Legal FAQs

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2019 SC General Assembly Helps with Service Animals and Support Animals in Housing

By |2019-06-13T15:49:33-05:00June 13th, 2019|Legal FAQs|

A SC new state law gives some guidance but this law is new and there may be future challenges to the law so always call the hotline and always recommend the landlord hire a law firm if the landlord or you want to prevent the animal. Always beware asking additional questions about the disability and [...]

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Commercial Buyers Should Consider Filing a Protective Claim ASAP

By |2019-06-12T08:25:48-05:00June 12th, 2019|Legal FAQs|

SCR is supporting a commercial taxpayer lawsuit against the government which denied the commercial property tax valuation discount to a taxpayer based on the government's interpretation of the statute which the taxpayer's lawyers disagree was correct. (e.g. Nick's law, 25% discount). Commercial buyers who are in the same situation should obtain legal counsel asap and [...]

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Louisiana Brokerage Calls Cops on a Cash Buyer with Suspicious Asset Documentation

By |2019-06-10T14:25:24-05:00June 10th, 2019|Legal FAQs|

REALTOR® Safety. Trust that where there is smoke, there is likely fire. Red flags should raise suspicions and due diligence on people. Report suspicious activity to law enforcement. Create a rapport with local officials to get action on suspicious activity reports. https://magazine.realtor/daily-news/2019/06/10/cops-agent-nab-fake-buyer-in-million-dollar-transaction?AdobeAnalytics= Posted by: Byron King on 06/10/19 (This information is only accurate as of [...]

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NAR on Protecting Yourself from Intellectual Property, Photograph, Video, Copyright online

By |2019-06-10T09:53:56-05:00June 10th, 2019|Legal FAQs|

Always get proper photo/video ownership rights or licensing rights in writing from your associated licensees, professional photographers, photographers, image owners. Never use photos/videos obtained online or from MLS listings or advertising without obtaining proper ownership rights or licensing rights in writing from the owner/licensee of the photographs or imaged. If in doubt, do not use [...]

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LLR SC Real Estate Commission News

By |2019-06-04T14:30:15-05:00June 4th, 2019|Legal FAQs|

LLR approved a new trust account guideline document for brokers which helps explain the monthly reconciliation procedures and trust account rules for brokers. LLR likely have already notified brokers of this new document and here is a link to a draft discussed during the SCR June 4, 2019 broker update with SCR President Drew Streett [...]

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Free Hardcopy of SCR Residential Contract (SCR310) and Lease (SCR410)

By |2019-06-03T11:40:54-05:00June 3rd, 2019|Legal FAQs|

A one time use free paper hardcopy of SCR Residential Contract (SCR310) and Lease (SCR410) [version 2019] is available during business hours (9 am to 5 pm EST M-F) upon request at the front desk of the South Carolina Association of REALTORS® (3780 Fernandina Road; Columbia SC 29210). Other one time use free paper hardcopies [...]

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IRS Information on Home Office

By |2019-05-28T10:00:26-05:00May 28th, 2019|Legal FAQs|

https://www.irs.gov/forms-pubs/about-form-8829 Home office deduction benefits eligible small business owners Small business owners may qualify for a home office deduction that will help them save money on their taxes, and benefit their bottom line. Taxpayers can take this deduction if they use a portion of their home exclusively, and on a regular basis, for any of [...]

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Disclosure

By |2019-05-23T11:21:18-05:00May 23rd, 2019|Legal FAQs|

Disclosure issue questions are the biggest risk management question in real estate. A judge or hearing panel is going to look at the total situation's facts, so the answer can vary but a simple answer that can change with certain facts is "disclose known material adverse facts in a reasonable time period and prior to [...]

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Opportunity Zones SC

By |2019-05-21T13:46:34-05:00May 21st, 2019|Legal FAQs|

http://scopportunityzone.com/ https://www.nar.realtor/taxes/background-qualified-opportunity-zones Posted by: Byron King on 05/21/19 (This information is only accurate as of 05/21/19. You must contact SCR for updates and changes to this information after 05/01/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

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Opportunity Zones: NAR Info on Opportunity Zones

By |2019-05-20T09:30:10-05:00May 20th, 2019|Legal FAQs|

https://www.nar.realtor/taxes/background-qualified-opportunity-zones Posted by: Byron King on 05/20/19 (This information is only accurate as of 05/20/19. You must contact SCR for updates and changes to this information after 05/01/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

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