property law wednesday night

puffing
duties to other brokers
cooperate with other brokers
http://www.realestateabc.com/homeselling/listingtypes.htm

prospective buyer
share
commission
most brokers willing to do
broker
sales people
subagents
broker
coop subagent
brokers generally liable for misconduct
liable for coop brokers
no
liable for sales person duty to train but the coop
broker said that the listing broker not liable for the coop subagent

is principle liable
coop broker representing the seller
main reason for this was

indemnified by your listing broker
buyer cant deduct till sell house
brokers can sell

if i represent you then seller subagent
so paying to work against

unintended dual agency
federal law
income tax

bottom line is
dont want to rock the boat

listing v. coop
multiple listing services are provided before boards

narrow it down to
exclusive right to sell
open listing

violation of anti-trust law
as it applies to real estate broker

justice dept
has an antitrust division
enforce sherman anti-trust act
significant RE application

forbids price fixing
compensation for the broker is negotioble
if they say its not neg. that is price fixing

as a prospective principle if they say it is non-neg
tell them sherman antitrust says its neg

to carve up the marketplace and market allocation turf wise
sometimes the local brokers within a local broker board

broker from glendale
show properties and not cooperate out of town---violation of the anti-trust act

tie-in agreements
automobile manufacturers are notorious for this---a tying arrangement---you have to buy related parts---also illegal

california has its own anti-trust
clayton act
CA law prohibits agmt restircting trade
our economic system for competition fair market

have to get approval from the anti-trust dept
notoriously hard to win and lengthy
ten years
anti-trust laws often have the punitive provision
treble damages
do we wnt to take a chance getting sued by the antitrust dept.
finders fees before
to licensees
to non-licensees
atty's that pay finders fee
x$
for z$
not illegal in california

federal law outlaw finders fee---old days---
barber says gee you must be new
as soon as the barber says
stepped over the line
tax advantages
nevertheless
requires a language
customer kick back
negotiating a lease whether or not the court remanded it
does an atty need a license
to neg a contract as a business atty---not disclosure agreement an atty acting as atty doesnt need a RE license
probate atty can negotiate sale without needing a RE license
then need a license if not within the scope of duty

within the scope of duty---more on RE licenses later
sales license:
re principle
practice
prop law

broker:
eight courses under CA law
2 yrs exp

any other Q.
ch 4
civil rts act of 1968
DRE website
entity within CA dept of RE resp for licensing brokers
disciplinary hearings

headed by appointee of governor
california real estate commissioner
not only enforces real estate law in CA
make sure buyers and sellers are protected
supposedly the commisioners job commissioner
affording maximum

net listings in CA
non licensees
finders fees

the real estate commissioner
other duties
five or more lots

our focus is on the licensing
atty gen of CA appointed position
acts as an advisor for the legal commissioner

authority to issue injunctions
law
re hurt by unscrupulous licenseee
criminal law
is done by a rep of the people in the state of california
has investigators on the payroll thru the state
these investigators interview other buyers sellers brokers after the investigation determined if there will be a hearing
turned over to the appropriate district atty.
rep for the state of california
in other matters

in order for the licensees
to be
even though an administrative process
due process of law
diff with crime

more and less due process
http://en.wikipedia.org/wiki/Due_process

minimum before the applicant can
be a year maybe forever

administrative law
proceedings
ALJ for office of administrative law hearings
similar to court crowds burden of proof

conduct these
represent these hearings
burden of proof in admin hearing
convincing proof to a reasonable certainty
grounds for disciplinary action .  ..

highest beyond a reasonable doubt
dept of real estate
not a preponderance
so clear and convincing is the burden of proof

the respondent licensee who is being charged with a part of violation of the law
in a criminal case if you cannot afford an atty
state is not going to pay for it
licensee violation case will not go to court in a year
must file notice within 15b days

1st break!!!!!!!!!!!

land sales contract

syndicate no real def in CA law
could mean REIT
real estate investment trust
corporation
limited partnership

sell all one hundred
along promisary notes finance

general principle
gen pwr atty fact
allows any to do what principle wants
atty in fact can do
http://en.wikipedia.org/wiki/Statute_of_repose
da prosecution
up to the DA