ARELLO is an international association that supports regulatory agencies in managing real estate licenses, creating consistent practices, and offering guidance on policy development.
Density zoning refers to laws that regulate the number of structures or occupants permitted per unit of land area, aiming to control land use intensity, promote sustainable development, and manage population density.
A federal law enacted in 1989 aimed at restructuring the regulatory framework for savings and loan associations, improving deposit insurance, and addressing systemic issues within the financial sector to mitigate the impact of future crises.
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.
A Pocket Card is required for salespersons and brokers in most states. Issued by the state licensing agency, it identifies its holder as a licensee and must be carried at all times.
A Property Report is a mandatory document for the sale of subdivisions of 50 lots or more, as required by the Interstate Land Sales Full Disclosure Act (ILSA). This report must be filed with the Office of Interstate Land Sales Registration (OILSR) under the U.S. Department of Housing and Urban Development (HUD).
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.
Regulation Z, also known as the Truth in Lending Act (TILA), requires creditors to provide full disclosure of the terms of a loan, including the interest rate as an Annual Percentage Rate (APR). This regulation is compulsory for anyone who arranges credit for more than five sales of residential real estate in a year.
