Core Law-Minimize the Legal Risk (3CE)

Description

Understanding real estate law is part of every real estate licensee’s business. The more a licensee knows, the better he or she can work with customers and safeguard them from legal complications. Buying and selling property requires a lot of legal paperwork. Today, more than ever, it’s important to know the laws governing the practice of real estate. This material will provide a "red flag notice" of when participants are potentially going into a danger zone—the unlicensed practice of law.

Objectives: After taking this class students will be able to:

• Identify and avoid the unlicensed practice of law.

• Describe the two Supreme Court Approved lease forms for use by licensees in Florida.

• Describe the seller’s duty to disclose material facts under the Johnson v. Davis ruling and the licensee’s duty under Rayner v. Wise Realty Co.

• Demonstrate knowledge of the Florida Landlord and Tenant Act.

• Describe the disclosures required in the sale of Condominiums or properties covered by a Homeowner’s/Community Associations.

• Identify Florida Environmental and Growth Management Laws.

• Demonstrate knowledge of the requirements in the Florida Brokerage Relationship Disclosure Act.

• List the duties included in the Single Agent, Transaction Broker and No Brokerage Relationship.

• Identify the requirements for transitioning a brokerage relationship from one to another.

• Describe the disclosure requirements in the Designated Sales Associate Relationship

• Explain the FREC rules regarding a Broker’s Escrow Account.

• List and describe some of the common environmental hazards associated with real property

• Identify the rules regarding Mutual Recognition Agreements Florida has with other states regarding licensing education.