What is the primary thrust of federal involvement in real estate law? a. Fannie Mae and Freddie Mac when purchasing residential mortgages. Which of the following is NOT prohibited under the anit trust laws?
What’s the primary purpose of the federal Fair Housing Act?
The Fair Housing Act prohibits discrimination in the sale, rental, and financing of housing based on race, color, national origin, religion, sex, familial status, and disability. The act has two main purposes—prevent discrimination and reverse housing segregation.
Which of these is the primary regulatory entity in the business of real estate?
State regulation State governments are the primary regulatory entities of the real estate business. State governments establish real estate license laws and qualifications.
What is the general thrust of the federal fair housing laws?
1. Fair Housing Act Enforcement Overview The thrust of the Fair Housing Act is found in the provisions making it unlawful to deny, or otherwise make unavailable, a dwelling because of race, color, religion, sex, familial status, national origin, or disability.
Which of the following agencies is are responsible for enforcement of the federal fair housing laws?
The Department of Fair Employment and Housing (DFEH) is the local agency responsible for enforcing California state fair housing laws. The primary state fair housing laws are FEHA and the Unruh Act.
Which of the following is permitted under federal fair housing laws?
The Fair Housing Act is a federal law enacted in 1968 that prohibits discrimination in the purchase, sale, rental, or financing of housing—private or public—based on race, skin color, sex, nationality, or religion. The statute has been amended several times, including in 1988 to add disability and family status.
What is Mrs Murphy exemption?
“Mrs. Murphy’s exemption”: If the dwelling has four or less units and the owner lives in one of the units, it is exempt from the Fair Housing Act in most states – it does not apply in Ohio because the State of Ohio Fair Housing Act overrides federal law in this case and disallows the exemption.
What do government entities regulate real estate quizlet?
Federal government regulations control the broad standards of real property usage, natural disaster, land description, and discrimination.
What is the primary purpose of real estate licensing laws?
These laws define the legal relationship between licensees and the parties to a real estate transaction. They also serve to provide each with a clear understanding of the duties that the real estate licensee will be expected to perform in the transaction.
What is an example of a federal law in real estate?
The Federal Fair Housing Act prohibits discrimination in real estate transactions on account of race, color, religion, sex,or national origin. See 42 U.S.C. §§ 3601-3631. Real estate brokers are specifically prohibited from discriminating by the act.
Which of these are exempt from the federal Fair Housing Act?
The Fair Housing Act covers most housing. In very limited circumstances, the Act exempts owner-occupied buildings with no more than four units, single-family houses sold or rented by the owner without the use of an agent, and housing operated by religious organizations and private clubs that limit occupancy to members.
Which action is not prohibited by the federal Fair Housing Act?
The California statute prohibits discrimination on the basis of sexual orientation, medical condition, and source of income, none of which are prohibited by federal law.
What is redlining in real estate?
In the United States, redlining is a discriminatory practice in which services (financial and otherwise) are withheld from potential customers who reside in neighborhoods classified as ‘hazardous’ to investment; these residents largely belong to racial and ethnic minorities.
What does blockbusting mean in real estate?
Blockbusting refers to the practice of introducing African American homeowners into previously all white neighborhoods in order to spark rapid white flight and housing price decline. Real estate speculators have historically used this technique to profit from prejudice-driven market instability.
What is covered under the FHA?
The FHA prohibits discrimination on the basis of “race, color, religion, sex, handicap, familial status, or national origin….” In general, the FHA applies broadly to all sorts of housing, public and private, including single family homes, apartments, condominiums, mobile homes, and others.
What are HUD violations?
Housing providers who refuse to rent or sell homes to people based on race, color, national origin, religion, sex, familial status, or disability are violating federal law, and HUD will vigorously pursue enforcement actions against them.