452.40 Use of forms; provision of legal advice.

186 words·~1 min read·/wi/chapter-452/452-40

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)In this subsection, “use a form” means to complete a form by filling in blanks or modifying printed provisions on the form at the instruction of one or more parties with whom a licensee is working or representing in a specific transaction.

(b)A firm and any licensee associated with the firm may use a form approved by the board under s. 452.05

(b)in real estate practice.

(2)A licensee may not provide advice or opinions concerning the legal rights or obligations of parties to a transaction, the legal effect of a specific contract or conveyance, or the state of title to real estate. A licensee may provide a general explanation of the provisions in a form approved by the board under s. 452.05

(b)to the parties to a transaction at the time of completing the form or when delivering an approved form for the seller’s or buyer’s acceptance. Reviews conducted by a supervising broker under s. 452.132

(4)shall not be considered to be the provision of legal advice or opinion.