Caveat Subscriptor is a legal doctrine stating 'let the seller beware,' which holds sellers liable for goods found to be defective post-sale unless sold 'as is.'
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a sweeping legislative overhaul signed into law in 2010 to address the financial crisis of 2007-2010. It aims to improve financial stability and protect consumers by regulating financial institutions more rigorously.
False advertising in real estate involves representing a property in a misleading or deceitful manner, resulting in potential buyers or renters making decisions based on inaccurate information.
The Federal Trade Commission (FTC) is an independent agency of the United States government established in 1914, aimed at promoting consumer protection and eliminating and preventing anticompetitive business practices.
The Interstate Land Sales Full Disclosure Act (ILSA) protects consumers from fraud and abuse in the sale or lease of land across state lines by requiring developers to register subdivisions of 100 or more non-exempt lots with the Department of Housing and Urban Development (HUD) and provide prospective buyers with a property report.
License laws govern the activities of real estate salespersons to ensure that transactions are conducted fairly, ethically, and legally, thereby protecting consumers and maintaining integrity in the marketplace.
The Office of Interstate Land Sales Registration (OILSR) supervises the regulation and oversight of interstate land sales, ensuring compliance with body legal requirements and protecting consumers from fraudulent practices. The OILSR helps maintain transparency and accountability in interstate land transactions.
The Real Estate Settlement Procedures Act (RESPA) is a federal law intended to provide greater transparency and knowledge to consumers about real estate transactions. It stipulates how mortgage lenders must treat applicants for federally-related real estate loans on properties containing 1–4 dwelling units. RESPA aims to eliminate unnecessary fees and ensure borrowers receive pertinent information to facilitate informed comparison shopping.
The Real Estate Settlement Procedures Act (RESPA) ensures that residential mortgage borrowers receive timely and accurate disclosures about the costs involving settlement procedures and protects them from unnecessarily high settlement charges caused by certain abusive practices.
The Recovery Fund is generally administered by Real Estate Commissions and requires licensees to contribute. It reimburses aggrieved persons who are unable to collect from brokers for wrongdoings.
The Truth-in-Lending Act (TILA) is a federal law designed to promote fairness and clarity in credit and lending practices. It requires lenders to disclose clear and standardized information about the terms and costs of loans to protect consumers.
