Overview
Wisconsin licensees are kept in the "know" through the states required 18 hours of approved education. This course, number 5 in the series, focuses on the creation and management of trust funds, the proper use of the Real Estate Condition Report and closes out with a thorough discussion of Wisconsin Tenant/Landlord Laws.
There are no longer elective course requirements as part of the 18 required hours. This course satisfies the three-hour requirement for Course 5, Wisconsin Real Estate Law and Practice.
Learning Objectives
Upon completion, students will be able to:
- describe the types of accounts established for real estate trust funds in Wisconsin
- discuss the receipt and disbursement of earnest money
- explain bookkeeping responsibilities and accounting record keeping requirements associated with trust fund accounts
- describe the information disclosed in Wisconsin's seller disclosure forms
- discuss the rules regarding timeframes for seller disclosure and any subsequent amendments
- explain licensees' duties with regard to adverse material facts
- discuss listing contracts and tenant representation agreements used in landlord-tenant relations
- cite Wisconsin law regarding tenant security deposits
- discuss the notice requirements when terminating tenancy
Designed For
Wisconsin licensed brokers and salespersons