This act requires disclosure of information about the services and costs involved at the time of settlement when property is transferred from seller to buyer.
A) The Safe Real Estate Purchase Act
B) The Electronic Funds Transfer Act
C) The Real Estate Settlement Procedures Act
D) The Consumer Leasing Act

Question

Quizplus · Accepted Answer

The Real Estate Settlement Procedures Act (RESPA) requires disclosure of information about the services and costs involved at the time of settlement when property is transferred from seller to buyer. This act aims to ensure that consumers are not subjected to unjustified settlement costs and receive helpful information about the settlement process.

This Act Requires Disclosure of Information About the Services and Costs