Florida Real Estate: Chapter 7: Federal and State Laws Pertaining to

Florida Real Estate: Chapter 7: Federal and State Laws Pertaining to Real Estate Landlords must give reasonable notice before entering a tenant's apartment, except in emergencies.A. TrueB. False

• TrueThe statement is true. If the rent is current and the

tenant notifies the landlord of an intended absence, the landlord may not enter the premises during the period of absence, except with the tenant's consent or in an emergency.Which entity does NOT help enforce the Fair Housing Act?A. Department of Housing and Urban DevelopmentB.Fannie MaeC. State fair housing enforcement agenciesD.Department of Justice

• Fannie MaeThe answer is Fannie Mae. Fair housing

laws are enforced by the Department of Housing and Urban Development (HUD), the Department of Justice (DOJ), state and local fair housing enforcement agencies, and through private lawsuits in federal and state courts.Fair Housing Act-An act contained in Title VIII of the Civil Rights Act of 1968 that created protected classes of people and prohibits discrimination when selling or renting residential property when based on race, color, religion, sex, national origin, familial status, or handicap status.The ADA's definition of public accommodation does NOT include aA. private home.B. hotel.C. shopping center.D.restaurant.

• private home.The answer is a private home. Public

accommodations are facilities open to the public, including sales and rental establishments, hotels, restaurants, and shopping centers.The Fair Housing Act recommends the use of an equal opportunity poster that features the equal housing logo and a statement that pledges adherence to the Fair Housing Act.A. TrueB. False

• FalseThe statement is false. The Act requires, not

recommends, the use of an equal opportunity poster featuring the equal housing logo and a statement that pledges adherence to the Fair Housing Act.Handicap Status-A protected class as defined in the Fair Housing Act and the Americans with Disabilities Act consisting of a physical or mental impairment that substantially limits one or more major life activities From which source can a broker obtain a copy of the equal housing opportunity poster for a new real estate office?A.Council on Fair Housing AdministrationB. Florida Realtors®C. Department of Housing and Urban DevelopmentD. Department of Business and Professional Regulation

• Department of Housing and Urban DevelopmentThe

answer is Department of Housing and Urban Development.The equal housing opportunity poster is available from the Department of Housing and Urban Development.A real estate broker who has been hired to manage an apartment complex on behalf of the landlord must place the advance rent and security deposits into the broker's escrow account.A. TrueB. False

• TrueThe statement is true. Real estate brokers must

abide by Chapter 475, F.S., with regard to handling deposits and advance rent. The deposits and advance rents are trust funds and, as such, must be deposited into the broker's escrow account by the end of the third business day after receipt of the trust funds.

Land developers are NOT permitted to sell or lease lots in subdivisions of 100 or more lots unless they have registered the subdivision with the Consumer Financial Protection Bureau.A. TrueB. False

• TrueThe statement is true. Before selling or leasing lots

in subdivisions of 100 or more lots, developers first need to register the subdivision with the Consumer Financial Protection Bureau.Landlords of five or more units may verbally inform tenants of how tenant security deposits will be held at the time the deposits are paid to the landlord.A. TrueB. False

• FalseThe statement is false. Landlords of five or more

units must give tenants written notice of the advance rent or security deposit either in the lease agreement or within 30 days after receipt of advance rent or security deposit.Familial Status-A protected class as defined in the Fair Housing Act, consisting of one or more individuals under age 18 living with a parent or legal guardian and pregnant women.Under which circumstance is a landlord relieved from the requirement to place security deposits into a special rental account?A. Landlord files a statement of record with Florida Department of Business and Professional Regulation.B.Landlord posts a surety bond with the clerk of the circuit court.C. Landlord posts a financial assets statement with the Securities and Exchange Commission.D. Landlord has assets in excess of $1 million.

• Landlord posts a surety bond with the clerk of the circuit

court.The answer is landlord posts a surety bond with the clerk of the circuit court. If the landlord posts a surety bond with the clerk of the circuit court in the county where the rental property is located, the landlord is not obligated to place the funds into a special account. The bond must be for the total amount of the security deposits and advance rents or $50,000, whichever is less. When posting a surety bond, the landlord must pay the tenant 5% per year simple interest.ADA is a federal statute that protects the employment rights of persons with physical (but not mental) disabilities.A. TrueB. False

• FalseThe statement is false. The ADA is a federal

statute that protects employment and accessibility rights of individuals with mental and physical disabilities.A licensed sales associate collects rent from a tenant. The sales associate mustA. deliver the rental money to the employing broker by the end of the next business day.B.deposit the rental money in the sale's associate's business account.C. deliver the rental money to the landlord and give the tenant a deposit receipt within 24 hours.D. deliver the rental money to the landlord within three business days.

• deliver the rental money to the employing broker by the

end of the next business day.The answer is deliver the rental money to the employing broker by the end of the next business day. Sales associates who collect rent or deposits from a tenant must deliver the funds to their broker-employer no later than the end of the next business day.Public Accommodations-Private entities that own, lease, lease to, or operate facilities such as restaurants, retail stores, hotels, movie theaters, private schools, convention centers, doctors' offices, homeless shelters, transportation depots, zoos, funeral homes, day care centers, and recreation facilities, including sports stadiums and fitness clubs.Under ILSA, developers of 25 or more lots must provide buyers withA. proof of registration with the Bureau of Consumer Financial Protection.B. a disclosure regarding the right to cancel the contract within 14 days after signing the contract.C. a property report.D. the developer's financial statement.

• a property report.The answer is a property report.

Developers of 25 or more lots must provide buyers with a property report before signing the sale contract.ADA requirements apply to a real estate brokerage office located in a private residence.A. TrueB. False

• TrueThe statement is true. ADA requirements apply to

private entities that own, lease, or operate commercial

facilities, including real estate brokerage offices, even if the broker's office is located in a private residence.

The Fair Housing Act provides protection from discrimination to individuals based on age.A. TrueB. False

• FalseThe statement is false. No protection is given

under the Fair Housing Act to individuals based on age, occupation, marital status, or sexual orientation.Which housing is exempt from the familial status protection under the Fair Housing Act?A. All the units are occupied by persons older than age 18.B. At least 80% of the units are occupied by one or more persons 55 years of age or older.C. At least 75% of the units are occupied by one or more persons 50 years of age or older.D. All units are occupied by persons 60 years of age or older.

• At least 80% of the units are occupied by one or more

persons 55 years of age or older.The answer is at least 80% of the units are occupied by one or more persons 55 years of age or older. Certain housing for older persons is exempt from the familial status protection under the Fair Housing Act, provided all the units are occupied by persons 62 years of age or older, or at least 80% of the units are occupied by one or more persons 55 years of age or older.The Civil Rights Act of 1866 prohibits discrimination on the basis of race in residential and commercial real estate.A.TrueB. False

• TrueThe statement is true. The Civil Rights Act of 1866

prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception.Which property is exempt from Title VIII of the Civil Rights Act of 1968?A. Multifamily dwelling of five or more unitsB.Privately owned residential property offered for sale or lease through a real estate licenseeC. Three-unit dwelling in which the owner resides in one of the unitsD.Government-owned residential property

• Three-unit dwelling in which the owner resides in one of

the unitsThe answer is three-unit dwelling in which the owner resides in one of the units. Title VIII of the Civil Rights Act (Fair Housing Act) exempts rentals in multifamily dwellings with four or fewer family units, provided the owner lives in one of the units. In this case, there are three units, and the owner resides in one of the units.Remember, however, that racial discrimination is illegal in any real estate transaction under federal law.A property owner owns a four-unit multifamily dwelling. The owner lives in one of the units. The owner advertises a vacant unit for rent, stating that no children are allowed because the existing residents are all couples with no children. This transaction is exempt from the Fair Housing Act.A. TrueB. False

• FalseThe statement is false. The rental transaction

would be exempt from the Fair Housing Act, provided the owner did not use discriminatory advertising to market the unit. Advertising that no children are allowed is discriminatory advertising against a protected class (familial status).All developers must provide buyers with a property report.A. TrueB. False

• FalseThe statement is false. Developers of 25 or more

lots must provide buyers with a property report.The Fair Housing Amendments Act of 1988 added which protected class to the Fair Housing Act?A. ReligionB.National originC. Handicap statusD. Sex

• Handicap statusThe answer is handicap status. In 1988,

Congress amended the Fair Housing Act of 1968 to include

two additional protected classes: familial status and

handicap status.The Interstate Land Sales Full Disclosure Act allows a 10-day period to cancel the sale agreement for prospective purchasers who receive the property report before signing the purchase agreement.A. TrueB. False

• FalseThe statement is false. Purchasers who timely

receive the property report may cancel the contract anytime before midnight of the seventh day after signing the contract.Which statement is TRUE regarding a racial discrimination case involving commercial real estate?A. The Civil Rights Act of 1968, which replaced the 1866 Civil Rights Act, does not protect against racial discrimination in nonresidential transactions.B. Racial discrimination in commercial transactions is not protected under the law because the