Chapter 7: Federal & State Laws Pertaining to Real Estate (FITB) Flashcards
The 1866 Civil Rights Act prohibits discrimination on the basis of ____.
race
An owner that does use the service of a broker and does not discriminate in advertising is ____ from the Civil Rights Act of 1968.
exempt
Lenders that refuse to make loans in certain geographic areas based on social or economic considerations are practicing ____.
redlining
According to the Americans with Disabilities Act, owners are required to make modifications to properties to comply with the Act whenever the modifications are ____ ____.
economically feasible
A lease payment that increases based on a portion of the income received by a tenant is called a ____ lease.
percentage
If the tenant is required to pay all or a portion of the operating expenses of the property in addition to the normal rent, the agreement is a ____ lease.
net
A landlord that maintains advance rents and security deposits in a ____ ____ is not required to pay interest on the funds being held.
separate non-interest bearing account
The party that receives rights as the result of an assignment is called the ____.
assignee
When a property is sublet, it creates what is called a ____ lease.
sandwich
A landlord that intends to make a damage claim against a security deposit must notify a tenant of any such intention within ____ days.
30
If a landlord holds security deposits and advance rents in an interest-bearing account but does not commingle them with other funds, the tenant is entitled to ____ of the interest earned or ____ ____ ____.
75%, 5% simple interest
When all rights under a lease have been transferred for the entire lease period, the process is called a/an ____.
assignment
From the seller’s standpoint, a sale-leaseback results in ____ financing.
100%
Federal law governing telephone solicitations prohibits calls to residences after ____.
9PM
A violation of the Florida Telephone Solicitation Act could result in a fine of up to ____.
$10,000
