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 months. You'll see Regulatory News, new Realegals®, and What's Hot announcements.
June 30, 2016 What's New: The Federal Trade Commission has charged the operators of a mortgage relief scam with bilking millions of dollars from homeowners by falsely telling them they could join a so-called “mass joinder” lawsuit that would save them from foreclosure and provide additional financial awards.
June 28, 2016 Legal Article: It is becoming more common to hear of real estate transactions being hacked. The schemes and ploys are ever changing, and new ones seem to develop as quickly as the older ones are exposed. To prevent you and your client from falling victim to the theft of thousands of dollars, common sense procedures are recommended.»
June 16, 2016 (revised) Legal Article: This Q&A addresses the most common questions about the RR form fielded by the Legal Hotline attorneys. It will explain the advantages of the form; answer technical questions associated with filling it out; and provide practical tips for both listing and buyer’s agents.
June 15, 2016 Legal Article: The Truth in Lending Act (TILA -- 15 United States Code Sections 1601 et seq.) is a federal law that regulates the disclosure of credit costs and terms in many credit and loan transactions. Regulation Z (12 Code of Federal Regulations Part 1026) is a related body of federal regulations that implement and refine the provisions of TILA. Together, TILA and Regulation Z help to ensure that consumers are provided with adequate information and safeguards when shopping for credit. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) amended TILA to grant rulemaking and enforcement authority under TILA and Regulation Z to the Consumer Financial Protection Bureau (CFPB).
May 24, 2016 C.A.R. publishes five different contracts which may be used to establish a residential listing agreement between a seller and the listing broker. This legal article discusses the main features of these listing contracts and it also provides guidance to REALTORS® in selecting the appropriate contract to use.
Legal Q&As -
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