Chapter 7 - Federal and State Laws Pertaining to Real Estate (4%) Flashcards Preview

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1
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

***Civil Rights Act of 1866

A

*** Prohibits discrimination on the basis of RACE ONLY

*** Relates to right to inherit, purchase, lease, sell, hold and convey real and personal property

*** Applies to everyone, all the time with no exceptions

2
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

***Civil Rights Act of 1968 (Federal Fair Housing Act)

A

*** Prohibits discrimination in sales, leasing, advertising, financing or brokerage services based on:

*** Race

*** Color

*** Religion

*** Sex

*** National Origin

*** Housing covered by the act include

*** Single family homes

*** Not privately owned

*** Privately owned if broker is involved

*** Privately owned if owner has 4 or more units

*** Privately owned if owner has sold 2 or more in last 2 years not owner occupied

*** Multifamily

*** 5 or more units

*** 4 or less unless owner occupies one

3
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

***/**Civil Rights Act of 1968 (Federal Fair Housing Act)

A

***/** Specific violations:

***/** BLOCKBUSTING - inducing owners to sell based on the entry of members of a protected class moving into neighborhood

***/** STEERING (CHANNELING) – people into or away from a neighborhood or advertising using catchwords suggesting protected classes.

4
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.C: FEDERAL LAWS REGARDING MORTGAGE LENDING:::

***/**Civil Rights Act of 1968 (Federal Fair Housing Act)

A

***/** REDLINING - denying loans or insurance in certain neighborhoods based on the age of the property, income level of residents or racial composition

5
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

***1988 Fair Housing Amendment (EXPANSION OF THE CIVIL RIGHTS ACT OF 1968)

A

*** Includes

*** People with physical or mental impairment that limit life activities

*** People with drug addictions

*** Persons with AIDS and recovering alcoholics

*** Persons with acquired immune deficiency syndrome (AIDS)

*** Women who are pregnant

*** People with children under age 18

***Familial Status Exemptions

*** Housing occupied by persons 62 years of age and older

*** Housing with 80% of the units are occupied by persons over the age of 55

*** Housing for elderly or poor that are financed or subsidized by state or federal government agencies

6
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

Equal Housing Opportunity

A

All brokerage offices must display HUD’s Equal Housing Opportunity poster

7
Q

Section 7.1: FEDERAL FAIR HOUSING LAWS

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

**Americans with Disabilities Act

A

 Federal Law designed to remove barriers for disabled individuals

 Includes employment and accessibility

 Multifamily Dwelling Units must be constructed so common use portions are readily usable by all persons with disabilities

** For existing properties that do not comply with ADA, Modifications when readily achievable and economically feasible, which means easy to accomplish w/o much difficulty or expense.

8
Q

Section 7.2: FLORIDA FAIR HOUSING ACT

:::STATE EXAM CONTENT AREA: VII.A: FEDERAL AND STATE FAIR HOUSING LAWS:::

Florida Fair Housing Act

A

 HUD Exemption for Adult Communities

 Solely occupied by persons 62 and older

 AT LEAST 80% OF THE OCCUPIED UNITS ARE OCCUPIED BY AT LEAST ONE HOUSEHOLD MEMBER WHO IS 55 OR OLDER

 False information will be assessed the following:

 Administrative Fine of $500

 Court fines $10,000 to $50,000

 Stigmatized Properties - The fact that a property was or was suspected to have been the site of any of the following, is NOT A MATERIAL FACT that must be disclosed in real estate transaction.

 AIDS or HIV

 Homicide

 Suicide

 Death

9
Q

Section 7.3: FLORIDA RESIDENTIAL LANDLORD AND TENANT ACT

:::STATE EXAM CONTENT AREA: VII.D.1-3: FLORIDA RESIDENTIAL LANDLORD AND TENANT ACT:::

**Part II - Residential tenancies

A

** Security deposits and advance rents

** Landlord must notify tenant within 30 days how deposit is being held:

** Florida non-interest bearing account

** Florida interest bearing account and pay the tenant either 75% of the earned interest or 5% simple interest

** May use the funds by paying 5% interest and posting a surety bond with the circuit court

*** NOTE: THE LANDLORD CANNOT COMMINGLE the funds with any other funds of the landlord

*** If landlord uses agent, deposits and advance rents must be in escrow account

*Exception to Act – landlords who rent fewer than 5 units not using real estate broker

10
Q

Section 7.3: FLORIDA RESIDENTIAL LANDLORD AND TENANT ACT

:::STATE EXAM CONTENT AREA: VII.D.1-3: FLORIDA RESIDENTIAL LANDLORD AND TENANT ACT:::

**Part II - Residential tenancies

A

**Return of Security Deposit

** Tenant vacates premises

** 15 days to return if no claim on deposit

** 30 days notice if there is a claim on the deposit

 Certified mail

 Tenant must object within 15 days after receipt

 No objection – landlord can deduct claim amount & return balance to tenant within 30 days after notice of claim

11
Q

Section 7.4: OTHER STATE AND FEDERAL LAWS AFFECTING REAL ESTATE

**Telephone Solicitation Laws

A

** Federal list

** May call for-sale-by-owners (FSBO) if buyers are interested in purchasing

** MAY NOT solicit the listing

** Florida – OK to solicit the listing

12
Q

Section 7.4: OTHER STATE AND FEDERAL LAWS AFFECTING REAL ESTATE

:::STATE EXAM CONTENT AREA: VII.B: FEDERAL LAWS REGARDING LAND AND THE ENVIRONMENT:::

State and Federal Environmental Laws

A

Many federal and state laws regulate environmental problems, providing funding for research and development, prohibit certain activities, and require permits for other activities.

Federal Laws include:

 National Environmental Policy Act

 Clean Air Act

 Solid Waste Disposal Act

 Federal Water Pollution control Act

Florida Laws include:

 Beach and Shore Preservation Act

 Drainage and Water Management Act

 Salt Water Fisheries Conservation Act

 Environmental Land and Water Management Act

 Growth Management Act of 1985