Real Estate Settlement Procedures Act (RESPA): Federal law that requires lenders to disclose certain information about real estate transactions and prohibits certain practices like kickbacks. Essential for ensuring transparency in settlement services.
Truth in Lending Act (TILA): Federal regulation requiring clear disclosure of lending terms and costs in real estate transactions, protecting consumers in credit transactions.
Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability.
Equal Credit Opportunity Act: Federal law ensuring equal access to credit and preventing discrimination in lending practices related to real estate transactions.
State Real Estate Laws: State-specific regulations governing real estate transactions, including contract requirements, disclosures, and licensing requirements for real estate professionals.
Local Ordinances: County and municipal regulations affecting real estate transactions, including zoning laws, transfer taxes, and local property requirements.
Statute of Frauds: Legal principle requiring real estate contracts to be in writing to be enforceable, including specific terms and signatures of involved parties.
State Board of Realtors Guidelines: Professional standards and requirements set by state real estate boards, including standard forms, practices, and transaction timing requirements.
Consumer Protection Laws: State and federal regulations protecting consumers in real estate transactions from unfair practices, including specific state statutes and deceptive practices regulations.
