Massachusetts Supplement Law

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Real estate board

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The state agency that issues real estate licenses and monitors the activities of the real estate professional is the board registration the real estate broker and salesperson. This board is one segment of the division of professional licensure which falls under the Office of Consumer Affairs and business regulation within the Commonwealth. This board is funded through the state budget and distributes the fees they collect to the general fund of the State Treasury. Several individuals are employed to ensure the day-to-day operation run smoothly. The board of registration of real estate brokerspersons also has an appointed Board to assist with the operation of real estate activities within the Commonwealth of Massachusetts.

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The procedures of the real estate board

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There are five numbers board appointed by the governor. All the members must reside within the Commonwealth of mass. The governor selects the chairman of the board. The term of office is for 5 years and members may be reappointed. The governor fills any vacancy for an unexpired term. Three members must be licensed Brokers with 7 years experience. Two members are public members and do not need any real estate experience. All of the board members serve without pay. Board members are paid expenses necessary occurred in the discharge of their official duties. The board must meet at least four times a year at any place decided by the board or may hold special meetings if required. Three members must be present for a quorum (valid meeting) to take place. The board will record and maintain records of the meeting which are available to public viewing. If the chairman does not attend the meeting the most senior board member will chair the meeting. The board shall I render to the governor and the general court a report of its proceedings. This Record will include the itemized statement of all receipts and expenses of the board for the year. The board or its agents has the authority to conduct investigations and hearing upon a written complaint or its own initiative. They have the right to inspect records and bank accounts within a real estate office. The board can summon records and subpoena individuals for Testimony. The board must give an agent / broker who has a complaint issue against them a copy of the complaint. The agent / broker must respond in writing to the board within 10 days of receiving the complaint. The agent who has the complaint issued against them has a right to counsel and to cross-examine Witnesses but is not entitled to an attorney. Entitled would mean that the state would be required to pay for an attorney. If the board issues a unfavorable decision against an agent they can appeal the decision to the Massachusetts Supreme Court within 20 days. If an agent decides to appeal the revocation or license suspension they must follow their real estate license to the real estate board within seven days from the notice of suspension or revocation. A decision by the board must be made majority and sign by the board member. Copies are distributed to the parties involved.

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19 if them

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Activities that would cause a loss of real estate license

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If it is determined that the license was obtained or renewed by false or fraudulent means. If the licensee knowing made a substantial misrepresentation (accidental mistake) regarding a property or if the licensee misrepresentation cause substantial harm to others. If the licensee ask for more than one party in a transaction without the knowledge and consent of all of the parties involved. (Undisclosed dual agents)

If the licensee act in a dual capacity of undisclosed principal and real estate broker or agent in the same transaction. If the licensee is selling their own house or buying a property through their Affiliated real estate office they must have schools and receive acknowledgement of their license stature in writing. If the licensee fails to disclose and receive acknowledgment in writing that either themselves or their can possess a financial interest in the property they are selling or buying. If the licensee fails within a reasonable time to account for or remit any monies that belong to others that have come into their possession as a salesperson or broker. If the licensee paid a commission fee or consideration to someone who was required to be like since but did not possess a license. If the licensee accepts gives or charge an undisclosed commission or rebate or profit on expenditure for a principal. If the licensee induced a party to a real estate agreement to break the contact for personal gain. If the licensee commits an act prohibited by Massachusetts law. If the licensee commits Act of panic blockbusting or peddling. These acts are when a licensee seal tapes for sale lease or the listing for sale or lease of a residential property on the ground of alleged change of value due to the presence or perspective entry until the neighborhood of a people or person of another race economic level religion or ethnic origin or distribution or caused to be distributed material or make statements designed to induce a residential property owner to sell or their property due to change in their neighborhood.

If the licensee except a net listing agreement. This is an agreement to sell or lease a parcel of real estate for the stated price and authorize the broker to keep as a commission any amount of money received in excess of the stated price. It is illegal in Massachusetts. If the licensee is found to have violated Massachusetts fair housing law (M.G.L. chapter 151 B) in the course of their occupation by the Massachusetts commission against discrimination (mcad) the board show forth with suspended license for a. Of 60 days. And second violation within two years from the last finding result in a 90-day suspension. An agent can be fined up to $2,000 in Damages as well. A licensee could have their license suspended or revoked if they offer real property for sale that was located within another the proper pre-approval of the real estate board. If a licensee fails to notify the real estate Board of change of business address. If the licensee practice real estate while impaired by drugs or alcohol. If the licensee fails to report to the real estate board within 30 days of any convictions of a misdemeanor or felony committed in the United States. If the licensee practice real estate while their license was revoked expired or suspended. If the licensee discriminates against an individual based on their age marital status gender familial status sexual preference sex religion socioeconomic status or disability. If the licensee assumes Duty for which they are not adequately prepared to administer or for which they have not achieved competence. The penalty for practicing without a license is a fine up to $500. If the licensee fails to disclose in written that either themselves or their can possess a financial interest in a property they are selling or buying.

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The real estate board has the authority to revoke suspended refuse to renew or find a real estate agent license. Activities that would cause them to do so are the following:

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93a Massachusetts consumer protection statute

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This lawbreaker leads the practice of all those engaging in business practices within the Commonwealth of Massachusetts. It mandates that businesses be fair when dealing with consumers and prohibits them from engaging in deceptive and unfair practices. A state attorney general investigates complaints.

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93a demand letter

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If consumer feels that they were not treated fairly they have an option of Court action. Prior to this court action they must seek to remedy the situation by a 93a demand letter. The person receiving the letter has 30 days to respond to the letter and to find the remedy to the complaint.

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Requirements for the 93a letter

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Must be sent to the party involve outlining a remedy 30 days prior to seeking a court action. Must provide specific regarding the complaint. Must indicate all of the parties involved in the situation. Last Detail the damages and the remedy to cure the damages. Must indicate the amount of money being requested to remedy the complaint.

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Comprehensive environmental response compensation and liability Act (cercla)

Superfund law

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A federal law refers to as the super fun. It was enacted in 1980 and gives the federal government the authority to impose penalties against the parties responsible for contaminating a site or roadway and mandates that these sites be cleaned. This act imposed a tax on the oil and chemical industry. The funds collected from this tax have been used to clean up contaminated sites.

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Massachusetts oil and hazardous material release prevention and response Act mgl 21e

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This act is a Massachusetts version of circular Mass super fun. The owner of the property must disclose to the buyer the possibility of any toxin that maybe present in the soil. The buyer has the right to inspect for contamination. The lender May mandate that a commercial site have a 21e site assessment before they approve a loan. The cost of the inspection is usually negotiated between the seller and the buyer. If the property owner has negligent by not protecting against chemical spills or contamination they could face serious consequences. The party responsible for the pollution is also the party responsible for the cleanup if they cannot identify. They will file a lien for the cost of the cleanup at the registry of deeds. This lien hold priority status and will take presidents over other liens.

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Title V report provided by the seller

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Title V regulates private septic systems Waste Disposal Systems. If a property is being sold expanded or the use is being change it must be inspected to ensure it meets the minimum standard approved by the state. In order to build or expand the town will be concerned about the absorption rate. A perk test is required. The town may require stricter enforcement requirements than the state guidelines refinance do not require expections it should be inspected within 6 months.

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Point to know regarding title V

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The property must be inspected Within the prior two years from the date of sale. This requirement is 3 years if the property is pumped annually. If the property fails the inspection it must be brought into compliance within a designated time frame. The town will delegate the time frame. If the inspection cannot occur due to weather condition it may be completed within 6 months from the date of sale of the property. If the property fails inspection the lender hold back some of the proceedings from the seller until the system is brought into compliance. The Massachusetts Housing Finance agency has a home improvement program for low to moderate-income homeowners who are required to upgrade their system. The state allows a tax credit up to 1500 per year for work performed. The total credit cannot exceed $6000 Over a four-year.