Sentences with phrase «licensees acted»

In the transaction, the mother and daughter licensees acted as dual agents for both parties.

The prospective purchaser and seller entered a purchase agreement, with the licensee acting as a dual agent.

As with any contractual agency relationship, the courts would expect a licensee acting as a designated agent to perform his / her obligations in a manner that is consistent with the contract and the common law of agency.

The ATF considered designated agency to be a positive alternative to in - house dual agency when there is a licensee acting as sole agent for the seller, another licensee engaged by the same brokerage who is acting as sole agent for a buyer, and the buyer becomes interested in the property offered for sale by the seller.

The brokerage's responsibility would be to ensure that each of the licensees acts in accordance with his / her respective agency responsibilities, and that the confidential information of the seller and buyer remains confidential.

In transaction brokerage, the licensee acts as a neutral third - party assistant that provides help without acting on behalf of the customer.

A Colorado appellate court has considered whether a licensee acting as a transaction broker had a duty to investigate whether a listing had the proper permits to continue business operations.

An April, 1999 decision of the Pennsylvania Supreme Court, Bortz v. Noon, addressed the issue of misrepresentation in the context of a licensee acting as an innocent conduit of information from a third party.

Learn more about the duties of a licensee acting in a non-agency capacity at NAR's website (requires member log in).

A licensee acting on behalf of a person who is not otherwise represented may be found to be acting as the party's agent if their actions would lead the party to believe that the licensee was acting as their advocate.

Rule 5 - 11.1 creates obligations for licensees acting for sellers of property.

However, all the other disclosures required under the new Rules (i.e. 5 - 10, 5 - 10.1, 5 - 17) apply to licensees acting for lessors and lessees.

In other words, licensees acting for a buyer or as a limited dual agent will be receiving remuneration from the seller and not from their buyer client.

A licensee acting for a seller must make a disclosure of expected remuneration in respect of each «offer to acquire real estate» that is prepared on behalf of a buyer and presented to the seller by the seller's licensee.

I am a licensee acting for a buyer and the seller is unrepresented.

I am a licensee acting for a buyer and the seller is represented by a licensee.

I am a licensee acting for a seller.

Acting for more than one (1) party in a transaction without the knowledge and consent in writing of all parties for whom the licensee acts;

Licensees Acting for the Assignor or Assignee of a Contract If you are asked to represent an assignor (original buyer) or assignee (ultimate buyer) pursuant to a Contract of Purchase and Sale, you should, as a minimum, ensure that:

When a real estate licensee acts as the escrow agent, the licensee has a fiduciary duty toward each party under the license law.

The TRID requirements from the Consumer Finance Protection Bureau regarding the paperwork required for closing most consumer credit transactions secured by real property, such as a traditional residential mortgage require real estate licensees acting as agents in the transaction to provide their individual salesperson's or broker's license number.

Licensee acting as dual agent could be liable for failing to act in the best interest of the potential purchaser.

An important point for brokerages and their related licensees to keep in mind is that their clients must agree to the limitations placed on a licensee's usual duties before the licensee acts as a limited dual agent.

Licensees acting for either an owner - builder or a potential purchaser can check the HPO's New Homes Registry (lims.hpo.bc.ca / prs / NewHomes /) to determine whether a new home built under an Owner - Builder Authorization can be legally sold as having met the occupancy requirement.

A second example of a licensee acting for two clients with potentially conflicting interests is where the same brokerage represents two buyers who are interested in buying the same property.

This applies whenever the licensee acted as a seller's agent in the first sale, and includes cases where the listing brokerage becomes aware of the possibility of a resale to a different buyer.

A definition of the term «material latent defect», and the responsibility of a licensee acting on behalf of a seller to disclose a material latent defect, is contained in section 5 - 13 of the Rules.

Licensees acting on behalf of buyers often rely on title search documents provided by the seller or, alternatively, request that the seller make such documents available for the buyer's review.

The new contract assignment regulations announced by the provincial government are intended to strengthen the requirement under the Real Estate Services Act that licensees act only in the best interests of their clients.

In brokerage agency, there is no designation of one licensee to act as a designated agent on behalf of one client while a different licensee acts as a designated agent on behalf of a different client.

the listing licensee should be aware that if acting as a limited dual agent for both the buyer who wishes to present a referential offer and the seller, the usual principles of dual agency apply and the licensee should ensure that both parties understand the limitations of the licensee acting as a dual agent.

Before presenting a back - up offer to a seller, the licensee acting for the second buyer should advise the buyer as to the buyer's obligations to complete the transaction should the back - up offer be accepted and the original contract collapse.

The licensee acting for the second buyer should also advise the second buyer to obtain legal advice under the same circumstances.

Section 3 - 3 (1)(a) of the Council Rules requires that the brokerage and its related licensees act in the best interests of the client, and section 3 - 3 (1)(b) of the Council Rules requires that the brokerage and its related licensees act in accordance with the lawful instructions of the client.

(c) advertising of the auction specifies, if there is no licensee acting on the seller's behalf, the name and contact information of the seller, or, if a licensee does act on behalf of the seller, the name and contact information of the licensee; and

Licensees acting on behalf of buyers should review the Schedule of amendments carefully with the buyer to ensure that the buyer understands the implications of the amendments on their purchase.

Licensees acting for buyers of such homes should advise buyers to consider these issues in making their purchase decision.

It is important to stress that the seller's / landlord's or the buyer's / tenant's informed consent is required before a brokerage or any of its related licensees acts on their behalf.

Not exact matches

They're attaching themselves to Australian financial services licensees, so a small tiny business can be very sustainable acting under the umbrella of a large business,» said Mr Kelly.

CFP ® licensees are held to a fiduciary standard, which requires them to act in utmost good faith in a manner that is in the best interest of their clients.

The act seeks to establish a foundation for virtual currency businesses by providing individual states with a common regulatory guide for issues such as licensing requirements; reciprocity; consumer protection; cybersecurity; anti-money laundering; and supervision of licensees.

Deregulation of broadcasting in the U.S. and the Federal Communications Commission's apparent indifference to the practices of broadcast licensees and cable operators in effect seem to legitimize the operation of these media as businesses like any other business, disregarding the public trusteeship that is required by the Communications Act.

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(c) the licensee or the authorisation holder is in default of payment of a fee or other money, charged or imposed in furtherance of this Act, the National Communications Authority Act, 2008 (Act 769) or Regulations

(b) The licensee or the authorisation holder has failed to comply materially with a lawful direction of the Authority, (c) The licensee or the authorisation holder is in default of payment of a fee or other money, charged or imposed in furtherance of this Act, the National Communications Authority Act, 2008 (Act 769) or Regulations

A new congressionally mandated report from the National Academy of Sciences concludes that the overarching lesson learned from the 2011 Fukushima Daiichi nuclear accident is that nuclear plant licensees and their regulators must actively seek out and act on new information about hazards with the potential to affect the safety of nuclear plants.

«As the regulatory body responsible for administering the Real Estate Services Act, we will be working on many fronts to make sure the requirements are well understood, that licensees comply with their new obligations, and that comprehensive monitoring and enforcement programs are put into place.»

Massachusetts — Homespire Mortgage Corporation, Mortgage Lender License NMLS # 183215; New Jersey — Homespire Mortgage Corporation, 9711 Washingtonian Blvd., Suite 500, Gaithersburg, MD 20878, [phone], Licensed Mortgage Banker — NJ Banking and Insurance Department; Pennsylvania — Licensed as a first mortgage banker by the Department of Banking and licensed pursuant to the Pennsylvania Secondary Mortgage Loan Act; Virginia — Homespire Mortgage Corporation, NMLS # 183215; www.nmlsconsumeraccess.org Georgia Residential Mortgage Licensee # 24052 — 9711 Washingtonian Blvd., Suite 500, Gaithersburg, MD 20878 Rhode Island — Rhode Island Licensed Lender # 20183561LL Colorado — Homespire Mortgage Corporation, NMLS # 183215, [phone], Regulated by the Division of Real Estate;

(a) The administrator may bring an action to restrain a creditor or a person acting in his behalf from engaging in any business subject to licensing under subsection (a) of Section 5-19-22 without first obtaining a license therefor as provided in Section 5-19-22 and a licensee or any person acting in his behalf from engaging in violations of this chapter or engaging in a course of fraudulent or unconscionable conduct in inducing debtors to enter credit transactions or in the collection of debts.

After notice and hearing, the administrator may order a licensee under this chapter or a person acting on behalf of the licensee to cease and desist from engaging in violations of this chapter.