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Wisconsin Statutes Regulation and Licensing (Ch. 440 to 480) § 452.40. Use of forms; provision of legal advice

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Wisconsin Statutes Regulation and Licensing (Ch. 440 to 480) § 452.40. Use of forms; provision of legal advice - last updated January 01, 2025 | https://codes.findlaw.com/wi/regulation-and-licensing-ch-440-to-480/wi-st-452-40/

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