Sentences with phrase «duly licensed broker»
These states also prohibit paying referral fees to any person or entity, including a relocation company, that isn't a duly licensed broker.
http://realtormag.realtor.org/ Not exact matches
(viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act of 1987.
«Credit Services Organization» does not include any of the following: (i) a person authorized to make loans or extensions of credit under the laws of this State or the United States who is subject to regulation and supervision by this State or the United States, or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act (12 U.S.C. Section 1701 et seq.); (ii) a bank or savings and loan association whose deposits or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation, or a subsidiary of such a bank or savings and loan association; (iii) a credit union doing business in this State; (iv) a nonprofit organization exempt from taxation under Section 501 (c)(3) of the Internal Revenue Code of 1986, [FN1] provided that such organization does not charge or receive any money or other valuable consideration prior to or upon the execution of a contract or other agreement between the buyer and the nonprofit organization; (v) a person licensed as a real estate broker by this state if the person is acting within the course and scope of that license; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act olicense; (vi) a person licensed to practice law in this State acting within the course and scope of the person's practice as an attorney; (vii) a broker - dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation; (viii) a consumer reporting agency; and (ix) a residential mortgage loan broker or banker who is duly licensed under the Illinois Residential Mortgage License Act oLicense Act of 1987.
In relevant part, the Act states that» [n] o action or suit shall be instituted... in any court of this State by... corporation for compensation for any act done or service performed... unless... corporation was duly licensed hereunder as a broker or salesperson.»
Board of Managers v. Management Consultants (170 A.D. 2d 636) question of fact whether broker duly licensed at time of contracting with plaintiff.
Any partner who acts as a real estate broker under the name of the partnership (including the attorney) must be duly licensed as a broker
Town & Country Southampton, Inc. v. Grey (299 A.D. 2d 541)-- to recover a commission, a broker must establish that he or she is duly licensed, that he or she has a contract, express or implied, with the party charged with paying the commission, and that he or she was the procuring cause of the sale or lease; broker's unsupported and conclusory allegation of bad faith failed to raise triable issues of fact where defendant's made prima facieshowing of entitlement to judgment as a matter of law on the ground that neither the broker or its agent was a procuring cause of the lease.
Residential Real Estate Agent: A person duly licensed to negotiate and arrange residential real estate sales under the supervision of a real estate broker.
Section § 442 entitled «Splitting Commissions», was first enacted in 1922 and originally provided that no real estate broker shall pay any part of a fee, commission or other compensation received by the broker to any person for any service, help or aid rendered by such person to the broker in buying, selling, exchanging, leasing, renting or negotiating a loan upon any real estate unless such person is a duly licensed real estate broker or real estate salesperson associated with the broker.
DEPOSIT MONEY: Seller is advised to have an attorney, title company, or the Buyer's broker (provided that Seller has determined that such Buyer's broker is duly licensed and maintains an escrow account) hold the escrow monies, subject to all applicable Tennessee laws, regulations, and customary procedures.
As now constituted, Section § 442 restricts the activities of unlicensed persons in regulated real estate transactions by prohibiting a broker from (1) paying any part of its commission to another for help rendered by such person to the broker in the buying, selling, exchanging, leasing, renting or negotiation of a loan on real estate, including condominium resales, unless such person is a duly licensed real estate broker or salesman regularly associated with the broker and (2) prohibiting the broker from paying any part of its commission to any party to the transaction unless such party is duly licensed.
Looking at the New York real estate license law, the court found that no one could bring a lawsuit seeking a payment «for services rendered... in the buying, selling, exchanging, leasing, renting or negotiating loan upon any real estate without [being]... a duly licensed real estate broker or real estate salesman on the date the cause of action arose.»
The court looked to the relevant Connecticut licensing statutes and determined that according to Connecticut law, «competent real estate brokers who are duly licensed and currently practicing in other states with licensing requirements and reciprocity provisions similar to Connecticut's will be given preferential treatment in obtaining their Connecticut licenses... an out - of - state broker may not simply come into Connecticut and do business as a real estate broker under the putative authority of his valid out - of - state broker's license.»
Whether you are buying, selling, renting, leasing, swapping, joint - venturing, subdividing, consolidating, donating or developing a property, hire someone like us, duly - licensed Real Estate Brokers, Appraisers and Consultants who want to earn your business.