Office Management & Supervision, Agency, Fair Housing, Trust Funds, Ethics and Risk Management

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Errata & Updates

Agency Chapter 2: The updated statutory Agency Law Disclosure and confirmation provision
went into effect the beginning of 2019. Both the content of the form and when it is to be used
have been modified.
Further, prior printings indicate the Agency Law Disclosure is not required on a lease with a term
exceeding one year. However, lease transactions greater than one year are targeted
transactions requiring the disclosure. For a thorough analysis of the new disclosure and
confirmation practices, see the digital eBook version of the book.

Trust Funds Chapter 6: Penalties for misuse of trust funds. Page 224. Real estate recovery
accounts are no longer limited to $20,000 per transaction. The new limit is $50,000.