A recent California Supreme Court decision involving square footage discrepancies of a luxury home includes both disclosure and dual agency issues, according to Illinois REALTORS® Legal Hotline Attorney Betsy Urbance in the January edition of Designated REALTOR® Legal News.
While Illinois brokers can take some comfort because of differences between state laws in California and Illinois, Urbance says there’s still a question of whether square footage is a materially adverse physical condition under Illinois law. Get a more detailed explanation of (Horiike v. Coldwell Banker Residential Brokerage Company et al).
The latest edition of the electronic newsletter for managing brokers also provides: five legal case studies, Illinois real estate disciplinary actions, new laws for the new year, a state housing forecast, updated downloadable legal forms and RVOICE brochures, and a reminder about year-end record-keeping.
