Welcome to the Legal Section of C.A.R. Online, where REALTORS® legal needs are met with the latest information and legal updates. Look below for the latest legal news during the last two weeks. You'll see Regulatory News, new Realegals®, and What's Hot announcements.
Attorney Outreach Calendar C.A.R. attorneys visit real estate offices and local associations throughtout the state providing an opportunity for a live discussion of current legal issues as well as training sessions on the use of new C.A.R. standard forms.
Aug. 21, 2015 What's New: Tamara Tikal, 45, of Rio Vista, California, was sentenced on July 16, 2015, to three years and nine months in federal prison for her conviction for conspiring to commit mail fraud in relation to a foreclosure rescue scam. Tamara Tikal was also ordered to pay $3,671,000 in restitution to victims of the offense.
Aug. 19, 2015 (revised) Legal Article: Beginning October 3, 2015, the Good Faith Estimate (GFE), the HUD-1 and the Truth-in- Lending Act (TILA) disclosures will be replaced in most transactions by two new forms – the Loan Estimate and the Closing Disclosure.
Aug. 13, 2015 (revised) Legal Article: The standard forms published by C.A.R. for use in real estate transactions are protected by copyright law. To insure the value of the copyright is preserved, C.A.R. vigorously pursues and prosecutes persons who commit copyright infringement on the standard forms. Occasionally, persons inadvertently commit copyright infringement because they lack an understanding of basic copyright law. Therefore, to clarify the application of copyright law to C.A.R.'s standard forms and to avoid unnecessary prosecutions, the following questions and answers address the main questions that arise with respect to copyright law and C.A.R.'s standard forms.»
Aug. 12, 2015 (revised) Legal Article: This legal article discusses the requirement under federal law that a buyer withhold funds equal to 10 percent of the sales price in certain types of sales, and send the amount withheld to the Internal Revenue Service (IRS) at the close of escrow. The federal law is called the Foreign Investment in Real Property Tax Act (FIRPTA). The questions and answers that follow are based mainly on Internal Revenue Code §§ 1445 and 879, and regulations issued by the Treasury Department.
Legal Q&As -
Find answers to over 150 subjects in more than 50 categories.»