Download Unit 7 - Real Estate Academy of Learning

Survey
yes no Was this document useful for you?
   Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Document related concepts
no text concepts found
Transcript
Florida Real Estate Principles,
Practices & Law 39th Edition
Unit 7: Federal and State Laws
Pertaining to Real Estate
Civil Rights Act of 1866
• Prohibits discrimination based on race in all
real estate transactions
• No exceptions
• Jones v. Mayer Supreme Court decision
Civil Rights Act of 1964
• Ended racial segregation in schools,
workplaces and public accommodations
• Prohibits discrimination based on race, color,
religion, or national origin in
– Public accommodations
• Hotels, restaurants, gas stations, places of
entertainment
– Public facilities: government-run facilities
Civil Rights Act of 1968: Fair Housing
Act
• Title VIII of Civil Rights Act of 1968
– Discrimination is illegal in sales, leasing, advertising
sales or rentals, financing, or brokerage services if
based on
•
•
•
•
•
Race
Color
Religion
Sex
National origin
– 1988 amendment added
• Handicap (mental or physical)
• Familial status
Familial and Handicap Status
• Familial status
– Families with children under 18 and pregnant
women
• Handicap status
– Any physical or mental impairment that
interferes with normal life functioning
Memory Tool: FRSH CRN (Fresh Corn)
•
•
•
•
Familial status
Race
Sex
Handicap status
• Color
• Religion
• National origin
No Protection Under Fair Housing Act
•
•
•
•
•
Age
Occupation
Marital status
Sexual orientation
State or local laws may add additional
protected classes
Fair Housing Poster
• Pledges adherence to the Fair Housing Act
• Displayed at real estate brokerage offices,
mortgage lender offices
• Available free from HUD
• Failure to display poster may be used as
evidence of discrimination in a complaint
Fair Housing Act Covers
• Single-family housing
– Government owned housing
– Privately owned if licensee employed to sell or
rent the property
– Property owned by person who owns four or
more residential units
– Owner, during past 2-year period, sells two or
more houses (not owner-occupied)
Fair Housing Act Covers:
• Multifamily housing
– Five or more units
– Four or fewer units (not owner-occupied)
Housing for Older Persons
• Exempt from the familial status protection
provided
– All units are occupied by persons 62 or older;
or
– At least 80% of the units are occupied by one
or more persons 55 or older
Transactions Exempted Under the Act
• Exemptions apply under two conditions
– A real estate licensee is not involved
– No discriminatory advertising
Exempt Transactions
• Seller owns three or fewer single-family dwellings
• Seller was not living in the house and was not
most recent resident when property was sold or
rented (One exempt sale in 24-month period)
• Rentals in multifamily dwellings with four or
fewer family units and owner lives in one of the
units
• If racial discrimination, Civil Rights Act of 1866
applies
Special Exemptions
• Housing operated by religious organizations
and private clubs not operated for commercial
purposes
– Religious organizations may restrict units to
members of their religion provided they do not
discriminate in accepting membership
– Private clubs may restrict units to its members
Prohibited Activities
• Steering
– Channeling homeseekers to or away from
neighborhoods
• Blockbusting
– Using entry or rumor of entry of a protected class
to urge owners to sell
• Redlining
– Denying loans or insurance coverage or different
terms and conditions for homes in certain
neighborhoods
Prohibited Activities
• Refuse to rent to, sell to, negotiate with, or deal with a
member of a protected class
• Quote different terms, conditions, or privileges for
buying or renting
• Advertise housing is available only to people of a
certain race, color, sex, religion, national origin,
handicap status, or familial status
• Deny membership or use of any real estate service
• Make false statements concerning availability of
housing for inspection, rent, or sale
Enforcement of the Fair Housing Act
• Complaints filed with HUD under the Fair
Housing Act
– One year time limit
• Action taken by the Department of Justice
• Civil suits filed in Federal District Court
• Responsibility and liability of real estate
licensees
Florida Fair Housing Act
• Same 7 protected classes as federal law
• Prohibits
– Refuse to rent or sell housing
– Falsely deny that housing is available for inspection,
rental, or sale
– Refuse to make a mortgage loan
– Impose different conditions or terms on a loan
– Threaten, coerce, or intimidate any individual
exercising a fair housing right
– Refuse reasonable changes to a dwelling to
accommodate a disability
Americans With Disabilities Act (ADA)
• Protects employment and accessibility rights of
individuals with mental and physical disabilities
• Disabled cannot be denied access to public
transportations, public accommodations, and
commercial facilities
• Includes real estate brokerage offices even if located in
a private residence
– Modifications may be required if readily achievable
• Florida Americans With Disabilities Implementation Act
Interstate Land Sales Full Disclosure
Act (ILSA)
• Federal law that regulates sale or lease of land
• Administered by Consumer Financial
Protection Bureau (CFPB)
• Certain developers must register
developments and disclose to prospects facts
regarding the real estate
Two Components
• Registration requirement
– Developers must register subdivisions of 100 or
more lots with Bureau of Consumer Financial
Protection
• Property report
– Developers of 25 or more lots must provide
purchaser with a property report disclosure
before signing contract
– May cancel within 7 days
– Buyers who did not receive report prior to signing
contract may cancel within 2 years
Residential Landlord and Tenant Act
• Place landlords and tenants on equitable legal
basis
• Applies to rental of dwelling units
– Not transient facilities
– Not renting of mobile home lots
– Not commercial leases
Deposits and Advance Rents
• Landlord must account for deposits and advance
rents
– Hold money in a separate noninterest-bearing
Florida bank account for the benefit of tenant
– Hold money in a separate interest-bearing Florida
bank account and pay the tenant at least 75%
interest or 5% per year simple interest
– Post a bond for amount of security deposits and
advance rents or $50,000 (whichever is less) and
pay tenant 5% per year simple interest
Deposits and Advance Rents
• Landlord must provide written notice to
tenant within 30 days of collecting deposit
Broker Property Management
• If a broker holds the funds on behalf of the
landlord, broker must abide by license law
regarding escrow funds
• Deposits and advance rents are trust funds that
must be deposited into the broker’s escrow
• Best to open a separate escrow for property
management but not required
• $5,000 broker’s funds to maintain the account
• Sales associates must deliver rent and rental
deposits to broker by end of next business day
Obligations to Maintain Premises
• Landlord
– Meets health and building codes
– Working heat and running hot water
– Insect extermination, garbage receptacles and
pickup
– Working smoke detectors
• Tenant
– Meets health and building codes
– Use reasonable care in operation of equipment
– Not disturb peace of others
Landlord’s Access to Premises
• Tenant must allow landlord to enter property
to make inspections, provide services, make
repairs, and to show property
• Landlord may enter property at any time in
case of emergency
• Otherwise, obligated to give tenant
reasonable notice (at least 12 hours)
Vacating Premises
• When landlord is holding a security deposit
– Return to tenant within 15 days if no claim is to be
made
– Send written notice by certified mail within 30
days if claim is made
– Tenant allowed 15 days to respond to landlord’s
written claim
– Disputes handled in civil court
• Exception to conflicting demand rules if broker is
holding security deposit
Termination of Rental Agreement by
Tenant
• 7-day written notice
• Rent may be reduced by a court if tenant
desires to remain on premises
• Notice delivered
– Personally
– Mailed
Termination of Rental Agreement by
Landlord
• 7-day written notice
• 3-business-day written notice for nonpayment of rent
• Notice delivered
– Personally
– Mailed
– Posted on door
Eviction Requirements
• Notify tenant in writing (3-business-day or 7-day)
• After time period is up, file complaint for eviction
• Tenant has 5 business days to respond to
complaint
• If tenant continues to occupy without
responding, obtain final judgment from court
• Post 24-hour notice
• Sheriff signs writ of possession