Legal Updates

law gaval Colorado legal post septic systems

When the Septic Hits the Fan: Colorado Specifics

In Colorado, new regulations were enacted regarding septic system requirements that every real estate agent and broker must know.  Many other states have not yet put these types of requirements in place, making Colorado an interesting case study in the types of regulations and permitting issues that can arise from septic system issues. Read theRead More

hiding money behind back

Legal Review: What Is a RESPA Violation?

The purpose of the Real Estate Settlement Procedures Act (RESPA) is to prevent abusive settlement charges that plagued this country’s real estate industry in the past — and led to the “Great Recession” in 2008. The key provision under RESPA is that, “No person shall give and no person shall accept any fee, kickback, orRead More

man installing home video surveillance in residence

The Benefits and Risks of Home Video Surveillance When Selling a Property

Many homes these days have surveillance equipment ranging from high-tech motion detector and video cameras to so-called “nanny-cams.” Not surprisingly, home sellers use such equipment either to protect their belongings during open houses and showings or to gain information concerning buyers’ reactions to their homes. A prominently displayed surveillance system and/or conspicuous signs alerting visitorsRead More

house keychain in pocket

Pocket Listings: A dying breed or a renewed reality? Is there any benefit, and if so, is it worth the risk?

Though many consider “coming soon” listings to be unlisted properties that will, at some point, be listed on the MLS, in many instances, a “coming soon” listing is never listed on the MLS, much like a pocket listing.  In recent years, the National Association of REALTORS® (NAR) has addressed the growing number of pocket  andRead More

Legal Duties in Residential and Commercial Transactions

Legal Duties in Residential and Commercial Transactions of a Licensed Real Estate Agent or Broker

Introduction – The Law and Primary Issue California Civil Code section 2079 sets forth the statutory duty of a real estate licensee in the State of California to both the buyer and the seller of a real estate transaction, whether it involves residential, commercial or vacant land. Civil Code section 2079.2 sets forth that theRead More

Foreign couple with real estate agent

How to Advise Foreign Language or Visually Impaired Real Estate Clients

Advising a client who is sight impaired or who cannot read or write in the English language Over the years as a real estate attorney in litigated and risk management inquiries, I have had to deal with situations where a licensed real estate agent in the State of California is representing a client who isRead More

Man hacking data on laptop

I’ve Had A Data Breach – Now What?

A business that maintains records that include a customer’s name along with any one of the following: signature, social security number, address, telephone number, physical description, passport number, driver’s license number, insurance policy number, education, employment, employment history, bank account number, credit card number, or any other financial, medical or health insurance information, must giveRead More

man with files

Disposal of Files

Business and Professions Code Section 10148 requires that a real estate licensee maintain his or her file for 3 years after the transaction closes or for 3 years after a listing if no transaction is consummated. Because some statutes of limitations (the time period within which a lawsuit must be filed) do not begin untilRead More

gavel and law books

When Does a Real Estate Agent’s Legal Duties Cease in California to His or Her Client?

In recent months I have handled an increasing number of risk management inquiries for real estate agents and brokers on the issue of when does a real estate agent’s duties cease to the client. This question typically arises after closing when new “issues” arise, such as newly discovered water intrusion or pest infestation problems thatRead More

gavel, scales, law books

What Is Psychologically Impacted Property?

Colorado, like most states of the union, has adopted a statute that excuses sellers of residential real estate and their brokers from having to disclose certain facts that may psychologically stigmatize real property.  Unfortunately, Colorado does not have a bright line rule as to what psychologically-stigmatizing circumstances do not need to be disclosed versus thoseRead More

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