Wis. Stat. § 452.40

Current through Acts 2023-2024, ch. 272
Section 452.40 - Use of forms; provision of legal advice
(1)
(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(1) (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(1) (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.

Wis. Stat. § 452.40

Added by Acts 2015 ch, 258,s 175, eff. 7/1/2016.