Discussion Question 1: Limiting Renting Property to Specific Applicants
This discussion question deals with disclosure, or lack thereof, in listing property for rental or sale. After reviewing assigned course materials and conducting brief research on any pertinent laws in your jurisdiction, answer the following discussion question.
Matthew owns an apartment building with 16 rental units. He decides that in addition to using the property for income, he will use it for finding a spouse. He advertises the apartments for rent limiting the applicants to single women under the age of 25 years.
Do you agree or disagree with Matthew's approach? What, according to you, are the legal implications, if any, of Matthew's objective?
Discussion Question 2: Fiduciary Duties/Obligations of Real Estate Brokers
This discussion question deals with disclosure, or lack thereof, in listing property for rental or sale. After reviewing assigned course materials and conducting brief research on any pertinent laws in your jurisdiction, answer the following discussion question.
Adequate Realty is the listing broker for Kevin Long. He owns a parcel of property with a single-family house. Jonathon Fisher is interested in purchasing a house and engages Adequate Realty as his agent (buyer's agent). Adequate Realty shows Mr. Long's property to Mr. Fisher. The broker has disclosed his dual agency to both the parties. Mr. Long's property has an abandoned, buried fuel oil tank that neither Mr. Long nor the broker disclose to Mr. Fisher.
What are the obligations, if any, of Adequate Realty to the buyer as well as the seller? Discuss.