It applies to housing that was designed or constructed for first occupancy after March 13, 1991. What is the cost associated with filing a fair housing complaint with the U.S. Department of Housing and Urban Development (HUD)? What are the three courtesies that the Professional Standards Committee have developed to support the REALTORS® Standards of Practice? What form will an owner use and give a tenant to sign when giving permission to keep a pet? Minimizes the capital gains tax burden on the sale of rental property. Which of the following strategies is a legal method that might be used to induce a tenant to move out prior to lease termination? Slip-and-fall accidents are classified as. How many Standards of Practice are in Article 12 of the Code of Ethics? In those cases when a broker is involved in a transaction but he or she does not prepare the contract, the broker. Who was granted civil rights protection by Section 504 of the Rehabilitation Act of 1973? The REALTOR® shall abide by the By-Laws, Rules, ... 24.3 This Article does not require REALTORS® to ... their Board/Association in writing that they choose not to arbitrate before the Board/Association. Not necessary. The Housing Segregation Actiii. The Fair Housing Act will sometimes exempt sellers for which of the following buildings? What type of housing units are designed for those people who want apartment-style living but with more control over their living space? When the occupant is absent, leave the property as you found it (lights, heating, cooling, drapes, etc.). Agent Wilson advertised the property and received several calls about the property. NAR Code of Ethics and Arbitration Manual. Executive Order 11246 established requirements against discrimination practices in employment and hiring on the part of whom? Unless otherwise specified, the buyer has how long after the Time Reference Date to complete any investigations, inspections or reviews? Alberto Culver Co., 417 U.S. 506, 511 (1974)). What is the purpose of the Fair Housing Design Manual? What did HUD create to assist designers, builders, and developers in understanding and conforming to fair housing design requirements? The practice of mortgage discrimination is also known as, The Housing Act of 1937 created public housing for the poor and working class who were suffering from. NFHA is the only national organization dedicated solely to ending discrimination in housing. What action will the grievance committee take if criminal litigation is pending? The main objective of Title IX is to avoid the use of federal money that would support sex discrimination in. What was the first U.S. federal law to ensure that all U.S. citizens were equally protected by law? Nothing, since filing a complaint is always free. When must a firm inform all parties in a transaction when providing services to both parties? It does, however, give both arbitration complainants and respondents greater latitude in determining who the parties are and how any resulting award will be made. Arbitration is a well-established and widely used means to end disputes. When a base industry located in a community, how many jobs may be expected to be created in the local economy for each one provided by the base industry? Which of the following statements best defines a rent schedule? Article 17 of Code requires Realtors to arbitrate rather than litigate. Rules of behavior based on ideas about what is morally good and bad. Often, the buyer may not know the substance of every document he or she signs. Section 8 of what act authorizes a variety of project-based rental assistance programs, under which the owner reserves some or all of the units in a building for low income tenants, in return for a federal government guarantee to make up the difference between the tenant's contribution and the rent in the owner's contract with the government? Given the significant degree to which Article 3’s mandate for cooperation—coupled with everyday practicality, feasibility, and expediency—make cooperative transact… What form should be used when all parties to a transaction have agreed to terminate the contract before consummation? The only Federal program dedicated to the housing needs of people living with HIV/AIDS is called, the Housing Opportunities for Persons with AIDS (HOPWA) Program, When a creditor treats an applicant differently based on a prohibited basis such as race or national origin, this is called. When are changes made to the Code and the Standards of Practice? Agent Sam has won a hearing and is entitled to a disputed commission. What is the favored dispute resolution method of REALTOR® organizations? Among the Code’s duties is the obligation to arbitrate, established in Article 17. I. One offer was 2% less than the listed price and the other was 6% less than the listed price. must still document that he or she has complied with the services provided disclosure requirements. What is the purpose of the Emergency Solutions Grant (ESG) Program? In low-income neighborhoods at the outskirts of metropolitan cities. What is it called when an owner collects rent on a unit with an option for the tenant to become the new owner? What type of information is typically not found on an opinion of value report? Hold the file as pending until legal action is completed. Articles February 13, 2015 Many business owners and construction industry entities prefer, as a matter of course, that construction disputes be submitted to binding arbitration. What program provides funding to fair housing organizations? A decision to remove or reduce a hazardous situation is known as what? Who administers and enforces federal fair housing laws? Which Standard of Practice states that REALTORS® may not print, display or circulate any statement or advertisement with respect to selling or renting of a property that indicates any preference, limitations or discrimination based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity? To provide a standard of customer and client care. A REALTOR® may contact a owner to determine when a listing terminates. What Fair Housing Program provides funding to fair housing organizations and other nonprofits that assist people who believe they have been victims of housing discrimination by helping them contact their local government agency? What skill requires a manager to have a knowledge of space planning and floor design? What type of maintenance involves doing periodic inspections and determining when minor issues need to be repaired? What does NFHA stand for? Before brokers are entitled to claim or sue for commissions on the sale of real property, they must meet which of the following requirements? What is the most widely used listing agreement? A REALTOR® must advise the Board in writing that they choose not to arbitrate before the Board. Both A and B: Repayment of loan is guaranteed if borrower defaults and VA loans are 100 percent of the property value established by the va. What type of budget is used to show a plan for installing a game room? In 1968 what Act was passed in response to the assassination of Dr. Martin Luther King Jr.? What form does a third party buyer need to attach to his or her Contract for Sale when he or she wants to make an offer on a property that is currently under contract? Spouse does not need to sign lease. 25. What is it called when a tenant remains on the property without the owner's consent after the lease terminates? In what document would you find a listing of professional courtesies? What type of software features allow a tenant an access portal to pay rent online, review lease documents, and make service requests? monetary disputes among broker members of the Association, do not establish whether ethics violations have taken place. ... c. discover and disclose adverse factors only within areas required by the real estate licensing authority. Installing four-sided isolation barriers with self-latching gates. A statement of proposed rental rates based on a building's estimated expenses, market demand, and the owner's long-range property goals. . Start studying Arizona Real Estate: Ethics and Property Management. What is the suggested strategy for currently active brokerage agreements signed into effect prior to November 1, 2013? In what Article would you find rules regarding deliberately misleading a property owner as to market value? A key element in the practice of real estate is the contract. speak only through their minutes, and their acts are evidenced solely by entries on their minutes.”. Jill has applied for a mortgage loan. When attempting to purchase property for themselves. To support, interpret, and amplify a specific article. Among the Code's duties is the obligation to arbitrate, established in Article 17. When you sign a purchase agreement in the state of Minnesota, “you have the right to choose whether to have disputes about disclosure of material facts affecting the use or enjoyment of the property that you are buying or selling decided by binding arbitration or by a court of law. Inquiry, invitation, offer, counteroffer, contingency, waiver, acceptance, rejection, execution, breach, rescission, reformation, and other words of art become integral parts of the broker’s vocabulary.
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