Not exact matches
(B) «Credit repair services organization»
does not include: (i) Any person authorized to make loans or extensions of credit under the
laws of this state or the United States who is subject to regulation and supervision by this state or the United States; (ii) Any bank or savings and loan institution whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation; (iii) Any nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986; (iv) Any person
licensed as a real
estate broker by this state if the person is acting within the course and scope of that
license; (v) Any person
licensed to practice
law in this state if the person renders services within the course and scope of his or her practice as an attorney; (vi) Any broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission if the broker - dealer is acting within the course and scope of those regulatory agencies; or (vii) Any consumer reporting agency as defined in the federal Fair Credit Reporting Act (15 U.S.C. 1681 - 1681t).
(1) The following shall be exempt from the Credit Services Organization Act: (a) A person authorized to make loans or extensions of credit under the
laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.; (b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association; (c) A credit union
doing business in this state; (d) A nonprofit organization exempt from taxation under section 501 (c)(3) of the Internal Revenue Code; (e) A person
licensed as a real
estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 -
estate broker or salesperson under the Nebraska Real
Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 -
Estate License Act acting within the course and scope of that license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69
License Act acting within the course and scope of that
license; (f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69
license; (f) A person
licensed to practice
law in this state acting within the course and scope of the person's practice as an attorney; (g) A broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (h) A consumer reporting agency; (i) A person whose primary business is making loans secured by liens on real property; (j) A person, firm, corporation, or association
licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that
license or certificate; and (k) A person licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69
license or certificate; and (k) A person
licensed to engage in the business of debt management pursuant to sections 69 - 1201 to 69 - 1217.
«Credit Services Organization»
does not include any of the following: (i) a person authorized to make loans or extensions of credit under the
laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union
doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization
does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person
licensed as a real
estate broker by this state if the person is acting within the course and scope of that
license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act o
license; (vi) a person
licensed to practice
law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly
licensed under the Illinois Residential Mortgage
License Act o
License Act of 1987.
It's unlikely, however, that if someone were to advertise that employment discrimination issues or
estate planning could be
done by nonlawyer «equal professionals» who would recruit a «team lawyer» to represent the nonlawyer's client, attorney
licensing regulators and UPL committes would not immediately recognize and respond to the unlicensed practice of
law, the facilitating by lawyers of the unlicensed practice of
law, and the advertising free - for - all that («appearance of impropriety») implies multiple other possible ethical violations.
The real issue here is the DOC's definition of «unlicensed activity,» and that they consider «marketing properties you
do not own without a real
estate license» a violation of Ohio real
estate licensing laws.
Real
estate sales, management,
laws, information, rules,
licensing, governance and all the rest of it could change so much that we will look back on today and think of it as the wild west of real
estate operations, when everybody was
doing things by the seat of their pants with no
licensing.
The Texas
law does provide numerous exceptions, including the use of drones by «a Texas
licensed real
estate broker in connection with the marketing, sale, or financing of real property.»
In any case, says MacKenzie, even if their clients don't fill out the form, real
estate practitioners, if they know of defects, remain obliged under state
licensing law to let buyers know of them.
While new agents are educated on the national and local
laws related to real
estate through their mandatory
licensing process, being successful on paper
does not translate to real - life experience.
The court
did not raise a more basic point, namely that under the real
estate licensing laws of every state, a real
estate salesperson has no authority to act independently of his broker.
According to the case
law as of the date of this article, a provision in a real
estate contract that requires a seller to deliver at closing a report from a
licensed pest control company showing the property free of termites
does not require a seller to repair termite damage.
287
DOS 98 Matter of
DOS v. Uqdah Realty & Management Corp. — deposits; jurisdiction; fraudulent practices; failure to pay judgment; vicarious liability; notary public; disclosure of agency relationship; broker violated 19 NYCRR 175.1 when he deposited escrow funds into his operating account; broker committed conversion when his operating account fell below deposit amount; broker engaged in fraudulent practices when he illegally retained buyer's trust funds and attempted to qualify prospective buyer for mortgage by falsely stating their employment; broker failed to disclose his agency relationship to his client; failure to pay judgment; corporate real
estate broker vicariously liable and charged with actual knowledge of violation of
law because of representative broker's cognizant misconduct as corporate officer; broker is not required to deposit a refundable commission in an escrow account unless contractually demanded; corporate broker and representative broker's
license revoked; restitution of deposit of $ 12,000 plus interest; notary public commission revoked based on misconduct as a real
estate licensee
A: We are professional property managers that have active Florida Real
Estate licenses which is required by
law to lease but we
do NOT sell property.
730
DOS 02
DOS v. New World Realty of New York, Inc. — availing of
license; deposits; disclosure of agency relationships; duty to supervise sales associates; failure to pay judgment; proper business practices;
DOS has jurisdiction where disciplinary action was started while individual was
licensed as an associate broker and was eligible to automatically renew at the time of the disciplinary hearing; salesperson owned voting stock in
licensed corporate real
estate broker, failed to pay judgment and failed to present evidence of inability to
do so, and engaged in unlicensed activity after
license expired; representative broker availed corporate real
estate brokers
license to salesperson; representative broker failed to properly supervise salesperson by permitting and authorizing salesperson to act as a real
estate broker; broker and salesperson failed to make agency disclosures and failed to deposit funds of principal in a special bank account; real
estate transaction conducted was a fraudulent business practice;
DOS fails to prove the unauthorized practice of
law; salesperson's
license revoked and salesperson ordered to pay refund of $ 1,406.00 of illegal commission collected; representative broker's
license revoked and broker ordered to refund $ 74.00 of illegal commission collected; representative broker fined $ 5,000.00
Nebraska
law does not require the use of a
licensed real
estate broker for the sale or lease of real
estate by the owner of the property, but we
do recommend that you consult with or utilize the services of a
licensed real
estate broker or salesperson to facilitates the sale or an attorney for legal advice if you have questions or are uncertain about the process.
Last Update: 02/22/16 Florida
law requires that all real
estate brokers and real
estate agents not only get
licensed by the State of Florida in order to
do business here, but that they keep up those
licenses with through continuing education.
(2) Subsection (1)
does not prohibit a brokerage from paying remuneration to a person who is
licensed or otherwise authorized, under the
laws of a jurisdiction other than British Columbia, to provide equivalent real
estate services in the other jurisdiction.
Buyers Brokers Only, LLC is not a
law firm, and, although all Buyers Brokers Only, LLC real
estate brokers are
licensed attorneys, the real
estate brokers
do not provide any legal advice to their clients.
If a person acting as a Florida real
estate agent or broker agrees to sell, or even goes so far as to negotiate the sale of your home or condo, but didn't bother to get or keep up a valid Florida real
estate license, then that contract to pay a commission to that party is considered void under Florida
law.
79
DOS 99 Matter of
DOS v. Pagano - disclosure of agency relationships; failure to appear at hearing; proper business practices; unauthorized practice of
law; unearned commissions; vicarious liability; fraudulent practice; jurisdiction; ex parte hearing may proceed upon proof of proper service;
DOS has jurisdiction after expiration of respondents»
licenses as acts of misconduct occurred and the proceedings were commenced while the respondents were
licensed; licensee fails to timely provide seller client with agency disclosure form prior to entering into listing agreement and fails to timely provide agency disclosure form to buyer upon first substantive contact; broker fails to make it clear for which party he is acting; broker violates 19 NYCRR 175.24 by using exclusive right to sell listing agreement without mandatory definitions of «exclusive right to sell» and «exclusive agency»; broker breaches fiduciary duties to seller clients by misleading them as to buyer's ability to financially consummate the transaction; broker breaches his fiduciary duty to seller by referring seller to the attorney who represented the buyers when he knew or should have known such attorney could not properly protect seller's interests; improper for broker to use listing agreements providing for broker to retain one half of any deposit if forfeited by buyer as such forfeiture clause could, by its terms, allow broker to retain part of the deposit when broker
did not earn a commission; broker must conduct business under name as it appears on
license; broker engaged in the unauthorized practice of
law in preparing contracts for purchase and sale of real
estate which
did not contain a clause making it subject to the approval of the parties» attorneys and were not a form recommended by a joint bar / real
estate board committee; broker demonstrated untrustworthiness and incompetency in using sales contract which purported to change the terms of the listing agreement to include a higher commission; broker demonstrated untrustworthiness and incompetency in using contracts of sale which were unclear, ambiguous, vague and incomplete; broker failed to amend purchase agreement to reflect amendment to increase deposit amount; broker demonstrated untrustworthiness in back - dating purchase agreements; broker demonstrated untrustworthiness in participating in scheme to have seller hold undisclosed second mortgage and to mislead first mortgagee about the purchaser's financial ability to purchase; broker demonstrated untrustworthiness by claiming unearned commission and filing affidavit of entitlement for unearned commission;
DOS fails to establish by substantial evidence that respondent acted as undisclosed dual agent; corporate broker bound by the knowledge acquired by and is responsible for acts committed by its licensees within the actual or apparent scope of their authority; corporate and individual brokers»
licenses revoked, no action taken on application for renewal until proof of payment of sum of $ 2,000.00 plus interests for deposits unlawfully retained
00 (95
DOS 00) Peattie v.
DOS -
DOS determination to require salesperson to pay restitution to non-party complainants and retain
license is reversed in part and modified; engaging in regulated real
estate brokerage business in an unlicensed name and at an unlicensed business address; operation of business and business procedures designed to circumvent
licensing law in the name of a «consulting business»; salesperson allowed toretain payment of fees for unregulated activity and required to disgorge fees for regulated services; all
licenses revoked until such time as restitution is paid
Jesse — My understanding of Oregon
law is that if you're a
licensed agent
doing any real
estate activity, whether it includes a «personal interest» or not, you can only get paid through your principal broker.
Florida
law says that you can NOT handle short sales in Florida unless you are a
licensed real
estate agent, a
licensed loan originator or an attorney!!!! So this SHORT SALE company is illegally handling this seller's short sale who
did not know any of this.
Dozens of states and the federal government have
laws on the books regulating how you supervise your team, how you pay them, and what they can and can not
do based on whether they hold a real
estate license.
The court looked to the relevant Connecticut
licensing statutes and determined that according to Connecticut
law, «competent real
estate brokers who are duly
licensed and currently practicing in other states with
licensing requirements and reciprocity provisions similar to Connecticut's will be given preferential treatment in obtaining their Connecticut
licenses... an out - of - state broker may not simply come into Connecticut and
do business as a real
estate broker under the putative authority of his valid out - of - state broker's
license.»
Next, the Association filed a lawsuit seeking a judicial declaration that the Banking Department
did not have jurisdiction to consider whether an entity
licensed by the Banking Department had violated the state's real
estate license laws.
(Remember: state
laws require that you have an active real
estate license before you can advertise in any way; even verbally misrepresenting yourself as holding an active real
estate license able to
do any kind of deal or referral, when you
do not, is also a felony.)