Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed
Real Estate Settlement Procedures Act (RESPA): Federal law requiring lenders to provide home buyers with information about real estate settlement costs and prohibiting kickbacks and referral fees
Garn-St. Germain Depository Institutions Act: Federal law governing due-on-sale clauses and mortgage assumptions, specifying circumstances where lenders must allow assumption of mortgages
Equal Credit Opportunity Act: Federal law prohibiting discrimination in lending based on race, color, religion, national origin, sex, marital status, age, or participation in public assistance programs
Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on protected characteristics
State Real Estate Laws: State-specific regulations governing real estate transactions, property rights, and transfer requirements
State Contract Laws: State-specific regulations governing formation and enforcement of contracts, including required elements and remedies
State Mortgage Laws: State-specific regulations governing mortgage transactions, foreclosure procedures, and borrower rights
State Recording Requirements: State-specific rules for recording real estate documents and maintaining public records of property ownership
Due-on-Sale Clause Provisions: Contract provisions allowing lender to accelerate loan payment upon property transfer, subject to assumption restrictions
Lender Approval Requirements: Specific conditions and procedures required by the original lender for approving the mortgage assumption
Uniform Commercial Code (UCC): Standardized regulations governing commercial transactions, including secured transactions and property transfers
Property Transfer Tax Laws: State and local tax regulations governing the taxation of real property transfers
Title Insurance Requirements: Legal requirements and standards for title insurance coverage protecting against property ownership disputes
Recording Requirements: Local and state requirements for recording property transfers and mortgage assumptions in public records
