ma ceu disclosures.....disclosures....disclosures - re91r14
Post on 14-Jul-2015
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Definition
What is DISCLOSURE?
This term means to make known, a revelation or the uncovering a thing that is kept hidden.
(Black's Law Dictionary) Hidden
• Property condition disclosure and “as is” clauses are the second-most common legal issues NAR members face.
• Legal Pulse• Legal Scan 2015
Chapter 93A
• Allows consumers to take legal action against unfair or deceptive conduct in the marketplace.
• The Attorney General take action against businesses, and prosecute a consumer protection case in the public interest.
• For claims of actual damages under $7,000, a consumer may file a legal action in the Small Claims
Chapter 93A
• Consumer sends a 93A Demand Letter– 30 days to respond– Not required if consumer is making a
counter claim to your lawsuit against them– Identifies damages– Encourages settlement– Defines claim
Chapter 93A
• Elements of the Demand Letter– Must be sent 30 days prior
to court action– Identification of the claimant– Identify the unfair or
deceptive practice– Identify the damages or
injuries– Request for relief or
damages
Triple Damages
Refused to Grant Relief
May also include Attorney’s fees
Willfully and Knowingly Violated 93A
Disclosure Legal Cases
• Lead Paint– Underwood v. Risman – 414 Mass. 96 (1993) – Piers v. Wheeler – 8 Mass L. Rep 410 (Mass. Super.) 1998
• Environmental – Urman v. South Boston Savings Bank – 424 Mass. 165
(1998)
• Zoning– DeWolfe v. Hingham Centre Real Estate – 464 Mass. 795
(2013) SJC 11168 – Quinlan v. Clasby – 71 Mass.App.Ct 97, 879 N.E. 2d 703
(Mass. App. 2008)
CrimeActivityStatisticsDrug Rehab
Zoning
Multi FamilyRes/CommercialRestrictions
Rights of Ownership
EasementsVariancesRights
Flood
Flood PlainFlood Insurance
Stigmatized Property
GhostMurders SuicideNOT HIV
Sex OffenderEVERY buyer should be instructed how to check the states registration
Where and How
MLS• State source
Sellers Disclosure• Obtain signatures
Written Communication• Email • Contracts• Certified Letter
Documentation• Copies• Journals• Recordings
Where and How
MLS• State source
Sellers Disclosure• Obtain signatures
Written Communication• Email • Contracts• Certified Letter
Documentation• Copies• Journals• Recordings
Resources
Written Reports
Professional’s receipts or estimates
Local/State & FederalOfficials
Insurance Record
Owner*Required Lead Paint
Disclosure
Where and How
MLS• State source
Sellers Disclosure• Obtain signatures
Written Communication• Email • Contracts• Certified Letter
Documentation• Copies• Journals• Recordings
• Additional Resources– www.mass.gov/dph/clppp– www.epa.gov/superfund– MAR Webinar Wednesday
• A Flood Insurance Playbook January 14th
– www.floodsmart.gov– http://www.mass.gov/eopss/agencies/sorb/
Do’s• Tell what you know• Document Everything• Give consumers
resources• Ask all sellers to
complete a disclosure• Educate Buyers and
Sellers
Don’ts• Guess, exaggerate or
pontificate!• Answer without
documentation• Become the Source• Confuse service with
responsibility
Compliance
• Create Perfect Files– Samples– Forms– Review
• Develop Resources– Website– Experts– Documentation
• Education and Information– Required programs– Legal hotline
AskFile Review
Tell
Jody O’BrienThe RE/Education Company
Committed to Professionalism in Real Estate through Education
Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocial Mediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeducator
Thank you for Attending
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