oklahoma association of realtors

Oklahoma Association of REALTORS® Legal Information Line Guidelines The Legal Information Line will answer calls from 8:30 a.m. to 5:00 p.m., Monday through Friday, excluding holidays. The Legal Information Line number is 1-800-414-3161. Each caller is limited to one subject per call. All callers will be required to give an access number with each call and therefore must be registered with OAR. There is a maximum of two authorized callers from each member office: the Designated REALTOR® and one other Member registered by the Broker. Other REALTORS® in the firm may obtain Legal Information Line information via their authorized callers. Member Associations (Local Boards) will also have access to the Legal Information Line through the Association Executive. Each registered caller will use his or her Member I. D. number for access and should be prepared to give that number to the attorney answering the call. The list of callers and access codes will be maintained through OAR headquarters. The lawyer who takes your call will be prepared to answer questions pertinent to real estate brokerage. The intent of the OAR Legal Information Line is to provide an immediate verbal response to a legal question. No question will be answered on matters that are unrelated to real estate, currently in legal proceedings or that concern disputes or potential disputes between REALTORS®. When you call the Legal Information Line, you will be speaking directly to an attorney whose sole purpose is to give you general legal information in response to your inquiries. Do not expect the Legal Information Line to replace your own legal counsel. Legal Information Line attorneys can answer questions only on the general facts provided, and should not be asked to second-guess your own attorney who might have access to other significant details. There may be times when the only information the Legal Information Line will give you is to consult your own legal counsel. The first step you must take is to complete the Legal Information Line User Agreement to gain caller access. Fill in the requested information, detach and return it to OAR headquarters. You will receive confirmation of your authorized participation in the OAR Legal Information Line. Each Designated REALTOR® (principal broker or branch office manager) should list himself or herself as the primary caller. Please note that either caller may use the Legal Information Line at any time during established Legal Information Line hours. The OAR Legal Information Line is offered through the offices of Riggs, Abney, Neal, Turpen, Orbison & Lewis, a Professional Corporation. The OAR Legal Information Line is not intended to be your lawyer or replace your own legal counsel. The OAR Legal Information Line has one purpose: to provide direct toll-free access for our members to a qualified attorney who can provide general information on real estate law and related matters. The goal is to increase professional knowledge and decrease your professional liability. When you use the Legal Information Line, you should bear in mind the following things: • The Legal Information Line cannot substitute for your own legal counsel; it will only provide general legal information. No attorney-client relationship is formed by using the Legal Information Line. Accordingly, communications through the Legal Information Line are not privileged. • The names of other parties or REALTORS® who may be involved in a particular transaction must not be mentioned. • Make sure you understand the information given to you; if you do not understand, please ask for further explanation. • The information you receive from the Legal Information Line is based only on the facts you provide. If those facts are disputed, or if there are facts not mentioned, the information provided could be quite different. • The Legal Information Line cannot provide information for your clients or customers. The information obtained through the Legal Information Line is intended to be used solely by the the authorized users. If there is a legal dispute, you should suggest that the parties retain their own legal counsel. Call the Legal Information Line at 800.414.3161 Monday - Friday, 8:30 a.m. thru 5:00 p.m. BANKRUPTCY (as it relates to real property) BROKER RELATIONSHIPS LAW (formerly “Agency”) Single Party Broker Transaction Broker BROKERAGE Advertising Truth-in-Lending Anti-Trust Auction Branch Office Broker/Salesperson Business Opportunity Commissions Adjustment Policy Letter Execution Documents Forms Out-of-State Types Home Warranty Incentives Listings Sales Negotiation Out-of-State Property Records Referral/Finder's Fee Salesperson Relations Commissions Independent Contractor Restrictive Covenants Separation Solicitation Supervision CIVIL RIGHTS LAW Fair Housing CLOSING Costs Proceeds Prorations DISCLOSURE Broker Status Continuing Duty Federally Required Disclosures Fees/Commissions Investigation Material/Adverse Factors Parties Property FINANCING Anti-Trust Conditions Discrimination Equity Participation Interest on Escrows LANDLORD-TENANT Broker Listing Selling Tenant Discrimination Lender Property Management Landlord LICENSE LAW Appraiser Broker/Salesperson Dealing Negotiation Closing Company CORPORATE Discipline LISTING Exclusion/Exception Ownership Performance Protection Requirements Solicitation Transfer MARITAL PROPERTY Credit Divorce Domicile Title MOBILE HOME Sales OFFER Acceptance Addendum Allocations Amendment Contingencies Disclosure of Terms Earnest Money Return Execution Occupancy Change Personal Property Presentation Representation/Warranties Secondary Advancement Termination Timing REGULATION (as it relates to industry) Home Warranty Weatherization REMEDIES Earnest Money Foreclosure Land Contract Mitigation of Damages Specific Performances CURRENT TAXATION LAW (as it relates to real estate practice) Federal Income Capital Gains Deductions Exchange Form 1099 Imputed Interest State Income Capital Gains Deduction State Personal Property State Transfer Fee TITLE/INTEREST IN PROPERTY Concurrent Interests Description Encumbrances Methods of Taking Title Riparian Rights TRUST ACCOUNTS Interest Bearing Requirement Trust Funds MISCELLANEOUS Probate SecuritiesLimited Partnership Securities Limited Liability Co. Oklahoma Association of REALTORS® Legal Information Line User Agreement As a Designated REALTOR® and a member of the Oklahoma Association of REALTORS®, I, ________________, Designated REALTOR®, (or I, ____________________, Assigned Caller,) agree that I have read and understood the explanation for the Legal Information Line purpose and operation and guidelines for use. I understand that the purpose of the Legal Information Line is simply for education and information and to assist me in maintaining my professional competence and is not legal advice. I understand that the Legal Information Line is intended to keep the Association abreast of legal developments andconcerns involving real estate and brokerage law. I further understand that the Association has contracted with the Legal Information Line law firm to provide a source of legal information to me and will not be acting as my or my firm’s attorney by answering my Legal Information Line questions. I understand that by using the Legal Information Line I will not be creating or entering into an attorney-client relationship with the Legal Information Line law firm or the attorney to whom I am speaking. I understand that the information I receive will be general legal information. I understand and agree that the Oklahoma Association of REALTORS® by contracting for this service, assumes no actual or implied responsibility for the accuracy or correctness of the information provided by the Legal Information Line law firm or any improper use or misuse of information obtained through the Legal Information Line. I agree to hold the Association harmless for any claim I might have arising from my use of the Legal Information Line. I also understand and agree that I may not convey or imply to others such as clients, customers or other licensees any information obtained through the Legal Information Line in such a manner so as to be construed that I am providing legal advice or in such a manner so as to be construed that the Oklahoma Association of REALTORS® is rendering legal advice. I agree to indemnify, defend and hold the Association harmless from any claim, action, liability, loss, cost or expense arising from my misuse of the information obtained through the Legal Information Line, any failure to comply with the Legal Information Line User Agreement or failure to comply with the guidelines, procedures and policies established by the Association concerning the Legal Information Line. I also understand that Legal Information Line attorneys will provide periodic summaries of Legal Information Line inquiries, without attribution to any caller(s), for educational purposes of OAR and hereby authorize the release of such information. By signing this statement, I am requesting the assignment of a personal identification number that will be used only by me to access the Legal Information Line. I will not allow any other Association member, client, customer, or person, to access the Legal Information Line with my personal identification number. Use of the Legal Information Line is conditioned on (a) acceptance of the Legal Information Line User Agreement, the guidelines, procedures and policies governing the Legal Information Line; and (b) explanation of such conditions, agreements, terms, guidelines, procedures and policies to any party in my office who is seeking information from the Legal Information Line through me. By using the Legal Information Line, I represent to the Association that each of the foregoing conditions are satisfied. I further agree that if I cease to be a member of the Association, my access to the Legal Information Line will also cease immediately. As a Designated REALTOR®, I agree that I will be responsible for informing the Association of the member in my firm who I have designated to use the Legal Information Line. I understand this assigned caller will have his/her own personal identification number upon signing the Association Legal Information Line User Agreement. Call the Legal Information Line at 800.414.3161 Monday - Friday, 8:30 a.m. thru 5:00 p.m. Designated REALTOR® (DR) Name Signature Assigned Caller (AC) Name Signature Firm/Branch Office Address Phone FAX Real Estate License # Real Estate License # E-Mail Please return the User Agreement to Oklahoma Association of REALTORS®, 9807 North Broadway, Oklahoma City, OK 73114. Phone 405.848.9944 or 800.375.9944 or FAX 405.848.9947 Keep the rest of the brochure and a copy of your completed User Agreement for your reference.