The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. FCC Actions on Robocalls, Telemarketing | Federal Communications Commission A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Lynn's home phone number is 333-2020. Property taxes are paid in arrears - so seller has paid no taxes that month. How will the property taxes be entered on the closing statement? ahhhhhhh I wannnnnnaaaaaa slllleeeeeeeppppp - Chegg Management considerations is one of the disadvantages of investing in RE. Remainderman - 3rd party fee simple ownership at end of life estate by wife. B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. Is this transaction covered under Truth in Lending Act? Which statement is FALSE concerning federally related transactions? Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. The seller countered at $250,000. A person applies for a mortgage loan from a local credit union. 5. Limited partners must register with the FREC under the limited partnership name. 1st time homebuyers (IRA contribution up to $10K) B) The Department of Veterans Affairs partially guarantees VA mortgage loans. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. writing bad checks, crimes of larceny). Ann. Prevention Methods - Identity Crimes - Center for Identity Management The broker decides to appeal FREC's final order. Bush in 1991 and has remained the bedrock of federal telemarketing regulations ever since. Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. Connected Investors robocalls $2M class action settlement Placement of the windows is most important on which type of lot if the homeowner is concerned about the possibility of vehicular headlights shining into the front windows? Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which statement about the economic concept of demand is FALSE? Part 310: Telemarketing Sales Rule: Advanced Notice of Proposed Rulemaking; Request for Public Comments Concerning Caller Identification Services and Disclosure of the Identity of the Seller or Telemarketer Responsible for Telemarketing Calls, Telemarketing Sales Rule; Final Rule; Correction, Telemarketing Sales Rule; Final Rule Amendments, Telemarketing Sales Rule; Extension of Comment Period in Notice of Proposed Rulemaking - 16 CFR Part 310, Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sales Rule Fees - 16 CFR Part 310, Telemarketing Sales Rules; Notice of 15 day Extension in Comment Period - 16 CFR Part 310, Notice of 30-Day Extension in Comment Period in the Review of the Telemarketing Sales Rule - 16 CFR Part 310, Telemarketing Sale Rule - 16 CFR Part 310, Notice of Intent to Request Public Comments on Guides for the Household Furniture Industry and the Telemarketing Sales Rule - 16 CFR Parts 250 and 310, Do-Not-Call Provisions of Telemarketing Sales Rule; Meeting - 16 CFR Part 310, Telemarketing Sales Rule "Divestiture Orders in Merger Cases" Agency Information Collection Activities; Proposed Collection; Comment Request; Extension - 16 CFR 310, Telemarketer Fees to Access the FTCs National Do Not Call Registry to Increase in FY 2019, Telemarketer Fees to Access the FTCs Do Not Call Registry to Rise Slightly in FY 2018, FTC Update: Telemarketer Fees for the Do Not Call Registry to Rise Slightly in FY 2017, FTC Amends Telemarketing Rule to Ban Payment Methods Used by Scammers, La FTC enmienda la Regla de Telemercadeo para prohibir mtodos de pago utilizados por los estafadores, Public Forum on Debt Relief Amendments to the Telemarketing Sales Rule, Public Forum on the Telemarketing Sales Rule: "Do-Not-Call", Workshop On Proposed Telemarketing Sales Rule. AND, IT WILL PROTECT THE NEW OWNER (IF TRANSFERRED) UP TO THE UNPAID BALANCE OF THE MORTGAGE LOAN. The Telephone Consumer Protection Act (TCPA) is the primary federal law governing the regulation of telephone solicitations. Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. A) Seller and buyer both claim the earnest money deposit. Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? Deductions of hazard insurance expense on a principal residence. Main Menu We work to advance government policies that protect consumers and promote competition. Which brokerage relationship is BEST suited to this couple? Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Brad Dye's Paging Information Resource What is the final step in the real estate sale process? D) Real estate licensees are exempt from the telemarketing laws. Special Information Booklet (HUD) Municipal Airport - immune properties are city, county, state and federal gov't properties - others are exempt only, which are subject to taxes, but are released from obligation, Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). Residential leases are usually gross leases. Which statement is TRUE regarding the key rings? A person who rents lots in a mobile home park. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. 227. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest - page 153). Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). The Florida Consumer Protection Law is located at Fla. Stat. Final Exam Flashcards | Chegg.com Which statement is TRUE regarding the federal telemarketing law? required by Florida law to verify that license applicants are current on child support payments. 3. (PDF) American Ways American Ways A Guide for Foreigners in the United The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. Which statement is TRUE regarding Florida's telemarketing law? The tenant has what type of lease? An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex B), Washington, DC 20580. Ann. A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. Before sharing sensitive information, make sure youre on a federal government site. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). A person who rents lots in a mobile home park. The associate continues to be employed by the same broker, who has an office in Atlanta. In 1991, Congress adopted the Telephone Consumer Protection Act (TCPA) to restrict the use of automatic telephone dialing systems and artificial or prerecorded voice messages (robocalls). The developer sold the lots for $250 per front foot. A written contract for sale and purchase of commercial property that used designated sales associates failed to close. Lina M. Khan was sworn in as Chair of the Federal Trade Commission on June 15, 2021. All national chartered commercial banks are members of which entity? B. call Sue for up to 18 months after she purchases a property through the brokerage firm C. call Sue if she has placed a "for sale" sign in the yard Savings associations can sell existing mortgage loans to which entity? Using the lump-sum age-life method, find the depreciated value of the building. (2) Training of personnel engaged in telemarketing. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. deliver the deposit check to the employer by the end of business on Thursday. A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. A building is valued at $135,000 with an estimated 25-year useful economic life. 640/4/4/2 = 20 The building has an effective age of five years. Homestead protection does not prevent foreclosure for nonpayment of property taxes, special assessments, mortgages, vendors' liens, or construction liens secured with homestead property. (1) by the person or entity providing a wire or electronic communications service; (2) by a user of that service with respect to a communication of or intended for that user; or (3) in section 2703, 2704 or 2518 of this title. Stephanie T. Nguyen, Chief Technology Officer, Competition and Consumer Protection Guidance Documents, HSR threshold adjustments and reportability for 2023, A Century of Technological Evolution at the Federal Trade Commission, National Consumer Protection Week 2023 Begins Sunday, March 5, FTC at the 65th Annual Heard Museum Guild Indian Fair & Market - NCPW 2023, Franchises, Business Opportunities, and Investments, https://www.federalregister.gov/regulations/3084-AA98/telemarketing-sales-rule, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Updating Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule Fee; Final Rule That Updates Fees Charged To Entities Accessing the National Do Not Call Registry, Agency Information Collection Activities; Submission for OMB Review; Comment Request; Notice (Telemarketing Sales Rule), Telemarketing Sales Rule Information Collection Activities; Proposed Collection; Comment Request, 16 CFR Part 310: Telemarketing Sales Rule: Final Rule Amendments: Federal Register Notice Containing the Final Telemarketing Sales Rule Amendments and the Statement of Basis and Purpose, 16 CFR Part 310: Telemarketing Sales Rule Fees; Notice Advising That There Will BE No Fee Increase for Accessing the National Do Not Call Registry for Fiscal Year 2016, 16 CFR Part 310: Telemarketing Sales Rule; Extension of Comment Period for Rule Review to November 13, 2014, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule Amending TSR Fees Charged to Entities Accessing the National Do-Not-Call Registry, as Required by the Do-Not-Call Registry Fee Extension Act of 2007, 16 CFR Part 310: Telemarketing Sales Rule Federal Register Notice: Rule Review Request for Public Comments as Part of the FTCs Systematic Regulatory Review, Modified Ten-Year Regulatory Review Schedule; Notice of Intent to Request Public Comments, 16 CFR Part 310: Telemarketing Sales Rule; Notification of Termination of Caller ID Rulemaking Federal Register Notice, 16 C.F.R. B) the creation of a uniform, statewide energy-efficiency rating system. In addition, truth-in-advertising standards apply if .
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