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California's Real Estate Regulations Of Broker Supervision
Broker Supervision A broker shall exercise reasonable supervision over the activities of his or her salespersons. Reasonable supervision includes, as appropriate, the establishment of policies, rules, procedures and systems to review, oversee, inspect and manage:
(a) Transactions requiring a real estate license. (b) Documents which may have a material effect upon the rights or obligations of a party to the transaction. (c) Filing, storage and maintenance of such documents. (d) The handling of trust funds. (e) Advertising of any service for which a license is required. (f) Familiarizing salespersons with the requirements of federal and state laws relating to the prohibition of discrimination. (g) Regular and consistent reports of licensed activities of salespersons.
The form and extent of such policies, rules, procedures and systems shall take into consideration the number of salespersons employed and the number and location of branch offices. A broker shall establish a system for monitoring compliance with such policies, rules, procedures and systems. A broker may use the services of brokers and salespersons to assist in administering the provisions of this section so long as the broker does not relinquish overall responsibility for supervision of the acts of salespersons licensed to the broker.
A Rehabilitation mortgage is a mortgage that covers the costs of repairing or improving
Rehabilitation mortgage is a mortgage that covers the costs of rehabilitating (repairing or Improving) a property; some rehabilitation mortgages - like the FHA's 203(k) - allow a borrower to roll the costs of rehabilitation and home purchase into one mortgage loan.
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News about real estate cases in Pennsylvania and nationwide:
Definition:
A federally assisted project is one which receives Federal reimbursement or payment of some project expenses such as planning, construction, right-of-way acquisition, and property management.
Certificate of title
Definition:
A document provided by a qualified source (such as a title company) that shows the property legally belongs to the current owner; before the title is transferred at closing, it should be clear and free of all liens or other claims.
PMI
Definition:
Private Mortgage Insurance; privately-owned companies that offer standard and special affordable mortgage insurance programs for qualified borrowers with down payments of less than 20% of a purchase price.
If you live in the following cities and need an real estate attorney you should contact
our Real Estate Attorney as soon as possible:
Aliquippa
Allentown
Bensalem
Bethlehem
Butler
Carlisle
Chambersburg
Chester
Coatesville
Coraopolis
Downingtown
Doylestown
East Stroudsburg
Easton
Greensburg
Hanover
Havertown
Hazleton
Irwin
Lancaster
Lansdale
Lebanon
Lititz
Media
Morrisville
New Castle
New Kensington
Norristown
Philadelphia
Pittsburgh
Pottstown
Southampton
State College
Uniontown
Upper Darby
Warminster
Washington
West Chester
Wilkes Barre
Williamsport
York
Legal Disclaimers All attorney listings are a paid attorney advertisement, and do not in any way constitute a referral or endorsement by an approved or authorized lawyer referral service. The information provided on Pennsylvania Real Estate Lawyers.com is not intended to be real estate advice, but merely conveys
general information related to real estate issues commonly encountered.
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