A "kickback" is an illegal fee paid to a transaction agent in exchange for referring someone to a service, even when the agent is already providing another service in the transaction for a fee. Both state laws and the Real Estate Settlement Procedures Act (RESPA) forbid this type of payment.
These are questions that the above text answers:
1. What is a kickback in the context of real estate transactions?
2. What is the purpose of the Real Estate Settlement Procedures Act (RESPA)?
3. What is the legal status of kickbacks in real estate transactions?
4. What is the consequence of paying kickbacks in real estate transactions?
5. What is the role of state laws in prohibiting kickbacks?
6. What is the definition of a kickback in the context of real estate law?
7. What is the penalty for violating the Real Estate Settlement Procedures Act (RESPA)?
8. How does the Real Estate Settlement Procedures Act (RESPA) protect against kickbacks in real estate transactions?