Ch 2: Alabama Real Estate Law & Statutory Requirements

About This Chapter

This chapter guides you through Alabama real estate laws, regulations, and statutory requirements. These expertly taught lessons are a great way to get ready for a test or bolster your professional expertise.

Alabama Real Estate Law & Statutory Requirements - Chapter Summary

In this chapter, you can review the legal and statutory requirements that the state of Alabama places on the real estate industry. For example, you'll study the regulations for brokers, office audits, and closing statements. By the end of this chapter, you will be able to:

  • Explain broker responsibilities in Alabama real estate
  • Enumerate a checklist for real estate office audits in Alabama
  • Describe the Real Estate Consumer Agency Disclosure (RECAD)
  • Understand estimated closing statement requirements
  • Detail brokerage trust account requirements
  • Define the Alabama Fair Housing Act, including its requirements

This chapter is written by our professional instructors in clear, concise language so you can quickly and easily review the important material it contains. Because all of our courses are self-paced, you can spend as much or as little time as you need on each lesson. Your Dashboard helps you track your progress as you finish each section.

7 Lessons in Chapter 2: Alabama Real Estate Law & Statutory Requirements
Test your knowledge with a 30-question chapter practice test
Broker Responsibilities in Alabama Real Estate

1. Broker Responsibilities in Alabama Real Estate

Are you considering being a real estate broker? If so, learn what brokers are responsible for in Alabama and how to be fulfill your obligations to agents, clients, and other brokers.

Alabama Regulations for Qualifying Real Estate Brokers

2. Alabama Regulations for Qualifying Real Estate Brokers

In Alabama, there are several guidelines for qualifying brokers. Learn about many of the regulations qualifying brokers, temporary qualifying brokers, and associate brokers must follow.

Alabama Real Estate: Office Audits & Checklist

3. Alabama Real Estate: Office Audits & Checklist

Office audits are a possibility for all real estate brokerages, whether randomly selected or in response to a complaint against the broker or agent. Learn how to prepare for the audit and what information will be reviewed.

Alabama Real Estate Consumer Agency Disclosure (RECAD)

4. Alabama Real Estate Consumer Agency Disclosure (RECAD)

Establishing a relationship with a client includes setting up reasonable expectations and identifying the appropriate type of representation you will offer the buyer or seller. Learn how to navigate these steps.

Estimated Closing Statement Requirements in Alabama Real Estate

5. Estimated Closing Statement Requirements in Alabama Real Estate

When you are helping a buyer or seller with a home closing, there are documents that must be completed for a home closing. Learn what is required and how to complete a closing.

Brokerage Trust Account Requirements in Alabama Real Estate

6. Brokerage Trust Account Requirements in Alabama Real Estate

Holding earnest money deposits is a serious obligation of a real estate broker and must be handled accounting to Alabama's regulations. Learn what brokers are responsible for and how funds must be handled.

Alabama Fair Housing Act: Definition & Requirements

7. Alabama Fair Housing Act: Definition & Requirements

Your clients are protected by the Fair Housing Act that ensures they are not discriminated against if they are part of a protected class. Learn about the classes and how the requirements work in Alabama.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

Earning College Credit

Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.

To learn more, visit our Earning Credit Page

Transferring credit to the school of your choice

Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.

Support