Property Laws & Regulations Flashcards
7 cards from real Wisconsin Real Estate License practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Property Laws & Regulations flashcards as text
Under the federal and Wisconsin Fair Housing laws, which of the following is a protected class beyond the federal minimums that Wisconsin adds?
Answer: Lawful source of income
Wisconsin's Open Housing Law adds protected classes such as lawful source of income beyond the federal Fair Housing Act.
In Wisconsin, a landlord must return a tenant's security deposit within how many days after the tenant vacates?
Answer: 21 days
Wisconsin law requires landlords to return the security deposit, minus lawful deductions, within 21 days of the tenant moving out.
Which Wisconsin disclosure is required when selling a home built before 1978?
Answer: Lead-based paint disclosure
Federal law, applicable in Wisconsin, requires lead-based paint disclosure for homes built before 1978.
A Wisconsin real estate licensee who represents both the buyer and seller in the same transaction is acting as a:
Answer: Dual agent
A licensee representing both parties is a dual agent and must have written consent from both buyer and seller in Wisconsin.
Wisconsin homestead protection primarily shields a portion of a homeowner's equity from:
Answer: Certain creditors' claims
The Wisconsin homestead exemption protects a set amount of home equity from most unsecured creditors.
In a Wisconsin residential lease, a provision waiving the landlord's duty to maintain the premises is generally:
Answer: Void as against public policy
Wisconsin law prohibits lease clauses that waive a landlord's statutory duty to maintain habitable premises, making them void.
When a Wisconsin property is sold, the real estate transfer fee is typically paid by the:
Answer: Seller (grantor)
In Wisconsin the real estate transfer fee is customarily the responsibility of the seller when the deed is recorded.