The California Department of Real Estate (DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement.
How the real estate law is enforced by the real estate Commissioner?
The Commissioner's Role
In enforcing the provisions of the Real Estate Law, the Commissioner has authority, if supported by the evidence, to hold formal hearings to decide issues involving a licensee or a license applicant. Such hearings may result in the suspension, revocation, or denial of a real estate license.
Who regulates real estate in USA?
What laws govern real estate transactions? Primary responsibility for property law rests with the states and not the federal government. Property law has developed through the English common law process in all states, except in Louisiana where property law has developed through French law.
Is the California real estate law administered by the California?
California's real estate license law is administered by the Department of Real Estate, under the supervision of the Real Estate Commissioner. The state agency that administers the Real Estate Law.
Who handles real estate closings in California?
In California and many western states it's the title company that assumes that responsibility. The title company handles all of the prorations, all the collecting of funds, all the disbursement of funds, and payment of all the outstanding liens against the property.
Which of the following is not a required disclosure when selling a property in Florida?
The seller is not obligated to disclose any defects that are obvious, such as a broken window or a hole in a wall. Only those issues known as “latent defects” must be disclosed. A defect that cannot readily be seen during a normal inspection is considered “latent.”
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What disclosures are required when selling a house in Florida?
Examples of mandatory disclosure items include known defects or issues with a property's roof, foundation, electrical, plumbing, mechanical systems. Additional examples include violations, disputes, litigation and environmental hazards such as lead, asbestos, mold and insect infestations or underground storage tanks.
Frequently Asked Questions
What is the disclosure law in Florida?
Florida case law provides that, with some exceptions, a residential home seller must disclose any facts or conditions about the property that have a substantial impact on its value or desirability and that others cannot easily see for themselves. This originally came from the court case of Johnson v. Davis, 480 So.
Which of the following is a duty of the real estate commissioner quizlet?
The primary responsibility of the real estate commissioner, who is appointed by the governor, is to enforce the real estate law in such a manner that purchasers of real estate and those people dealing with real estate licensees are afforded maximum protection.
What does a D&R stand for when issued by the State real estate Commissioner?
• Bar Order (Preliminary and/or Final) — Prohibited from engaging in specified real estate related activities. • D&R — Desist and Refrain Orders.
In which of the following cases will Robert the executor of his father's estate not waive his executor's fee?
The correct answer is d. Based on the scenario, Robert will not waive his executor's fee in answer d. If he waived the fee he would have to share the residual with two other beneficiaries, and he would be left with less than if he would have taken the executor's fee.
Which of the following items would be included in the gross estate of a decedent who died this year?
The gross estate includes the value of all property in which the decedent had an interest at the time of death. Therefore, the value of the personal effects and jewelry is included in the gross estate.
Which of the following items are included in a decedent's gross estate?
Property included in the gross estate can be real or personal, tangible or intangible, and located anywhere. The gross estate includes obvious types of property that may be owned by a decedent, such as cash, real estate, and stocks and bonds.
Who is the only person a testator Cannot disinherit?
A testator's spouse cannot be disinherited because he or she is entitled to take an elective share of the testator's estate, regardless of the provisions of the will.
FAQ
- Who regulates real estate agents in California?
- The California Department of Real Estate (DRE) is the state agency that licenses real estate brokers and salespersons. The California DRE also investigates complaints and disciplines practitioners who violate the law.
- How can a realtor lose their license in CA?
- Criminal convictions – Real estate agents can lose their licenses over various criminal convictions and can also be denied a license after an initial application. Mortgage fraud – Fraud of any kind can result in the loss of a license and criminal charges.
- When a complaint is filed against a real estate licensee in California who is responsible for investigating the complaint?
- The DRE Investigations are made by the Department of Real Estate's Enforcement Section on the basis of written complaints received from the public. To initiate an investigation, the DRE must determine two things: That the individuals or companies involved are under the DRE's jurisdiction.
- What is the most common complaint filed against realtors?
- Breach of duty One of the most common complaints filed against real estate agents revolves around the concept of breach of duty. In this blog, we'll delve into what breach of duty entails, provide examples of actions that could lead to such breaches, and emphasize the potential legal ramifications agents may face.
- Who oversees regulates administers and enforces the real estate law?
- The Department of Real Estate (DRE) not only administers and enforces the laws governing the sale of subdivided lots and common interest developments, including condominiums and planned developments, it also administers and enforces laws governing the sale of time-share interests.
- What is non representation in Florida real estate?
- A no brokerage relationship or non representation takes place when the broker is not directly involved in buying or selling of the property. he/she just facilitates the listing of the property for which he/she can be paid a certain amount. What are the duties of a broker in a no brokerage relationship?
- What is a non representation relationship?
- Nonrepresentative Broker: A legal brokerage relationship in which brokers do not represent either buyers or sellers in a transaction.
Real estate law is administered by who?
| What does unrepresented mean in real estate? | Staff is there the developer sales staff has no loyalty to you they have loyalty to the developer aka the seller. Same. Situation they have no duty to avoid conflicts of interest. |
| Which duty is required in a nonrepresentation relationship? | Non-Representative Broker: A real estate licensee who has no brokerage relationship, owes the following duties: Dealing honestly and fairly; Disclosing all known facts that materially affect the value of residential real property which are not readily observable to the buyer. |
| What is an example of a non agency relationship? | Your mom asks you to give the friend some pointers and help her know what she should do. You agree to talk to her friend, give her some suggestions and help her get started. However, you are not her agent, you do not do any of the work yourself, and she doesn't expect any results from you. |
| What is the role of the real estate of Commissioner California? | The Commissioner's Role To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations. Known as the Regulations of the Real Estate Commissioner, these have the force and effect of law. |
| What is the Commissioner's Regulation 2725? | A responsible broker shall exercise reasonable supervision over the activities of their salespersons or broker associates acting in the capacity of a salesperson. |
| What is the Commissioner's Regulation 2726? | 2726. Every real estate broker shall have a written agreement with each of his salesmen, whether licensed as a salesman or as a broker under a broker-salesman arrangement. |
| What is the commission Regulation 2770? | "California Commission's Regulation 2770 allows individuals who advertise services over the Internet to do so in California without a California license if the advertisement does not involve a service for which a real estate license is required, or if the advertisement involves a licensed-required activity but is not |
- What is the function of the commissioner?
- (d) the Commissioner shall bring to the notice of the Corporation any act or resolution of the Corporation which may be in violation of any Government instructions or the provisions of this Act, provided that if such act or omission of the directions of the Government or the provisions of the Act, as the case may be,
- What is an agreement in which only one party promises to perform without receiving a reciprocal promise to perform from the other
- A unilateral contract is a one-sided contract agreement in which an offeror promises to pay only after the completion of a task by the offeree. In this type of agreement, the offeror is the only party with a contractual obligation.
- Which of the following tasks would require a real estate license in Florida?
- Which of the following tasks would require a real estate license? Host an open house. Administrative tasks are fine, but anything that involves activities normally performed by a licensee (such as meeting with the public to show real estate) would require a license.
- Which of the following is a requirement for a valid agency relationship?
- Consent: Consent of both the principal and the agent is necessary to form an agency relationship. More specifically, both the principal and the agent must consent to the agent acting on the principal's behalf and subject to the principal's control.
- What listing clause allows a licensee to collect a commission on an expired agreement if the property is sold to previous known interested buyer?
- A safety protection clause in a listing agreement entitles the real estate broker or agent to a commission after the listing expires or is canceled. This applies when the final buyer was brought to the deal by the broker.
- What are the three types of reciprocal promises?
- We have also discussed the various types of reciprocal promises (mutual and independent, conditional and concurrent). We have also talked about the various rules that need to be followed with regards to reciprocal promises which are Sections 51-58 of the Indian Contract Act, 1872.
