Legal Hotline Year in Review
Louisiana REALTORS • February 4, 2020
SUMMARY OF 2018 AND 2019 HOTLINE QUESTIONS
By: Patricia B. McMurray, JD and Melissa M. Grand, JD
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC
450 Laurel Street, Chase Tower North, 21st Floor
Baton Rouge, Louisiana 70801
The Louisiana REALTORS® maintains a Legal hotline for Brokers to ask questions affecting the real estate industry as a whole. The hotline does not provide legal advice but provides general information. It is important to note that the laws and court decisions affecting these responses to these questions may change as new laws are passed and new court decisions are published. The topics commonly asked are as follows:
- COMMISSION INQUIRIES.
- CONTRACT TERMINATION INQUIRIES.
- DEPOSIT INQUIRIES.
- ETHICS INQUIRIES.
- LISTING AGREEMENT INQUIRIES.
- MLS INQUIRIES.
- PROCURING CAUSE INQUIRIES.
- PROPERTY DISCLOSURE INQUIRIES.
- PROPERTY MANAGEMENT AGREEMENT INQUIRIES.
- PURCHASE AGREEMENT INQUIRIES.
- RENTAL INQUIRIES.
- RESPA INQUIRIES.
- SERVICE ANIMAL INQUIRIES.
- MISCELLANEOUS INQUIRIES.
Click below to view a fully-indexed summary of the questions and answers from the 2018 and 2019 hotline.
DISCLAIMER:
These materials are to be used for informational purposes and should not be construed as specific legal advice. These materials are not designed to cover every aspect of a legal situation for every factual circumstance that may arise regarding the subject matter included. This publication is for reference purposes only and association members or other readers are responsible for contacting their own attorneys or other professional advisors for legal or contract advice. The comments provided herein solely represent the opinions of the authors and is not a guarantee of interpretation of the law or contracts by any court or by the Louisiana Real Estate Commission.New Paragraph
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From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple announced today that the Louisiana Department of Insurance (LDI) continues its work to develop a regulation creating benchmark discounts for Fortified roofs in Louisiana. The LDI is working with the National Association of Insurance Commissioners (NAIC) to develop the benchmark discounts using Louisiana-specific data, hurricane modeling and actuarial considerations. “With over 11,000 Fortified roofs in Louisiana and two years-worth of insurer experience with rating for those roofs in our state, now is an appropriate time for the LDI to establish benchmark discounts for homeowners insurance companies operating in our market,” said Commissioner Temple. “These benchmarks are being thoughtfully developed to help consumers receive the discounts they deserve for fortifying their homes while making sure insurers know the benchmarks reflect how much Fortified roofs actually mitigate their exposure to risk across Louisiana.” Like in Alabama’s Fortified benchmark discount structure, the LDI regulation would require Louisiana insurance companies to either meet the minimum benchmark discount established by the LDI or provide actuarial justification for why the company’s discount does not meet the benchmark. Louisiana is the fastest growing state for Fortified roofs in America. To date, over 11,000 Fortified roofs have been installed in Louisiana, including over 4,100 through the Louisiana Fortify Homes Program.
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