Under the federal Fair Housing Act as mirrored by South Carolina's state fair housing law, certain transactions are exempt from familial status protections. Which of the following is NOT a recognized exemption from the familial status provisions?
Correct Answer
A) Single-family homes sold or rented by a private owner who owns more than three such homes
A private owner who owns MORE than three single-family homes does NOT qualify for the private owner exemption and is therefore NOT exempt from fair housing requirements, including familial status protections. The private owner exemption under the Fair Housing Act applies only to owners of THREE OR FEWER single-family homes who also do not use a broker and do not use discriminatory advertising. Owning more than three homes disqualifies the owner from this exemption, making option C not a recognized exemption.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
Advertising regulations govern how real estate licensees may market properties and services, requiring truthful, non-deceptive advertising that includes proper identification of the brokerage.
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