Chapter 12
A corporation is found guilty of charging purchasers advanced fees for securing mortgage loans on homes they have listed. What is the punishment for the violation?
A fine up to a maximum of $50,000.
The designation "grand theft" is used in relation to the theft of:
Automobiles and other personal property valued over $950. Money, labor, real and personal property that exceeds a value of $950.
The Real Estate Commissioner has the authority to perform all of the following actions except:
Hold interest in a real estate company or brokerage firm.
The Commissioner discovers in an audit commingling of trust accounts by a licensee. At what amount does the court issue a restraining order against the licensee?
In excess of $10,000
Jeremy, a licensee, witnesses Patti, another licensee, involved in behavior that is questionable. Jeremy learns Patti's client is also willfully involved in the indiscretions. What action, if any, should Jeremy take?
Jeremy is obligated to speak to the authorities and report what he has witnessed. If he is unsure a crime has been committed, he should obtain legal advice
Max, a licensee, accepts a bribe from ABC Title Company for referring clients. What is Max's possible punishment?
Max could go to prison and/or be fined $10,000 for each illegal transaction.
Greg, a licensee, fails to have his client sign off on the purchaser's counteroffer. Greg's client verbally approves the new terms, but Greg failed to obtain his signature. The deadline for signing the counteroffer is in one hour. Greg decides to sign his client's name. Which Penal Code Section addresses this crime, if it is a crime?
PC 470, 473
Jason has approached Sam about purchasing an acre of property that adjoins Jason's backyard. Sam has explained to Jason on numerous occasions that he is not interested in selling. Jason has resorted to telling Sam if he doesn't sell the land, he'll contact the authorities and accuse him of dealing drugs out of his home. Which Penal Code Section addresses this crime?
PC 518, 519
ABC Mortgage Company accepts a bribe from a licensee in exchange for approving mortgages for all of his clients. Which Penal Code Section addresses this crime?
PC 639-639a
The 1943 case People v. Sipper held what decision?
The selection and preparation of a mortgage or deed by a broker, in which a fee was charged, constituted the unlawful practice of law
