license law

83
LICENSE LAW 34-27-36 Alabama Real Estate Commission 3 Hour CE credit for 2010 Steve McTyeire, MBA, Broker Real Estate Instructor Avery Yarbrough School of Real Estate [email protected] NewLocationRealty.com 205-807-5200

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Page 1: License law

LICENSE LAW34-27-36

Alabama Real Estate Commission 3 Hour CE credit for 2010

Steve McTyeire MBA BrokerReal Estate Instructor

Avery Yarbrough School of Real Estate

SteveMcTgmailcomNewLocationRealtycom

205-807-5200

AREC Rules

Turn off Cell Phones You must be here now to receive

credit later And stay till end

Everyone Signed in Name amp license

MUST pass 100 question test at end of class Just kidding no test

Check Cmap for credit in 2 days Leave praising evaluation

wwwarecalabamagov

Handouts Power Point Slides Cases Articles by Charles Sowell

Advertising A Few PointsAdvertising Advisory OpinionEstimating Net SheetsSeller Disclosure in AlabamaCaveat EmptorMinimum Service

Class Outline License law 34-27-36 (1-31) Break License Law Jeopardy Game Case Studies Break Advertising Net Sheets Seller Disclosure Caveat Emptor Close

Alabama License Law 1931

14 Page Booklet10 Violations

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 2: License law

AREC Rules

Turn off Cell Phones You must be here now to receive

credit later And stay till end

Everyone Signed in Name amp license

MUST pass 100 question test at end of class Just kidding no test

Check Cmap for credit in 2 days Leave praising evaluation

wwwarecalabamagov

Handouts Power Point Slides Cases Articles by Charles Sowell

Advertising A Few PointsAdvertising Advisory OpinionEstimating Net SheetsSeller Disclosure in AlabamaCaveat EmptorMinimum Service

Class Outline License law 34-27-36 (1-31) Break License Law Jeopardy Game Case Studies Break Advertising Net Sheets Seller Disclosure Caveat Emptor Close

Alabama License Law 1931

14 Page Booklet10 Violations

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 3: License law

Handouts Power Point Slides Cases Articles by Charles Sowell

Advertising A Few PointsAdvertising Advisory OpinionEstimating Net SheetsSeller Disclosure in AlabamaCaveat EmptorMinimum Service

Class Outline License law 34-27-36 (1-31) Break License Law Jeopardy Game Case Studies Break Advertising Net Sheets Seller Disclosure Caveat Emptor Close

Alabama License Law 1931

14 Page Booklet10 Violations

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 4: License law

Class Outline License law 34-27-36 (1-31) Break License Law Jeopardy Game Case Studies Break Advertising Net Sheets Seller Disclosure Caveat Emptor Close

Alabama License Law 1931

14 Page Booklet10 Violations

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 5: License law

Alabama License Law 1931

14 Page Booklet10 Violations

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 6: License law

Alabama License LawEffective June 1931

Making a substantial misrepresentation or Making a false promise of a character likely to

Influence persuade or induce or Pursuing a continued and flagrant course of

Misrepresentation or making of false promises Through agents or salesmen or advertising or

Acting for more than one party in a transaction Without the knowledge of all parties or

Representing a real estate broker without the Knowledge and consent of the employer

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 7: License law

Alabama License LawEffective June 1931

Failing within a reasonable time to account for Or to remit any money coming into his possession Which belongs to others or

Being unworthy or incompetent to act as a RE broker or agent in such a manner as to safeguard

the Interest of the public or

Paying a commission or valuable consideration To any person for acts or services performed in Violation of this act or

Any other conduct which constitutes improper Fraudulent or dishonest dealing

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 8: License law

Alabama License LawEffective June 1931

Any unlawful act or violation of the provisions of this act by any salesman of a licensed real estate broker shall not be cause for the revocation of a license of any real estate broker unless it shall appear to the satisfaction of the Commission that the broker had guilty knowledge himself

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 9: License law

Complaint on licensee

Commission will investigate a verified complaint by any person

If probable cause is found Formal complaint is filed Notice issued Hearings are held The Commission may issue subpoenas

and compel the testimony of witnesses production of documents and records during an investigation of a licensee

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 10: License law

Complaint Form

Complaint Form httpwwwarecalabamagovpdfComplain

t20Form202007pdf

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 11: License law

If licensee is found guiltyThe Commission may

Suspend or Revoke license Fine $100 to $2500

Or both of above Restitution Require CE usually Risk Management If criminal act refer to Attorney

General Could be jailed

Hold Broker liable for acts of salespeople Get in brokerrsquos checkbook as well as

agentrsquos

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 12: License law

AREC Update

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 13: License law

Alabama License Law 2009

114 Pages ampLots of Violations

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 14: License law

1931 (9) 2009 (40) Violations

34-27-36 (1)

Procuring or attempting to procure a license for himself or herself or another by fraud misrepresentation or deceit or by making a material misstatement of fact in an application for a license

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 15: License law

34-27-36 (2)

Engaging in misrepresentation or dishonest or fraudulent acts when selling buying trading or renting real property of his or her own or of a spouse child or parent

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 16: License law

34-27-36 (3)

Making a material misrepresentation or failing to disclose to a potential purchaser or lessee any latent structural defect or any other defect known to the licensee

Latent structural defects and other defects do not refer to trivial or insignificant defects but refer to those defects that would be a significant factor to a reasonable and prudent person in making a decision to purchase or lease

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 17: License law

34-27-36 (4)

Making any false promises of a character likely to influence persuade or induce any person to enter into any contract or agreement

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 18: License law

34-27-36 (5)

Pursuing a continued and flagrant course of misrepresentation or the making of false promises through agents or salespersons or any medium of advertising or otherwise

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 19: License law

34-27-36 (6)

Publishing or causing to be published any advertisement which deceives or which is likely to deceive the public or which in any manner tends to create a misleading impression or which fails to identify the person causing the advertisement to be placed as a licensed broker or salesperson

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 20: License law

34-27-36 (7)

Acting for more than one party in a transaction without the knowledge and consent in writing of all parties for whom he or she acts

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 21: License law

34-27-36 (8 a)

Failing to within a reasonable time to properly account for or remit money coming into his or her possession which belongs to others or commingling money belonging to others with his or her own funds

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 22: License law

34-27-36 (8 b)

Failing to deposit and account for at all times all funds belonging to or being held for others in a separate federally insured account or accounts in a financial institution located in Alabama

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 23: License law

34-27-36 (8 c)

Failing to keep for at least three years a complete record of funds belonging to others showing to whom the money belongs date deposited date of withdrawal and any other pertinent information

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 24: License law

34-27-36 (9)

Placing a sign on any property offering it for sale lease or rent without the consent of the owner

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 25: License law

34-27-36 (10)

Failing to voluntarily furnish a copy of each listing contract lease and other documents to each party executing the document with reasonable promptness

34-27-36 (25) Failing to include a fixed date of

expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 26: License law

34-27-36 (11) Paying any profit compensation

commission or fee to or dividing any profit compensation commission or fee with anyone other than a licensee or multiple listing service This subdivision shall not prevent an associate broker or salesperson from owning any lawfully constituted business organization including but not limited to a corporation or LLC for the purpose of receiving payments contemplated in this subsection The business organization shall not be required to be licensed under this chapter and shall not engage in any other activity requiring a real estate license

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 27: License law

34-27-36 (12)

Paying or receiving any rebate from any person in a real estate transaction

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 28: License law

34-27-36 (13)

Inducing any party to a contract to break the contract for the purpose of substituting a new contract where the substitution is motivated by the personal gain of the licensee

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 29: License law

34-27-36 (14)

If the licensee is a salesperson or associate broker accepting a commission or other valuable consideration for performing any act for which a license is required from any person except his or her qualifying broker

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 30: License law

34-27-36 (15) If a qualifying broker or company

allowing a salesperson or associate broker licensed under him or her to advertise himself or herself as a real estate agent without the name or trade name of the qualifying broker or company appearing prominently on the advertising in letters at least as large as the name of the salesperson or associate broker

Websterrsquos -- prominent sticking out projecting noticeable

conspicuous Fine print is not prominent

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 31: License law

34-27-36 (16)

Presenting to the commission as payment for a fee or fine a check that is returned unpaid

1 violation of license law

$250 fine plus bank chargeName in AREC Update

Risk management Electronic payment or money order

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 32: License law

34-27-36 (17)

Establishing an association by employment or otherwise with an unlicensed person who is expected or required to act as a licensee or aiding abetting or conspiring with a person to circumvent the requirements of this chapter

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 33: License law

34-27-36 (18)

Failing to disclose to an owner the licenseersquos intention to acquire directly or indirectly an interest in property which he or she or his or her associates have been employed to sell

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 34: License law

34-27-36 (19)

Violating or disregarding any provision of this chapter or any rule regulation or order of the commission

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 35: License law

34-27-36 (20)

If a broker accepting a ldquonet listingrdquo agreement for sale of real property or any interest therein

A ldquonet listingrdquo is one that stipulates a net price to be received by the owner with the excess due to be received by the broker as his or her commission

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 36: License law

34-27-36 (21)

Misrepresenting or failing to disclose to any lender guaranteeing agency or any other interested party the true terms of the sale of the real estate

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 37: License law

34-27-36 (22)

Failing to inform the buyer or seller at the time an offer is presented that he or she will be expected to pay certain closing cost and the approximate amount of those cost

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 38: License law

34-27-36 (23 a)

Having entered a plea of guilty or nolo contendere to or having been found guilty of or convicted of a felony or a crime involving moral turpitude

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 39: License law

34-27-36 (23 b)

Having a final money judgment rendered against him or her which results from an act or omission occurring in the pursuit of his or her real estate business or involves the goodwill of an existing real estate business

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 40: License law

34-27-36 (24)

Offering free lots or conducting lotteries for the purpose of influencing a party to purchase or lease real estate

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 41: License law

34-27-36 (25)

Failing to include a fixed date of expiration in a written listing agreement or failing to leave a copy of the agreement with the principle

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 42: License law

34-27-36 (26)

Conduct which constitutes or demonstrates dishonest dealings bad faith or untrustworthiness

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 43: License law

34-27-36 (27)

Acting negligently or incompetently in performing an act for which a person is required to hold a real estate license

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 44: License law

34-27-36 (28)

Failing or refusing on demand to produce a document book or record in his or her possession concerning a real estate transaction conducted by him or her for inspection by the commission or its authorized personnel or representative

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 45: License law

34-27-36 (29)

Failing within a reasonable time to provide information requested by the commission during an investigation or after a formal complaint has been filed

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 46: License law

34-27-36 (30)

Failing without cause to surrender to the rightful owner on demand a document or instrument coming into his or her possession

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 47: License law

34-27-36 (31 a)

If a qualifying broker or company failing to keep in their files copies of all contracts leases listings and other records pertinent to real estate transactions for a period of three years

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 48: License law

34-27-36 (31 b) If it appears that a person firm corporation or

any business entity has engaged or is about to engage in an act or practice constituting a violation of Article 1 or 2 of this chapter or any rule or order of the commission the commission through the Attorney General may institute legal actions to enjoin the act or practice and to enforce compliance with articles 1 and 2 of this chapter or any rule or order of the commission 79 words

To prevail in an action it shall not be necessary to allege or prove either that an adequate remedy at law does not exist or that substantial or irreparable damage would result from the continued violation

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 49: License law

34-27-36 (31 c1)

Not withstanding any other provisions of law the commission may issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm or business entity is not licensed under this chapter The order shall be entered by the executive director after a finding of probable cause by the commission staff The order shall become final 15 days after its service upon the accused unless the accused request a hearing before the commission

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 50: License law

34-27-36 (31 c1)

Upon hearing the case and finding violations the commission may make the cease and desist order final and the commission may impose a fine for each violation in an amount consistent with the range of fines applicable to licensees and in addition may impose a fine in the amount of any gain or economic benefit that was derived form the violation and in addition may impose a fine in the amount of the commissionrsquos cost incurred Any fines not paid as ordered shall be enforceable in any court with jurisdiction and proper venue

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 51: License law

34-27-36 (31 c2)

Notwithstanding any other provisions of law the commission may decline to issue an order requiring any accused person firm corporation or business entity to cease and desist from engaging in activities requiring a license under this chapter when the accused person firm corporation or entity is not licensed under this chapter In this instance the commission shall proceed to give appropriate notice of the violation and hold a hearing thereon

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 52: License law

34-27-36 (31 d)

The commission shall notify the licensee and qualifying broker in writing regarding the complaint

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 53: License law

34-27-36 (31 e)

The commission shall notify the complainant licensee and qualifying broker in writing regarding the disposition of the complaint

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 54: License law

Break

10 Minutes

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 55: License law

Jeopardy

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 56: License law

Complaint 1 page 1

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 57: License law

Complaint 1 page 2

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 58: License law

Count 1

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 59: License law

Complaint 2 page 1

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 60: License law

Complaint 2 page 2

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 61: License law

Count 2

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 62: License law

Complaint 3 page 1

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 63: License law

Complaint 3 page 2

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 64: License law

Count 3

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 65: License law

Break

10 Minutes

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 66: License law

Advertising Points

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 67: License law

Advertising Advisory

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 68: License law

Application of Advertising Law to Social Networking Sites

Questions about social networking sites Such asMySpace Facebook and Twitter We are seeing listings and

other solicitations of business on these sites

The commission wants it to be known that these solicitations are

advertising and are subject to the same laws as all other kinds of

advertising Policy for many years has been to treat all forms of

advertising the same regardless of the media used Electronic

solicitations of business on Web sites for example are considered

advertising just the same as a billboard

Any questions should be directed to the commission officeMay 2009

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 69: License law

Advertising

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Advertising Company Name httpwwwarecalabamagovpdfUpdateAREC20Update20Summer202009pdf

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 70: License law

Estimated Net Sheet

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 71: License law

Net Sheets

Refresher on Net Sheets httpwwwarecalabamagovpdfUp

dateupdate303pdf

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 72: License law

Seller Disclosure

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 73: License law

Seller Disclosure

Seller Disclosure httpwwwarecalabamagovpdfUpdatearec_update_0417pdf

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 74: License law

Caveat Emptor

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 75: License law

Caveat Emptor

Caveat Emptor Let the buyer beware httpwwwarecalabamagovpdfUpdatesummer97pdf

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 76: License law

Legal Articles Links

Gifts httpwwwarecalabamagovlegalbriefly-legalasp

Advertising httpwwwarecalabamagovpdfUpdateupdate-fall-2009pdf

Briefly Legal Archives httpwwwarecalabamagovlegalbriefly-legal-archiveasp

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 77: License law

Update Newsletter - Briefly Legal Index

Article Title In This Issue Vacation Rental Brokers-Its All About Disclosure Spring 2010 Property Management Ins amp Outs of Escrow Accounts Spring 2010 Disclosing Special Relationships Winter 2010 Advertising A Few Points Fall 2009 Company Names in Advertising Whats in a Name Summer 2009 Application of Advertising Law to Social Networking Sites Lawsuit and Criminal Case Reporting Requirements Summer 2009 Earnest Money Disputes Part II Spring 2009 No Referral Fees to Unlicensed Persons Renewal 2008 Company Licensing Requirements Fall 2008 As Is Little Words Big Impact Spring 2008 WarningDo You Know Who is Auditing Your Company Spring 2008 Alabama Vacation Timeshares and Fractional Interest Spring 2008 Attention Reciprocal Licensees Spring 2008 CE Courses Taken in Other States Spring 2008 How Do We Do It Winter 2008 Commercial Practice Tips Renewal 2006 Earnest Money Disputes Winter 2007 Commercial Practice Tips Renewal 2006 Act 2006-601 (Unlicensed Activity amp Jurisdiction) Renewal 2006 Letter Sizinrsquo Alabama Real Estate Advertising Regulation Spring 2006 Seller Disclosure in Alabama Spring 2006 CMA BPO or Appraisal Spring

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 78: License law

2006 License Law Changes Fall 2005 Duplicate Company Names Fall 2005 Minimum Services Law Fall 2005 Double Dipping (So you want to be in the Mortgage Business Too) Spring 2005 When You Change Companies FallWinter 2004 Mortgage Loan FraudndashDonrsquot Do It Renewal 2004 Four Men Charged in HUD Loan Fraud Winter 2004 Real Estate on Late Night Television Winter 2004 Companies to Receive Commissions for Licensees Fall 2003 Buying a Property Listed by Your Company Summer 2003 A Refresher on Estimated Closing Statements or Net Sheets Spring 2003 Audit Checklist Is That Your Final Answer Or is it Fraudulent Suppression Fall 2002 Sweep Escrow Accounts Renewal 2002 Random Office Inspections Audits and Other Stuff SpringSummer 2002 Commissioners Amend RECAD Form SpringSummer 2002 Brokers Liens on Commercial Real Estate SpringSummer 2000 Your Company Trust Accounts Winter 1999 RECAD in Commercial Deals SpringSummer 1999 Property Transfer and Underground Storage Tanks SpringSummer 1999 Risk Management 101 You and YOUR Real Estate Fall 1998 Questions RECAD Meganrsquos Law Continuing Education Summer 1998 A Quiz on Getting Paid Winter 1998 Caveat Emptor vs Seller Disclosure Summer 1997 Gifts Rebates and Kickbacks Spring 1997 Deposit of Funds Rule Changes (See current Rule 790-X-1-03) Summer 1996

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 79: License law

CMap

Student Instruction Sheet Check your credit on the Commissionrsquos Web site at wwwarecalabamagov 1 Check your course credit on the Alabama Real Estate Commissionrsquos Web site by clicking on

ldquoCheck CE Creditrdquo in the Quick Links on the home page

2 Click ldquoOnline Servicesrdquo on the next page

3 Log in by typing your license number last four digits of your social security number and date of birth 1048707 Your license number should not include the extension (ie -0 -1 -2 etc)

1048707 Your date of birth must contain two digits for the month two for the day and four for the year of birth It will not work any other way

4 Once your record appears make any necessary changes to your address If no changes need to be made click ldquoNextrdquo at the bottom of the screen

5 Select ldquoLicensee CE Creditrdquo from the Available Services and check to see which courses have been reported to the Commission

6 It will take approximately 10 days after course completion to report your credit

7 If your credit does not appear on the Web site by that time you may choose to contact the appropriate instructor or school and have your credit reported to the Real Estate Commission

8 Remember if it does not show on the Commissionrsquos Web site the Commission does not have it and you do not have credit

9 Once you access your record to check your CE credit you can also submit a course evaluation

10 Next to the course you completed is a button labeled ldquoEvaluate this Courserdquo You will have this option for thirty days after you complete the course

Rev 07142009

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion
Page 80: License law

Conclusion License law 34-27-36 (1-31) License Law Jeopardy Game Case Studies Advertising Net Sheets Seller Disclosure Caveat Emptor Minimum Service

  • License Law 34-27-36
  • AREC Rules
  • Handouts
  • Class Outline
  • Alabama License Law 1931
  • Alabama License Law Effective June 1931
  • Alabama License Law Effective June 1931 (2)
  • Alabama License Law Effective June 1931 (3)
  • Complaint on licensee
  • Complaint Form
  • If licensee is found guilty The Commission may
  • AREC Update
  • Alabama License Law 2009
  • 1931 (9) 2009 (40) Violations 34-27-36 (1)
  • 34-27-36 (2)
  • 34-27-36 (3)
  • 34-27-36 (4)
  • 34-27-36 (5)
  • 34-27-36 (6)
  • 34-27-36 (7)
  • 34-27-36 (8 a)
  • 34-27-36 (8 b)
  • 34-27-36 (8 c)
  • 34-27-36 (9)
  • 34-27-36 (10)
  • 34-27-36 (11)
  • 34-27-36 (12)
  • 34-27-36 (13)
  • 34-27-36 (14)
  • 34-27-36 (15)
  • 34-27-36 (16)
  • 34-27-36 (17)
  • 34-27-36 (18)
  • 34-27-36 (19)
  • 34-27-36 (20)
  • 34-27-36 (21)
  • 34-27-36 (22)
  • 34-27-36 (23 a)
  • 34-27-36 (23 b)
  • 34-27-36 (24)
  • 34-27-36 (25)
  • 34-27-36 (26)
  • 34-27-36 (27)
  • 34-27-36 (28)
  • 34-27-36 (29)
  • 34-27-36 (30)
  • 34-27-36 (31 a)
  • 34-27-36 (31 b)
  • 34-27-36 (31 c1)
  • 34-27-36 (31 c1) (2)
  • 34-27-36 (31 c2)
  • 34-27-36 (31 d)
  • 34-27-36 (31 e)
  • Slide 54
  • Slide 55
  • Break
  • Jeopardy
  • Complaint 1 page 1
  • Complaint 1 page 2
  • Count 1
  • Complaint 2 page 1
  • Complaint 2 page 2
  • Count 2
  • Complaint 3 page 1
  • Complaint 3 page 2
  • Count 3
  • Break
  • Advertising Points
  • Advertising Advisory
  • Slide 70
  • Advertising
  • Estimated Net Sheet
  • Net Sheets
  • Seller Disclosure
  • Seller Disclosure (2)
  • Caveat Emptor
  • Caveat Emptor (2)
  • Slide 78
  • Legal Articles Links
  • Slide 80
  • Slide 81
  • Slide 82
  • Conclusion