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14 Cards in this Set
- Front
- Back
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Stigmatized Property |
A seller is not obligated to disclose information such as a death or suicide occurred on the property. |
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What does Real Property Law state about electrical services? |
Article 8 states anyone offering to sell real property that does not have electrical service must disclose this fact to buyer. |
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What is a utility surcharge? |
Anyone offering to sell real property that has a gas or electric surcharge assessed, needs to provide a written notice to the prospective buyer that the property is subject to an electric and/or gas utility surcharge. |
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What is an uncapped well disclosure? |
An offer on a property which has an uncapped natural gas well, will inform any buyer of the existence of these wells prior to entering into a contract for the sale. |
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What is a agricultural district disclosure? |
If a sale, purchase or exchange of a real property is located in an agricultural district, the sales contract must include the disclosure that farming activities occurs in the district. |
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Megan's Law |
Sex offender registration act (SORA) 1996 must register at least 10 days prior to their release. |
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Bedbug Disclosure states |
It requires landlords to disclose bedbug infestation history for the previous year for the apartment being leased. |
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What is the Sherman Antitrust Act? |
Passed in 1890, it outlawed practices harmful to consumers, such as monopolies. |
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What is the Clayton Antitrust Act? |
Passed in1914, that provides further clarification and substance to the Sherman Antitrust Act of 1890 on topics such as price discrimination, price fixing and unfair business practices. |
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Federal Trade Commission Act |
create in 1914 as a consumer protection agency, its mission is to: anticompetitive, deceptive practices inform consumers |
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What is price fixing? |
When two or more competing real estate firms agree on a commission rate that each will charge. |
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What is Market Allocation or Division? |
When two or more brokers conspire to divide their customers in any way. aka: territory allocation |
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What is Group Boycotting? |
Is a concerted refusal between two or more businesses to deal with a particular competitor in order to force a negative economical impact in that persons business. |
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What is Tie-In Arrangements? |
When a RE broker requires a customer as a condition of a transaction, to use or not use a particular service or product. |
