Affiliated Business Arrangement FAQs
Q: Where can I find more information regarding affiliated business arrangements?
A: For information regarding Affiliated Business Arrangements please see the Real Estate Manual.
Q: What are some examples of settlement services that need to be disclosed to the Division of Real Estate?
A: “Settlement Service” means any service provided in connection with a real estate settlement including, but not limited to, the following:
(I) title searches;
(II) title examinations;
(III) the provision of title certificates;
(IV) title insurance;
(V) services rendered by an attorney;
(VI) the preparation of title documents;
(VII) property surveys;
(VIII) the rendering of credit reports or appraisals;
(IX) real estate appraisal services;
(X) home inspection services;
(XI) services rendered by a real estate broker;
(XII) pest and fungus inspections;
(XIII) the origination of a loan;
(XIV) the taking of a loan application; (XV) the processing of a loan;
(XVI) underwriting and funding of a loan;
(XVII) escrow handling services;
(XVIII) the handling of the processing; and
(XIX) closing of settlement.
Q: When and who should disclose affiliated business arrangements to the Division of Real Estate?
A: Disclosures shall be made:
- At the time of a new application for active licensure or at the time of activation of an inactive license, the licensee shall disclose to the Commission the names of all affiliated business arrangements to which the licensee is a party. The written disclosure shall include the physical location of the affiliated business.
- On an annual basis, each employing broker shall disclose to the Commission the names of all affiliated business arrangements to which the employing broker is a party. The written disclosure shall include the physical location of the affiliated business.
Q: Where can I find the Online Disclosure Form?