"To uphold, protect, and promote the public interest, which embraces the interests of
regulated licensees and entities and the interest of consumers, by
... [Show More] the fair and impartial
development and administration of licensing laws and regulations." ✔✔Alabama Real
Estate Commission Mission Statement
Protect consumers from unprofessional practices. ✔✔What is the primary purpose of
license laws?
Buyers, Sellers, Tenants, and Land/Building Owners ✔✔Who does license law protect?
Law of Contracts, General Property Law, Law of Agency, State-Specific License Law,
Landlord-Tenant Laws, & Consumer Protection Laws are all: ✔✔Areas covered by Real
Estate License Law.
Governs the use of contracts, and what makes them valid. Also covers what happens
when a breach of contract occurs and how contracts may be terminated. ✔✔Law of
Contracts
I, Tripp Burnett, can legally draft contracts. T/F ✔✔False.
Covers the various forms of property law and ownership including, tenancy in real
property, and its distinction from personal property. Also covers the rights of ownership
and tenancy and the government's rights and authority under eminent domain and
various police powers. ✔✔General Property Law
Covers how an agency relationship is created, and the duties of an agent to the
principal. ✔✔Law of Agency
Relate to the requirements of a licensee when preforming real estate activities within the
state. ✔✔State-Specific License Law
These laws address the landlord-tenant relationship. They establish everything from the
duties and responsibilities of each party to the state laws for handling lease agreements
to fair housing considerations for tenants and other tenants' rights issues. ✔✔LandlordTenant Laws
Laws established to ensure that the licensed professionals in a state treat customers
with fairness. These laws are designed to protect consumers from unfair or unethical
business practices, fraud, misrepresentation, and more. ✔✔Consumer-Protection Laws
1928. ✔✔The year the AREC was bor [Show Less]