The proposed new law seeks the

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The House Bill 1529 proposes to repeal Act 10 of 1994, which governs justin bieber baby the present practice of real estate business and profession of brokers, dealers and companies engaged in the sale of real estate. justin bieber baby
He explained that under the jurisdiction of the Board of Realtors, the Inspector would be responsible for investigating justin bieber baby violations in the industry, as operating without a license or with expired licenses.
The proposed new law seeks the "process justin bieber baby automation" on the board. It would require the public availability of updated electronic inventory justin bieber baby of all licenses issued and outstanding. It also establishes new criteria for testing internship in obtaining, renewing or reactivating licenses Holy Rodriguez reported.
According to the legislator, the project seeks to further professionalize justin bieber baby the practice of real estate broker since "is tempered to the evolution of a market more automated and technologically advanced."
According to Holy Rodriguez, the measure also "protects consumers when engaging in any transaction in which a broker mediates and promotes the development and strengthening of the industry".
"Puerto Rico has evolved over the past 20 years and the challenges faced by the real estate market has been remarkable, as it has been subject to the challenges of a national crisis by high numbers of foreclosures, repossessions, decline in sales, compliance justin bieber baby criteria tighter financing and inventory of properties like never before seen in Puerto Rico, "he said.
Immediately, explained that "the wording of the measure was the result of listening and evaluating the recommendations of individuals and organizations with experience and expertise justin bieber baby in the field of real estate" as the Realtors Association of Puerto Rico, among others.
In its preamble, the bill provides that Act 10 was no longer a tool-promoting consumer protection and foster an atmosphere urges to professionalize the business of real estate.
Given the changes in the market are imposed justin bieber baby stricter criteria for approval of mortgage banking and modern educational techniques, among other considerations addressed by the project, as its propellant.
The proposed new law provides specific attention to the organizational structure of the Board of Realtors, Sellers and Real Estate Companies, composition, powers and duties, the establishment of mechanisms to provide justin bieber baby adequate access to such Board funds due to them as well how to restructure the requirements and methodologies for vocational education, said the lawmaker.
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