Sentences with phrase «licensee owed»

The Buyers argued that this was a fiduciary duty a licensee owed to its client as well as a contractual duty in this instance, based on the duties described in the Agency Disclosure Form.

Real estate licensee owed duty to disclose facts of which she was aware, but did not have a duty to inspect the property.

The Montana Supreme Court concluded that the real estate licensee owed only statutory duties to disclose adverse material facts of which she was aware and had no duty to inspect the property.

When two licensees co-list a matrimonial home owned jointly by spouses, each licensee owes fiduciary duties to both spouses.

«When the designated agent is comprised of more than one licensee, all of those licensees owe fiduciary duties to the client.

Marty, with permission, reprinted this from the Council newsletter: [«-RSB- «When the designated agent is comprised of more than one licensee, all of those licensees owe fiduciary duties to the client.

This statute specifies the duties that licensees owe to consumers in various relationships.

The court rejected this argument, finding that a licensee owes no duty to a property's tenant.

During the course of its representation of the Clients, the Brokerage never presented the Clients with a statutorily - required notice that advises the client of the «duties of limited representation» that a real estate licensee owes its client as a transaction broker, such as the duties of care, skill, and confidentiality.

• The Real Estate Recovery Fund exists to reimburse any person who has obtained a final civil judgment against a Pennsylvania real estate licensee owing to fraud, misrepresentation, or deceit in a real estate transaction and who has been unable to collect the judgment after exhausting all legal and equitable remedies.

THE LICENSEE OWES THREE ADDITIONAL STATUTORY DUTIES TO A CLIENT AS AN AGENT OR DESIGNATED AGENT IN A REAL ESTATE TRANSACTION:

The «TO CLIENT BROKERAGE SOLE AGENCY» column describes the obligations that a brokerage and all of its related licensees owe to their clients in a brokerage agency relationship when acting as a sole agent.

It specifies that an agreement must be in place in order to modify the duties that brokerages and their licensees owe to clients and that, even when such agreements exist, the brokerage still has a responsibility to supervise licensees to ensure they are performing their duties appropriately for clients.

New York licensees owe a fiduciary duty to their clients, and licensees forfeit their commission if they breach their fiduciary duty.

the duties that a brokerage and its related licensees owe to a client, be that client a seller / landlord or a buyer / tenant;

Not exact matches

To the extent a Licensee secures, stores, holds, or maintains custody or control of Virtual Currency on behalf of another Person, such Licensee shall hold Virtual Currency of the same type and amount as that which is owed or obligated to such other Person.

Rail Events, the Durango, Colo. - based licensor of Polar Express holiday trains, said Thursday it had been unable to reach a settlement with Iowa Pacific Holdings over millions of dollars in royalty payments it says it is owed, and that Polar Express trains won't operate this winter in Saratoga Springs and other locations where Iowa Pacific was the licensee.

A landowner owes a duty to licenses to refrain from wanton negligence or willful misconduct and to warn the licensee of a known dangerous defect or condition that is not obvious.

The standard of care owed to a person on someone else's property depends upon whether the person on the property is a trespasser, a licensee, or a business invitee.

Homeowners also owe licensees the duty to exercise ordinary care to keep the premises safe while licensees are present as well as to warn them of any hidden dangers.

The governmental unit's duty in premises liability cases is limited to the duty a private person owes to a licensee on private property.

In order to satisfy the reasonableness standard owed to invitees and licensees, an owner has a continuing duty to inspect the property, identify dangerous conditions, and either repair them or post warnings as appropriate.

Conversely, licensees must also act honesty, e.g. by accurately reporting royalties owed to the licensor, otherwise they could be found in breach of the duty as well as breach of their royalty reporting obligations under the license.

A landowner owes a duty of care to invitees or licensees to be aware of any conditions that might pose an unreasonable risk of harm to the invitee or licensee, to anticipate that the invitee or licensee may not be able to discover or realize the risk of harm, and therefore to exercise reasonable care in preventing the invitee or licensee from suffering the harm.

In these cases, the spouses may wish to modify the fiduciary duties of their designated agent through a written agreement, specifying that each licensee will owe fiduciary duties to one of the spouses but not both.»

Some courts are viewing the duties owed to buyers by licensees representing them as broader than the duties of listing agents.

An associated licensee has no power to act except as a representative of the broker and undertakes the same duties as owed by the broker.

The Supreme Court determined that the associate licensee who listed the property owed a duty to the buyer equivalent to that owed by the broker.

The Licensee did not release the funds, on the grounds that he was owed a commission for producing a ready, willing, and able buyer for the property.

The court ruled that the dual agent duties of the Brokerage extended to its associate licensees and so the Listing Broker owed the equivalent disclosure duty to the Buyer that the Brokerage would.

Ensure licensees inform consumers of the duties and responsibilities owed to both clients and unrepresented parties before working with consumers.

A licensee only owes its client a fiduciary duty when it is providing licensed services to the client.

A Florida appellate court has considered whether real estate licensees in the state owe their clients the common - law fiduciary duties if the licensee fails to provide clients a mandated disclosure form describing the duties of limited representation.

Five real estate licensees (collectively, «Licensees») complained to the Connecticut Commissioner of Labor («Commissioner») that broker Mary Lou Wall («Broker») of Suburban Homes & Condos («Brokerage») had improperly withheld commission payments owed to the Licensees for sales which closed after the Licensees had left the Blicensees (collectively, «Licensees») complained to the Connecticut Commissioner of Labor («Commissioner») that broker Mary Lou Wall («Broker») of Suburban Homes & Condos («Brokerage») had improperly withheld commission payments owed to the Licensees for sales which closed after the Licensees had left the BLicensees») complained to the Connecticut Commissioner of Labor («Commissioner») that broker Mary Lou Wall («Broker») of Suburban Homes & Condos («Brokerage») had improperly withheld commission payments owed to the Licensees for sales which closed after the Licensees had left the BLicensees for sales which closed after the Licensees had left the BLicensees had left the Brokerage.

Very generally, in these relationships, the duties owed to the consumer are less than the complete, traditional fiduciary duties, but in most states which allow for this type of relationship, the licensee still owes fiduciary duties to the consumer.

By looking at how the Brokerage had treated the commissions owed to the Licensees following their departure from the Brokerage, the trial court found that the Brokerage's own conduct supported a conclusion that no fixed policy existed: in one case, the Brokerage assessed a ticket charge; in another, a little less than 50 % of the commission was retained; in another, 75 % of the commission was withheld; and in two others, 100 % of the commission was withheld.

In Parahoo v. Mancini, the Ohio Court of Appeals made it clear that in Ohio, the property disclosure duties owed by a licensee to a buyer can be very different, depending upon whom licensee represents.

A Connecticut appellate court has considered whether a broker owed double damages to salespeople for improperly withholding from them commissions paid to brokerage after the licensees had left the firm.

The licensee will also need your assistance and / or authorization to gather information about such things as the ownership details, the outstanding balance owing on the mortgage, the home's assessed value, and the current zoning of the property.

A commission trust account will be necessary if, of the net amount owed to the licensee, a portion of the funds are payable to a third party such as the Canada Revenue Agency (CRA).

The changes would allow one or more licensees to be designated as agents for a seller or buyer, rather than the current practice of all licensees within a brokerage firm owing fiduciary duty to the principal.

In order to do this without breaching their obligations, the service agreement should include limitations on the duties that the licensee will owe to their client.

That is to say, when any licensee at a common law brokerage enters into agency with a buyer or a seller, every licensee at the brokerage is immediately considered to be a representative of that buyer or seller and owes them undivided loyalty, advice and advocacy.

The principal real estate broker and the real estate licensees representing either seller or buyer shall owe the following duties to the seller and buyer:

To be loyal to the Clients interests by placing those interests before all others in negotiation of a real estate transaction and in other activities, except where such loyalty duty would violate the Licensee's duties owed to all the parties in the tr

As a real estate licensee who has no brokerage relationship with you, BROKER and its associates owe to you the following duties: 1.

The Agency cases from this period address issues that we frequently see in this context, such as whether an agency relationship existed, whether a licensee was an employee or independent contractor, whether a broker could be liable for the negligence of a licensee, and the duty owed by a licensee.

The court concluded that no principal - agent relationship was created between the purchaser and the licensee, and therefore, the licensee did not owe a fiduciary duty to the purchaser.

In order to act as a limited dual agent, a licensee (whether the brokerage in brokerage agency or the designated agent in designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicable.

Section 3 - 3.2 of the Rules requires that there be an agreement between a brokerage and a client if the intention is that designated agents, not the brokerage and all its licensees, are to be responsible for the agency duties owed to the client.