California Legal Aspects of Real Estate Questions and Correct Answers the Latest Update
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California Legal Aspects of Real Estate
Institution
California Legal Aspects Of Real Estate
Codify
to compile, arrange, systemize, and write the laws of a given region into a code.
Stela
a tall, flat stone, often carved with writing, used to mark an important historical
event.
La
✓ written law enacted by federal and state legislative bodies. Also called Black Letter
Law.
First Amendment
✓ addresses the freedom of speech and of the press. This guarantees the right to
advertise property for sale and place "for sale" signs on property.
Third Amendment
✓ prohibits the government from using private homes as quarters for soldiers without
the consent of the owners.
Fourth Amendment
✓ prohibits the seizure of property without due process of law.
Fifth Amendment
✓ prohibits the government from taking private property for public use without just
compensation. It serves as the basis for eminent domain in the United States.
Thirteenth Amendment
✓ abolished slavery and makes discrimination on the grounds of race, color, or creed
unconstitutional.
Statute
✓ a law passed by the legislature
California Laws Affecting the Real Estate Industry
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✓ -California Americans with Disabilities Act
✓ -California Asbestos Health Protection Act
✓ -California Fair Housing Act
✓ -California Hazardous Substances Act
✓ -California Megan's Law
✓ -California Subdivided Lands Law
✓ -California Foreign Investment in real Property Tax Act
✓ -California Real Property Loan Law
Regulation
✓ a rule issued by federal or state executive branch department or administrative
agency, generally under authority granted by statute, which enforces or amplifies
laws enacted by the legislature and has the force of law.
Administrative Laws
✓ are written rules and regulations adopted by governmental agencies to enable the
agencies to carry out regulatory duties.
The Department of Real Estate
✓ the agency that administers the Real Estate Law in California, which deal with the
licensing of real estate professionals.
Ordinance
✓ a municipal law or regulation
Stare decisis
✓ (to stand by things decided) means the court is bound by the precedents set by
other courts.
✓ the term used to describe the concept of looking back at cases previously decided
and following those decisions for the sake of consistency and fairness.
Civil Law
✓ deals with private offenses, such as violations of contracts, and failure of professional
duty.
Criminal Law
✓ concerns wrongs against persons or society
Licensing Law
✓ California real estate license holders are regulated by the Bureau of Real Estate
under the Business and Professions Code.
Fair Housing Law
✓ Fair housing laws deal with ending discrimination in housing. the laws include renting,
purchasing, financing, and insuring a home. In addition, advertising and zoning is
affected by fair housing laws.
Antitrust Law
✓ Antitrust law is a body of law, consisting of statutes and common law that regulate
against limiting free choice, competition, and efficient markets.
Agency Law
✓ Agency law is the area of law that governs the fiduciary relationships between
brokers and their principal.
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