A federal statute called RESPA disallows a seller in a residential real estate transaction that is purchased with almost any mortgage from requiring the buyer to utilize a given title company as a condition of sale. This is a situation that we are seeing more and more in the REO adhesion contract world within which we are currently operating. HUD also has regulations that speak to this issue and have requested public comment on the definition of required use. To see HUD's request for comments click here and please make your voice heard.
Legal Analysts
Popular Posts
-
HELPFUL TIPS FROM THE DEPARTMENT OF STATE (DOS) FOR RENEWING NY REAL ESTATE SALESPERSON & BROKER LICENSES. *** Renewal must be comple...
-
What are the Continuing Education requirements for real estate agents in NY? As of 7/1/2021. All licensees must receive 22.5 hours of contin...
-
A new law on landlord's ability to collect legal fees was signed by Gov. Hochul on December 21, 2021 and is effective immediately. The l... -
Unfortunately, the term shared is such an inexact state of being and only through first deciphering how the driveway is actually owned can ...
-
A licensee (salesperson or broker) can renew their license anytime within two years of the expiration date. Of course they cannot use the...
-
Now there is another initiative by New York State to combat discrimination in real estate. Effective as of December 21, 2021 a $30 fee has b... -
To remind you, this is the case that deputized private citizens to enforce the Texas Heartbeat Act (S. B. 8) and rewarded citizens with a $1... -
Some employers want to know if they can chose to take the penalty and forego the NY required sexual harassment prevention training, policy a... -
On March 31, 2019, Governor Cuomo signed the New York State Budget for the 2020 Fiscal Year . Notable changes include increased real estate ... -
Not only can the offensive smell be stopped, but damages may be available to you as the neighbor who has had to endure the offensive smell t...
