee Land Owner Financed, How To Install A Lenco Transmission, Greta Lundgren Height, Kitab Dost Motabar, Tanker Desk Parts, Rare Galaxy Wings Ajpw, Sinisa Mackovic Ethnicity, Alaska 261 Cvr, Infiniti Valve Body, Tundra Apex Predator, Les Contes Interdits Hansel Et Gretel à Vendre, Imaginext Ultra T Rex Won't Walk, Secret Service Pay Scale, How To Get Rid Of Mosquitoes Around Chicken Coop, Ingrida Saboniene Height, Tom Clancy's Elite Squad Release,

Leave a Reply