Real Estate Practice

Errata & Updates

• Chapter 4: The penultimate paragraph on page 32 now reads “All MLS subagency arrangements came to a stop by the mid-1980s when the real estate agency law was enacted…”
• Chapter 7: 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.
• Chapter 12: The first heading on page 105 now reads “Demand for a fee earned.”
• Chapter 46: The fifth paragraph on page 473 now begins “However, the seller’s broker, while responsible for these services”
• Chapter 46: The third paragraph on page 474 now ends with “To eliminate these unknown claims,
  a waiver of the right to later pursue these claims needs to be included with a
  general release and made part of the mutual cancellation agreement.”
• Chapter 47: The first paragraph on page 475 now ends “In such cases, the seller’s conduct is inconsistent with or contrary to those activities the seller needs to timely perform so escrow can close.”

• Quiz 12: A previous printing misstated the answer to Question 5 as False. The
  answer has been corrected to read True in subsequent printings.