reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 1 - Definitions; General Provisions (Repealed) › Section 1-5 - "School director" defined

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 5.
"School director" means the individual responsible for real
				  estate school administrative matters such as program development, scheduling of
				  classes, advertising, maintaining facilities and equipment, recordkeeping, and
				  general supervision of the instructional program.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 1 - Definitions; General Provisions (Repealed) › Section 1-6 - Violations of statute and rules

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 4-21.5-3; IC 4-21.5-4; IC 25-34.1-5
Sec. 6.
(a) Failure
				of a real estate school to comply with the provisions of IC 25-34.1-5 and this
				article, shall subject it to denial of course approval or revocation or
				suspension of course approval as appropriate.
(b) If a real estate school fails to meet the
				requirements for course approval renewal established in IC 25-34.1-5-7 and
				876 IAC
				2-2-9, the renewal shall be denied.
(c) Under subsections (a) through (b), real
				estate schools shall be responsible for the actions of their employees and
				other agents.
(d) Notices of
				denials of course approval or renewals and administrative review of such
				denials are governed by IC 4-21.5-3-4 and IC 4-21.5-3-7.
(e) Institution of proceedings to revoke or
				suspend course approval is governed by IC 4-21.5-3-8. Emergency suspensions may
				be issued, where appropriate, under IC 4-21.5-4.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 1 - Definitions; General Provisions (Repealed) › Section 1-7 - Revocation, suspension, or denial of renewal of course approval; completion of courses

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 7.
In the event it suspends, revokes, or denies renewal of
				  course approval, the commission may, at its discretion, allow any course
				  already in progress to be completed.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 1 - Definitions; General Provisions (Repealed) › Section 1-7.5 - Payments of bond proceeds

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 7.5.
(a) If the
				commission does not allow completion of a course under section 7 of this rule
				or if a course cannot be completed by the school for any other reason, each
				student enrolled in the course, who has a valid legal cause of action against
				the school, would be entitled to reimbursement for the enrollment fee and the
				cost of any required text or material if not included in the enrollment fee
				(provided the student presents proof of payment in connection with the
				uncompleted course) from the school's bond proceeds if said money cannot be
				recovered from the school.
(b)
				Because the commission is obligee under the bonds of schools, payments from the
				proceeds of the bond shall be distributed to qualifying students by direction
				of the commission.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 1 - Definitions; General Provisions (Repealed) › Section 1-8 - Application for course approval; content

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 8.
(a) Any real
				estate school seeking approval of a broker or salesperson course shall make
				written application for approval and shall submit such documents, statements,
				and forms as required by IC 25-34.1-5-2 and this article, and as may be
				reasonably necessary to establish whether the school complies with the
				requirements of IC 25-34.1-5 and this article.
(b) The application shall state the name and
				address of the school's owner.
(c)
				The application shall list all instructors who will be teaching the course and
				include evidence that they comply with the qualifications established in 876
				IAC 2-3.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 2 - Real Estate Schools; General Requirements › Section 2-2 - Course location and times; notice to commission

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5-8
Sec. 2.
A list of course locations (which have been approved by the
				  commission under IC 25-34.1-5-8 and section 12 of this rule) and meeting times
				  must be submitted to the commission prior to commencement of each course
				  session.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 2 - Real Estate Schools; General Requirements › Section 2-5 - Course approval; school directors

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 5.
(a) The
				school director shall be identified in an application for course
				approval.
(b) The school director
				for a school which has applied for course approval shall be required to meet
				with the commission or its designee prior to approval of the course.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 3 - Instructors (Repealed) › Section 3-1 - Instructors; compliance with rule required

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
(a) All
				instructors employed by real estate schools must meet the requirements of this
				rule.
(b) The commission does not
				license instructors or directly approve them although it does evaluate them in
				approving courses and significant changes in courses.
(c) In the process of evaluating courses for
				original approval and significant changes relating to instructors, the
				commission or its designee may conduct a personal interview with proposed
				instructors.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 3 - Instructors (Repealed) › Section 3-2 - Instructors; examinations

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 2.
(a) Each
				instructor shall be:
(1) a licensed Indiana
				real estate broker or have passed the real estate broker examination;
				and
(2) have passed an instructor
				assessment program examination as specified by the commission with a score of
				seventy-five percent (75%) or higher.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 3 - Instructors (Repealed) › Section 3-3 - Instructors; qualifications

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 3.
(a) Each
				instructor shall possess at least one (1) of the following minimum
				requirements:
(1) Has a bachelor's degree
				with a major or minor in real estate from an accredited college or
				university.
(2) Has a bachelor's
				degree from an accredited college or university and has a minimum of two (2)
				years experience in real estate.
(3) Has an Indiana real estate broker license
				and has a minimum of five (5) years experience as a real estate broker in real
				estate practice as defined in
				876 IAC 1-1-3(n) and
				(p).
(4) Has a juris doctor or equivalent from an
				accredited law school and has a minimum of two (2) years experience in the
				subject matter to be taught in the course.
(5) Has two (2) years experience as a
				qualified instructor or professor in the business, finance, or economics
				department of an accredited college or university.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 3 - Instructors (Repealed) › Section 3-4 - Instructors; prohibitions

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 4.
A real estate school is prohibited from hiring, or retaining
				  in its employ, an instructor who:
(1)
				has had his or her real estate license revoked or suspended by any
				jurisdiction;
(2) has obtained or
				used, or attempted to obtain or use, in any manner, Indiana real estate
				licensing examination questions to be used on future examinations, unless
				authorized by law;
(3) has been
				convicted of a crime which has a direct bearing on the individual's ability to
				competently instruct including, but not necessarily limited to, violations of
				real estate laws and abuse of fiduciary responsibilities;
(4) has falsely certified hours of attendance
				or grades for any student;
(5) has
				violated
				876 IAC
				2-5-1 concerning recruiting during the educational
				process; or
(6) unless allowed by
				law, has refused to appear and/or testify under oath at any hearing held by the
				commission.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 4 - Conduct of Courses › Section 4-2 - Broker courses; hours of classroom instruction

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 2.
(a) A broker
				course shall consist of at least fifty-four (54) hours of classroom
				instruction.
(b) Each broker course
				shall be conducted on at least nine (9) different days with a maximum of six
				(6) hours of instruction per day.
(c) The examinations required under section
				6(b) of this rule may count toward the hours required by subsection
				(a).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-1 - Recruiting; prohibitions

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
(a) No
				licensee, or representative of a licensee, partnership, or corporation, and no
				school or representative of a school, or instructor shall engage in recruiting
				within the classroom and any other area that the student would have access to
				during the time class is in session, including breaks, such as the restroom and
				hallway. Recruiting is defined as any solicitation of a licensee or prospective
				licensee for employment or association by any licensed individual, partnership,
				or corporation, or the promotion of such an entity to induce employment or
				association.
(b) The distribution
				of any material or the wearing of any apparel which would identify a broker
				constitutes a violation of subsection (a).
(c) Responding to an inquiry from a student
				does not constitute a violation of subsection (a).
(d) If any individual violates subsection
				(a), schools and instructors shall be required to order violators to stop
				recruiting and report the activity to the commission for possible action
				against the violator.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-2 - Requirements concerning recruiting

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 2.
(a) The
				school shall distribute the following statement in writing, to each student at
				the beginning session of the course:
"No recruiting for employment or association opportunities
				  for any real estate broker is allowed in this class. You may report any effort
				  to recruit to (name of school director) at (telephone number and/or office
				  address) or the Indiana real estate commission at (317) 232-2980".
(b) Before beginning any duties on
				behalf of the school, all employees, including instructors, shall be required
				to sign a nonrecruiting agreement, on a form obtained from the commission,
				agreeing not to violate section 1 of this rule. The nonrecruitment agreement
				shall be retained by the school, and available to the commission upon
				request.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-3 - Student lists

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 3.
Unless required by law, no school may provide any name or
				  list of names of any potential licensee(s) or student(s) whether potential or
				  enrolled in any real estate school to anyone other than the commission, without
				  the individual's written consent.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-4 - Advertising

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 4.
(a) No school
				conducting an approved course of study shall advertise or make any reference in
				its advertising, promotional material, brochures, and/or registration forms
				that it is endorsed, recommended, or accredited by, or affiliated with, the
				commission or any other person, organization, university, or college.
(b) A school may indicate that a course of
				study has been approved by the commission, but may not indicate that any review
				course or supplemental course of instruction has the approval of the commission
				or any other person, organization, university, or college.
(c) To the extent a school is endorsed,
				recommended, approved, or accredited by, or affiliated with, another person,
				organization, university, or college, the restrictions of subsections (a)
				through (b) shall not apply.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-5 - Advertising; requirements

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 5.
(a) Schools
				are prohibited from engaging in false or misleading advertising.
(b) If a school's advertisement contains
				representations concerning the number or percentage of its students who pass
				the commission's broker or salesperson examination, the school shall retain
				information including the raw data and the calculation substantiating the
				accuracy of the representations and make it available to the commission upon
				request.
(c) The method of
				calculation of passing percentage under subsection (b) shall be as follows:
(1) Advertisement must state the period for
				which passing percentages are reported.
(2) Percentages must be based on first-time
				candidates taking the state licensing examinations for the period
				reported.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-6 - Real estate schools; prohibitions

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1
Sec. 6.
Real estate schools are prohibited from the following:
(1) Giving materially inaccurate or
				misleading information in an application for course approval or annual
				report.
(2) Deliberately falsifying
				or misrepresenting any information supplied to the commission or
				public.
(3) Possessing, claiming to
				possess, revealing, or distributing any questions used in the commission's
				broker or salesperson examinations.
(4) Having substantially failed to comply
				with the provisions of any contract or agreement entered into with a
				student.
(5) Failing to allow the
				commission or its designee to inspect the school or its records or failing to
				make available such information as required by IC 25-34.1-5 and this
				article.
(6) Having been convicted,
				or one (1) of its owners having been convicted, of a crime which has a direct
				bearing on the school's ability to conduct a real estate course including, but
				not necessarily limited to, violation of real estate laws and abuse of
				fiduciary responsibilities.
(7)
				Violating IC 25-34.1 or this title.
(8) Failing to notify the commission within
				thirty (30) days of the termination of its relationship with an instructor for
				cause.
(9) Paying or receiving a
				rebate or referral fee to any broker to recruit students.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 5 - Real Estate Schools; Miscellaneous Prohibitions (Repealed) › Section 5-7 - Real estate schools; performance standard

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5-9
Sec. 7.
(a) For any
				approved course, a school shall not have a percentage of its students in any
				year who pass the broker or salesperson course in their first attempt at a rate
				of less than fifty percent (50%) of the performance record of all first-time
				examinees.
(b) The method of
				calculation of a passing percentage under subsection (a), shall be the
				percentage of first-time candidates taking the state licensing examination for
				the year reported.
(c) If a school
				is in violation of subsection (a), it shall be given notice of the discovered
				violation and shall have six (6) months to come into compliance with subsection
				(a), before any action is taken under IC 25-34.1-5-9.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 6 - Fundamentals of Real Estate Salesperson Course; General › Section 6-4 - Textbooks and other instructional materials

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 4.
The required instructional materials and approved textbooks
				  for the salesperson course are found in
				  876 IAC
				  2-9-1.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 7 - Real Estate Salesperson Course; Major Subject Area Emphasis (Repealed) › Section 7-1 - Major subject area; number of course hours

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
The fundamentals of the real estate salesperson course are as
				  follows:
FUNDAMENTALS OF REAL ESTATE SALESPERSON PRELICENSING COURSE
				  MAJOR SUBJECT AREA EMPHASIS
Subject Area
Number of Course Hours
Basic real estate concepts and course overview
4.0
Property ownership and interests
3.0
Transfer of title to real property
2.0
Land use controls
1.0
Real estate brokerage and law of agency
3.0
Fair housing
1.0
Real estate contracts
6.0
Landlord and tenant (including leases)
1.0
Real estate financing
10.0
Closing real estate transactions
5.0
Basic house construction
1.0
Property valuation
7.0
Real estate management
1.0
Property insurance
1.0
Federal income taxation of home ownership
1.0
License law, commission rules, and trust account
						  guidelines
7.0
Total course hours
54.0
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-1 - Basic real estate concepts

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
(a) The
				competency and instructional level for subdivisions (1) through (4) is Level 1.
				The following are general characteristics of real estate:
(1) Terminology.
(2) Classes of property. (Cover in greater
				depth under section 2 of this rule.)
(3) The following characteristics of land:
(A) Immobility.
(B) Permanence.
(C) Uniqueness.
(4) The following characteristics of land:
(A) Scarcity.
(B) Permanence of investment.
(C) Location.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-2 - Property ownership and interest

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 2.
(a) The
				competency and instructional level for subdivisions (1) through (4) is Level 2.
				The competency and instructional level for subdivision (5) is Level 3. The
				following are concepts of property:
(1) The
				"bundle of rights" concept.
(2)
				Real property.
(3) Personal
				property.
(4) Lands, minerals,
				fruits of the soil.
(5) The
				following fixtures:
(A) Definition.
(B) Criteria for determining if item is a
				fixture. (Students should be able to apply these criteria to common fact
				situations.)
(C) Trade and
				agricultural fixtures.
(D) Effect
				of Uniform Commercial Code concerning security interests in fixtures.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-3 - Transfer of title to real property

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 3.
(a) The
				competency and instructional level for subdivisions (1) through (4) is Level 1.
				The following are concepts of methods of transferring title:
(1) By descent (interstate
				succession).
(2) By will.
(3) By voluntary alienation (deed). (Cover in
				greater depth under subsection (b).)
(4) By involuntary alienation as follows:
(A) Lien foreclosure sale.
(B) Adverse possession.
(C) Escheat.
(D) Eminent domain (condemnation).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-4 - Land use controls

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 4.
(a) The
				competency and instructional level for the historical development of land use
				controls is Level 1.
(b) The
				competency and instructional level for land use control importance to real
				estate agents is Level 1.
(c) The
				competency and instructional level for subdivision (1) is Level 2. The
				competency and instructional level for subdivisions (2) through (7) is Level 1.
				The following are concepts of land use controls:
(1) The following zoning classifications (Use
				actual local zoning ordinances, zoning maps, classification charts and tables
				of permitted uses; students should know how to determine the zoning
				classification and permitted uses for property subject to a zoning ordinance.):
(A) Basis for governmental zoning
				authority.
(B) Purpose of zoning
				regulations.
(C) Zoning
				districts.
(D) Zoning
				ordinances.
(E) The following
				zoning concepts and terms:
(i) Nonconforming
				use.
(ii) Illegal use.
(iii) Zoning amendments.
(iv) Variance.
(v) Special use permit (or special
				exception).
(vi) Overlay
				districts.
(vii) Historic
				preservation zoning.
(viii)
				Aesthetic zoning.
(ix) Spot
				zoning.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-5 - Real estate brokerage; law of agency

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 5.
(a) The
				competency and instructional level for general agency concepts and definitions
				for real estate brokerage and law of agency is Level 2.
(b) The competency and instructional level
				for subdivisions (1) through (3) is Level 2. The following are concepts of the
				classification of agency relationships:
(1)
				Universal.
(2) General.
(3) Special.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-6 - Fair housing

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 6.
(a) The
				competency and instructional level for subdivisions (1) through (3) is Level 2.
				The following are concepts of the Fair Housing Act of 1968 (Title VIII of 1968
				Civil Rights Act):
(1) Discrimination in the
				sale or rental of housing based on race, color, religion, sex, or national
				origin as follows:
(A) Blockbusting (or
				"panic peddling").
(B)
				Steering.
(C) Discriminatory
				advertising.
(D) Refusing to sell,
				rent, or negotiate based on race, etc.
(E) Discrimination in terms, conditions, or
				privileges.
(F) Discrimination in
				the financing of housing ("redlining" and related practices).
(G) Discrimination in provision of brokerage
				services.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-7 - Real estate contracts

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 7.
(a) The
				competency and instructional level for subdivisions (1) through (6) and (10) is
				Level 2. The competency and instructional level for subdivisions (7) through
				(9) is Level 1. The following are concepts of basic contract law:
(1) The following basic contract terms and
				classifications:
(A) Definition of a
				contract.
(B)
				Express/implied.
(C)
				Bilateral/unilateral.
(D)
				Executed/executory.
(E) Valid
				(enforceable)/void (unenforceable) /voidable.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-8 - Landlord and tenant

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 8.
(a) The
				competency and instructional level for subdivisions (1) through (2) is Level 2.
				The following are concepts of landlord and tenant relationship:
(1) Definitions: landlord (lessor), tenant
				(lessee), lease.
(2) Privity of
				estate and privity of contract concepts.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-9 - Real estate financing

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 9.
(a) The
				competency and instructional level for subdivisions (1), (2)(A) through (2)(B),
				(2)(E), and (3) through (5) is Level 2. The competency and instructional level
				for subdivisions (2)(C) through (2)(D) is Level 3. The following are concepts
				of mortgages:
(1) The following are basic
				mortgage terms and concepts:
(A) Definitions:
				mortgage, mortgagor/mortgagee; trustee, beneficiary, grantor.
(B) Right (equity) of redemption.
(C) Foreclosure and statutory redemption
				period.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-10 - Closing real estate sales transactions

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 10.
(a) The
				competency and instructional level for subdivisions (1) through (3) is Level 3.
				(The prevalent closing method used in Indiana. Remainder of section on
				"closing" is based on this method.) The following are concepts of the closing
				meeting:
(1) Parties present or
				represented.
(2) Location where
				meeting is conducted.
(3) Parties
				responsible for closing.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-11 - Basic house construction

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 11.
(a) The
				competency and instructional level for subdivisions (1) through (2) is Level 1.
				(The purpose of this section is to provide the student with an elementary
				knowledge of basic house construction principles, techniques, and terminology
				which will assist the student in listing, showing, and selling such properties.
				Study is limited to wood frame (including brick veneer) type of construction
				because of its predominant use in Indiana. Extensive use of handout material is
				recommended due to limited class time.) The following are concepts of
				architectural types and styles:
(1) The
				following basic types:
(A) One (1) story
				(ranch).
(B) One and one-half (1
				1/2) story.
(C) Two (2)
				story.
(D) Split-level.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-12 - Real property valuation; appraisal

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 12.
(a) The
				competency and instructional level for subdivisions (1) through (5) is Level 2.
				The following are basic appraisal concepts:
(1) Definition of "appraisal" including the
				following:
(A) Who can perform.
(B) Liability.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-13 - Real estate management

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 13.
(a) The
				competency and instructional level for subdivisions (1) through (2) is Level 2.
				The following are concepts of real estate management:
(1) Purpose of real property
				management.
(2) Types of properties
				requiring management as follows:
(A)
				Residential.
(B)
				Commercial.
(C)
				Industrial.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-14 - Property insurance

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 14.
(a) The
				competency and instructional level for subdivisions (1) through (4) is Level 1.
				The following are basic property insurance concepts and terminology:
(1) Insurer and insured.
(2) Property (fire and other hazard)
				insurance.
(3) Liability
				insurance.
(4) Package insurance
				policy.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-15 - Federal income taxation of homeownership

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 15.
(a) The
				competency and instructional level for subdivisions (1) through (2) is Level 3.
				The following are concepts of deductions from income for homeowners:
(1) Real property taxes.
(2) Mortgage interest (limited
				deductions).
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-16 - Real estate license law, commission rules and regulations; escrow account guidelines

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 16.
In-depth knowledge of the Indiana Real Estate License Laws
				  and Rules and Regulations booklet is required. Competency and instructional
				  level is Level 3.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 8 - Real Estate Salesperson Course; Outline (Repealed) › Section 8-17 - Real estate mathematics

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 17.
(a) The
				competency and instructional level for real estate mathematics is Level 1 or
				Level 2. This section is included only for the purpose of listing in one (1)
				place the types of applied real estate mathematics calculations which students
				should master in this course. As a practical matter, it will be necessary to
				cover most of these various mathematics calculations at various points during
				the course. It is not feasible to cover all real estate mathematics required in
				the course as a separate subject area, although instructors may wish to have a
				"review" on real estate mathematics near the end of the course.
(b) It should be noted that the mathematics
				listed below is applied real estate mathematics. This course outline does not
				provide for instruction in basic mathematics such as addition, subtraction,
				multiplication, division, decimals, fractions, or percentages. It is presumed
				that entering students possess these elementary mathematical skills. Should it
				be necessary to provide students with remedial instruction in basic
				mathematics, schools must include additional time for such instruction over and
				above the minimum time required for this course.
(c) Instructors will note that competency and
				instructional levels are not assigned to topics in this section. Since all the
				topics (types of mathematics calculations) listed should be "mastered" by
				students, it is considered obvious that a working knowledge of these topics is
				required. Students are still expected to have a working knowledge of the
				mathematics associated with such topics.
(d) Types of applied real estate mathematics
				calculations include the following concepts of brokerage commissions:
(1) On sales.
(2) On rentals.
(3) Commission splits.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-1 - Course description

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
(a) The real
				estate broker course consists of advanced level instruction in real property
				ownership and interests, transfer of title to real property, land use control,
				real estate brokerage and the law of agency, real estate contracts, landlord
				and tenant law, closing real estate transactions, federal income taxation of
				real estate, the Indiana real estate license statute, rules of the Indiana real
				estate commission, and basic securities law aspects of real estate
				transactions; major aspects of financing real estate transactions, including
				sources of mortgage funds, the secondary mortgage market, financing
				instruments, types of mortgage laws, underwriting mortgage loans, consumer
				legislation concerning real estate sales transactions, finance mathematics; and
				aspects of real estate brokerage operations, including records and bookkeeping
				and financial operations.
(b)
				Students should be made aware that in addition to the content of the broker
				course, they are also responsible for material covered in the salesperson
				course as it represents basic knowledge necessary to proficient performance as
				a real estate broker.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-2 - Course objectives

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 2.
The primary objectives of this course are:
(1) to provide students with the knowledge of
				real estate law necessary to act as real estate brokers; and
(2) to prepare students for the real estate
				license examination.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-3 - Syllabus

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 3.
The course syllabus in 876 IAC 2-11 through 876 IAC 2-14 is
				  established by the Indiana real estate commission to establish minimum content
				  level for the broker course.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-4 - Textbooks and other instructional materials

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 4.
The required instructional materials and approved textbooks
				  for the broker course are found in
				  876 IAC
				  2-15-1.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-5 - Instructors

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 5.
Instructors who meet the requirements of 876 IAC 2-3 may
				  teach all subject areas included in this course. It should be noted that very
				  few instructors actually possess the desired level of competency in each and
				  every subject area. For this reason, schools are encouraged to utilize guest
				  lecturers with specialized knowledge and skills in specific areas in addition
				  to the primary instructor.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-6 - Order of subject area presentation

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 6.
The order in which subject areas are presented in
				  876 IAC
				  2-11-1 and 876 IAC 2-12 is the recommended order.
				  Instructors may make reasonable adjustments in the order of presentation, but
				  should retain a logical order of presentation in any event.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-7 - Major subject area emphasis

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 7.
Subject area emphasis by major subject area has been provided
				  in 876 IAC 2-11 in the form of a specific number of classroom hours to be
				  devoted to each major subject area. Instructors may make reasonable adjustments
				  in subject area emphasis to suit their class schedules and individual
				  preference; however, instructors are cautioned against undue overemphasis or
				  underemphasis of topics.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-9 - Mathematics instruction

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 9.
876 IAC 2-11 through 876 IAC 2-14 establishes instruction on
				  mathematical functions relating to real estate practice to be provided under
				  the various subject areas involving such mathematical functions rather than as
				  a separate subject area. Consideration was given to the amount of mathematics
				  involved in each subject area when establishing the number of classroom hours
				  for subject areas. This integrated approach is required because it helps assure
				  that students understand how various mathematical functions relate to the
				  various areas of real estate practice. Instruction in basic mathematics
				  concepts such as decimals, fractions, percentages, multiplication, division,
				  etc., is not included in 876 IAC 2-11 through 876 IAC 2-14. If such basic
				  mathematics instruction is to be included in any real estate course, additional
				  time above the minimum required for such course must be provided for such
				  instruction.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-10 - Syllabus copies

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 10.
(a) Copies
				of this rule and 876 IAC 2-11 through 876 IAC 2-14 will be provided free of
				charge by the Indiana real estate commission to approved schools and
				instructors. School officials and instructors are asked, however, to limit
				requests for copies to that number which is actually needed for use by schools
				and instructors. Schools and instructors may be asked to justify any request
				for an unusually large number of copies.
(b) The Indiana real estate commission will
				not provide copies of this rule and 876 IAC 2-11 through 876 IAC 2-14 for
				student use, although schools and instructors may reproduce all or part of this
				rule and 876 IAC 2-11 through 876 IAC 2-14 for student use at their own
				expense, and may charge students for the cost of reproduction.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 10 - Fundamentals of Real Estate Broker Course; General › Section 10-11 - Level of instruction

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 11.
(a) Although
				this is a broker course, most of the subject areas covered in this course are
				also covered in the fundamentals of real estate salesperson course which
				students will have previously completed. This duplication of material is
				unavoidable because of the necessity to cover a broad range of real estate
				topics in the salesperson course. The only subject areas covered in this course
				which are not covered to some extent in the salesperson course are
				"Introduction to Real Estate Law", "Securities Law", and the sections of
				"Federal Income Taxation of Real Estate" relating to investment property. All
				other subject areas are covered in both courses, although the "competency and
				instructional levels" assigned to such subject areas in this course are usually
				higher than the levels assigned in the salesperson course.
(b) In general, instruction in the broker
				course should be at a more advanced level than instruction in the salesperson
				course. Emphasis generally should be on providing students with an in-depth,
				practical working knowledge of the subject material. Remember, this is an
				advanced course, not an introductory level course. The two (2) major subject
				areas that should receive the greatest emphasis in this course are "Real Estate
				Contracts" and "Closing Real Estate Transactions". The Indiana real estate
				commission has found that many licensed brokers have an inadequate
				understanding of real estate contracts and are unable to properly complete form
				contracts in some situations. Also, license examination performance on closing
				statement problems has historically been very poor. Consequently, instructors
				should place substantial emphasis on practice preparation of contracts and
				closing statements.
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 11 - Real Estate Broker Course; Major Subject Area Emphasis › Section 11-1 - Major subject area; number of course hours

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
The fundamentals of the real estate broker course are the
				  following:
FUNDAMENTALS OF REAL ESTATE BROKER PRELICENSING COURSE
				  MAJOR
SUBJECT AREA EMPHASIS
Subject Area
Number of Course Hours
REAL ESTATE LAW
Introduction to real estate law and course overview
1.0
Property ownership and interests
1.0
Transfer of title to real property
1.0
Land use controls
1.0
Real estate brokerage and the law of agency
3.0
Real estate contracts
8.0
Landlord and tenant
1.0
Closing real estate transactions
9.0
Federal income taxation of real estate
3.0
License law; commission rules and trust account
						  guidelines
5.0
Securities law aspects of real estate transactions
1.0
REAL ESTATE BROKERAGE OPERATION
Earnest money accounts
4.0
REAL ESTATE FINANCE
Introduction to real estate finance
2.0
Sources of mortgage funds
1.0
The secondary mortgage market
1.0
Financing instruments
1.0
Types of mortgage loans
2.0
Residential loan underwriting
2.0
Income property loan underwriting
1.0
Consumer legislation affecting real estate financing
1.0
Real property valuation
5.0
Total course hours
54.0
Indiana Administrative Code › Title 876 - INDIANA REAL ESTATE COMMISSION › Article 2 - REAL ESTATE COURSES AND LICENSING REQUIREMENTS FOR BROKERS AND SALESPERSONS › Rule 12 - Real Estate Broker Course; Outline › Section 12-1 - Introduction to real estate law

Current through July 10, 2024
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-5
Sec. 1.
(a) The
				competency and instructional level for scope and purpose of course is Level
				Sec. 1.
(b) The competency and
				instructional level for subdivisions (1) through (3) is Level 1. The following
				are concepts of types (sources) of real estate law (Use examples relating to
				real estate in explaining each type (source) of law.):
(1) Statutory law (arising from the political
				process) including the following:
(A)
				Constitutions: federal, i.e., Fifth Amendment, which provides that "no person
				shall be . . . deprived of life, liberty or property without due process of
				law; nor shall private property be taken for public use without just
				compensation".
(B) The following
				statutes:
(i) Federal, i.e., RESPA: National
				Housing Act (establishing the FHA), Fair Housing Act, and many
				others.
(ii) State, i.e., Indiana
				real estate license law.
(C) Ordinances (county and municipal, i.e.,
				zoning ordinances, fire and building codes).