Section REEB 16.05 - Legal advice and practice of law(1) 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.(2) Notwithstanding sub. (1), a licensee may provide a general explanation of the provisions in an approved form 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.(3) A licensee may use approved forms only in those transactions in which the licensee is acting in a capacity as licensee or in which the licensee is a principal, and in either case the use of such forms is incidental to the real estate practice of the licensee.(4) A licensee may not make a separate charge for completing an approved form in connection with a transaction.Wis. Admin. Code Real Estate Examining Board REEB 16.05
Cr. Register, March, 1986, No. 363, eff. 4-1-86; CR 13-073: am. (1), (2) Register May 2014 No. 701, eff. 7-1-14.