• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

Card Range To Study



Play button


Play button




Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

24 Cards in this Set

  • Front
  • Back
Negligent Misrepresentation
is when you don't disclose something because you don't know it but because you should have known it
When does an agent get paid commission
when the agent produces a "ready, willing and able buyer" it's called "procuring the cause" the one who brought the deal together
If a seller renegs on a sales after the broker produced a "ready, willing and able buyer"
the broker is still entitled to the commission
Fair House Laws -
1866 Civil Rights Act
prohibits discrimination in the purchase, sale, lease or conveyance or real property on the basis of race.
Fair Housing Laws -
1968 Fair Housing Act
(Title Eight)
prohibits discrimination againsts:
- race
- color
- religion
- national origin
1974 Housing & Community Development
added you couldn't discriminated against a persons
- sex
1988 Fair Housing Amendments Act
added you couldn't discriminate against
- families w/children
- physical/mental disabilities
Department of Housing and Urban Development
Racial Discrimination:
Jones v. Mayer (1968)
Supreme court upheld the 1866 decision where RACE is involved, no exceptions apply
- prohibits steering, blockbusting and redlining
Exceptions to Fair Housing Act
- owner-occupied bldgs (no more than four units)
- single homes sold or rent w/out licensee
- housing operated by organizations or private clubs that limit occupancy to members
Exceptions to Fair Housing Act - the sale or rental of a single home is exempt when
- home is own by an individual who does not own more than 3 houses @ a tiime
- real estate licensee is not involved in the transaction
- discriminatory advertising was not used
Housing for older persons
- housing to 62 or older is not held to the 'family protection'
- housing to 55+ where 80% are units occupied by 55 or older, is also exempt from family status protections
ECOA - Equal Credit Opportunity Act (enforced by Federal Trade Commission FTC)
prohibits discrimination in granting credit based on
- race
- color
- religion
- national origin
- sex
- marital status
- age (unless under 18)
ADA - Americans with Disabilities Act
ADA & Fair Housing

ADA would cover apartment buildings and rental office space, meaning the owners would need to ensure disability access
- Fair Housing Act would mean that the disable person would be responsible for the modification made to an apartment upon moving in
Blockbusting (panic selling)
act of encouraging people to sell or rent the homes by claiming entry of 'protected' class of people moving to the neighborhood, big in the 50's & 60's, another term is 'panic selling' is illegal
is channeling of homeseekers to a particular neighborhood by discourgaing potential buys from considering some areas. This is illegal
Advertising (HUD Regulation)
Advertisements of property for sale or rent may not include language indicating a preference or limitation. No exception to this rule exists, regardless of how subtle the choice of words.
Appraising (HUD Regulation)
when preparing an appraisal, you may never include
- race, color, religion, national origin, sex, disability or family status
practice of refusing to make mortgage loans or issue insurance policies in specific known areas for reason other an economic qualifications. This practice often is a major contributor to the deterioration of older neighborhoods.
Intent & Effect
Owners & licensees must watch if they are unintentionally engaging in discrimatory effects, intent and effect
Response to Terrorism
HUD does not discriminate on a persons citizens status, asking for a citizens documentation is legal. (e.g. landlard may not want to rent to a student here on a visa that would expire 1/2 way thru the lease)
If a person feels discriminated against
file complaint w/HUD up to 1 year. HUD investigates within 100 days. Civil penalities may result in up to $50k for first violation, up to $100k for second and subsequent violations
(ALJ) Administrtive Law Judge
complaints may be heard by a judge who can award:
- up to $11k for 1st offense
- $27,500 for 2nd within 5 yrs
- $55k for further within 7
- injunctions may also be issued
civil actions may be filed witht he feds within 2 years of the act
Displaying the Fair Housing Poster
every real estate office must display the HUD Federal Fair Housing Act Poster - HUD logo and other such wording must be used in advertising