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Plan to attend D.C. Hill Visits NAR Midyear Legislative Meetings and Trade Expo May 12-17th The Michigan Association of REALTORS®, along with the National Association of REALTORS® is once again organizing the annual Midyear visits to Washington D.C. This year’s visits will take place May 12-17th. The purpose of this trip is for members to interact with government officials on the federal level and have their voices heard regarding legislation that directly impacts the real estate industry. These “Hill Visits” impact the legislative process by allowing members to express their concerns or support of particular legislation that the Senator or Representative may vote on. There have been a number of Hill Visits already scheduled, with additions to follow. If you would like to be included in the meetings, plan on arriving at the designated time and place for that particular legislator. Please check the link below frequently to see when the visits have been set up with various Representatives or Senators. http://www.mirealtors.com/advocacy/capitolhillvisits08.html For additional Hill Visit information, please visit NAR’s Web site at: http://www.realtor.org/midyear.nsf/pages/homepage RPAC: Working for You! Governor Signs Important REALTOR® Legislation What a month for Michigan’s REALTORS®! There have been many issues recently swirling about Lansing that have seen action. From taxation reform to fighting mortgage fraud and providing foreclosure relief, the voice of the MAR membership has been strong in the Capitol. A few recent accomplishments: Second Principal Residence Exemption signed into law as Public Act 96 of 2008 Public Act 96 enables a person who has established a new principal residence to retain a Principal Residence Exemption (PRE) on property previously exempt as the owner’s principal residence by submitting a Conditional Rescission of Principal Residence Exemption Form #4640. Tame the Change at MAR's 2008 Convention & Expo Save the date, MAR's 2008 Convention & Expo is September 17-19, 2008, and plans are underway for another valuable event. "Tame the Change" for a themeless Convention, that will focus on the latest trends for knowledge sessions, and as always will be offering CE credit opportunities. With a variety of networking opportunities, there is no better place to connect with other REALTORS®. Online registration will be open this Friday, May 2nd. The Convention is being held at the Detroit Marriott at the Renaissance Center, in the heart of all that is happening in Detroit. Enjoy big city dining, shopping, entertainment and nightlife, while attending the largest real estate event in Michigan. Get ready and watch the Convention promo video, and for the latest Convention information, visit the MAR Web site. Fair Housing Events Successful in April The annual Fair Housing Symposium, presented by the Southeastern Michigan Coalition for Fair Housing in recognition of Fair Housing Month was once again a success. The event was held at Shriners Auditorium in Southfield on April 25, and was presided over by the coalitions president, Furhad Waquad. National Brownfields Conference Comes to Detroit The National Brownfields Conference is the largest, most comprehensive conference focused on cleaning up and redeveloping abandoned, underutilized, and potentially contaminated properties in the nation. The 2008 conference will take place at the Cobo Center in Detroit May 5 - 7. There is no better deal in the redevelopment marketplace than Brownfields 2008. Why? Because registration is free for attendees. Gain access to more than 130 educational and learning opportunities, outstanding plenary sessions, 200 exhibitors, scores of networking events, special training sessions, film screenings, book signings, and much, much more. Online pre-registration is now closed, but you may register onsite in Detroit at the Cobo Center beginning May 4th! With the help of McClelland & Anderson, we are taking the most commonly asked questions from our legal hotline and putting them in e-news. We will be featuring a different question each issue. QUESTION: I am representing a buyer to a purchase agreement in which the buyer and seller have agreed that the earnest money is to be held by a title company. Is it legal for me to deliver the check to the title company? ANSWER: YES. Section 339.2512(j)(vi) of the Occupational Code states: If a purchase agreement signed by a seller and purchaser provides that a deposit be held by an escrowee other than a real estate broker, a licensee in possession of such a deposit shall cause the deposit to be delivered to the named escrowee within 2 banking days after the licensee has received notice that an offer to purchase is accepted by all parties. REALTORS® should understand that title companies are not subject to the requirements of Article 25 of the Occupational Code and may have their own rules as to how funds will be held and under what terms they will be released. Often title companies will only hold earnest money deposits if the parties execute a separate escrow agreement.
Calendar of Events For more information, check the events page and the education calendar.
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