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LEGAL EDITION
This is a special edition of Nevada REALTORS® weekly newsletter, dedicated to current real estate legal issues in the Silver State. You can view more NVR legal articles on our website: NevadaRealtors.org. Additionally, NVR's Legal Minute videos are available in the Association's video library. Click here to view those. |
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Business Email Compromise: Think Twice Before Clicking Send
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 Cybercrimes against real estate transactions are increasing and unsecured email correspondences are a target. REALTORS® need to beware that hackers can intercept emails between clients and real estate agents that could enable the thief to steal funds.
Further, you can be held liable to the victim for negligent cybersecurity, as was the case where a jury found in favor of the buyer and entered a verdict of $170,000 against the listing agent and broker (Bain v. Platinum Realty, LLC, D. Kan. 2018). It's crucial that all parties involved in the transaction are diligent in their communication and take necessary precautions to protect Personal Identifying Information (PII).
NVR's LIL Attorney Christal offers members some best practices based on Nevada law NRS 603A, along with information provided by the National Association of REALTORS® (NAR), as well as feedback from title companies. Click here to read more. |
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FAQ: Escrow and Title Companies
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 On a daily basis, the Legal Information Line receives calls from REALTORS® about title companies not doing what they want them to do. This FAQ provides information to help you understand and navigate common issues with title companies.
For instance ... Regarding title inducements, specifically filed wire fees, can a title agency waive such fees for a real estate broker? Can I ask my title company to split and send commission checks directly to non-brokers? ... We'll have the answer to these and more, just click here. |
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Legal Minute video -- Inducements
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 REALTORS® may be wondering if they can even offer inducements in advertising? The answer is yes, but it's important to be mindful of Nevada advertising laws which require all advertising to be truthful and not misleading.
Also, remember the REALTORS® Code of Ethics, which says inducements are not unethical. However, as a REALTORS®, you must exercise care and candor and the terms and conditions of the offer should be clear. Click here to watch the NVR Legal Minute video on inducements. |
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