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A broker owns a real estate brokerage, a title company, a mortgage company, and an insurance company. The broker advertises one-stop services in his advertising. Which law requires the broker to disclose the material relationships when a client buys the property through the broker, gets the loan from the in-house lender, used the broker's title company to close the transaction, and secured an insurance policy from the broker's insurance company?

Respuesta :

osondumartins

Answer:

RESPA(REAL ESTATE SETTLEMENT PROCEDURES ACT)

Explanation: The real estate settlement procedures act was enacted by congress in 1974 and it became effective a year later, the main aim of RESPA was to create a system or process through which real estate solutions are effectively done in order to achieve a win-win situation where no one involved in real estate deals are cheated.

The act also prevents certain actions like kickbacks which it views as an unlawful activity.

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