RESPA: Real Estate Settlement Procedures Act - Federal law governing real estate transactions and prohibiting kickbacks or referral fees in real estate settlements
TILA: Truth in Lending Act - Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed
Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, disability, or familial status
Securities Exchange Act: Federal law from 1934 governing securities transactions and broker-dealer requirements if dealing with securities-based transactions
Anti-Kickback Provisions: Legal provisions prohibiting the giving or receiving of fees, kickbacks, or things of value in exchange for referrals of settlement service business
State Real Estate Commission Regulations: State-specific rules governing real estate transactions, broker conduct, and licensing requirements varying by jurisdiction
State Licensing Requirements: Specific state mandates for obtaining and maintaining broker licenses, including education and testing requirements
State Contract Laws: State-specific regulations governing contract formation, enforcement, and interpretation
NAR Code of Ethics: Professional standards and ethical guidelines established by the National Association of REALTORSยฎ for member conduct
Statute of Frauds: Legal requirement that certain contracts, including real estate agreements, must be in writing to be enforceable
IRS Classifications: Federal tax regulations determining whether a broker is classified as an independent contractor or employee
Consumer Protection Laws: State and federal regulations protecting consumers from unfair practices, including disclosure requirements and prohibited practices in real estate transactions
