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Enforcement serves a number of functions; the enforcement of social norms can ensure conformity within insular communities, [3] the enforcements of laws can maximize social benefits and protect the public interest, [4] and enforcement may also serve the self-interest of the institutions that oversee enforcement. [5]
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.
Zoning may include regulation of the kinds of activities that will be acceptable on particular lots (such as open space, residential, agricultural, commercial, or industrial), the densities at which those activities may be performed (from low-density housing such as single family homes to high-density such as high-rise apartment buildings), the ...
The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes a Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body ...
In 1922, the Supreme Court held in Pennsylvania Coal Co. v. Mahon that governmental regulations that went "too far" were a taking. Justice Oliver Wendell Holmes, writing for the majority of the court, stated that "[t]he general rule at least is that while property may be regulated to a certain extent, if regulation goes too far it will be recognized as a taking."
On the other hand, there are also industries that did not need regulation in the past, but are in need of it now. This includes for example the real estate market. Another category are the markets that encountered major changes in regulatory approaches due to various crises. A prime example are stock exchanges following stock market crashes. [2]
Real estate licensing is subject to both the Real Estate Law and the Regulations of the Commissioner, which have the force and effect of law. In enforcing the provisions of the Real Estate Law, the Commissioner has the authority to hold formal hearings involving a licensee or license applicant. The Commissioner also has the authority to issue ...
As of 2014, the Restatement's failure to address basic doctrines like adverse possession and real estate transfers had never been corrected over 75 years, three Restatements series, and 17 volumes. [2] In the 1970s, the Uniform Law Commission's project to standardize state real property law was a spectacular failure. [3] [4] [5]