At the same time, «there has been a fairly
substantial amount of pent - up demand to sell retail properties, particularly on the part of pension funds and other institutions that want to get out of direct
ownership of
real estate,» says Niehaus.
Assuming BZ Property Management Inc. is a legal entity separate from the owner of the property having no
substantial interest in the property, either directly (as part owner) or indirectly (through share
ownership in Canada First Realty), it is acting on behalf of another person in providing
real estate services.
Affiliated Business Arrangment means an arrangement in which (A) a person who is in a position to refer business incident to or a part of a
real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial
ownership interest of more than 1 percent in a provider of settlement services; and (B) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the selection of that provider; and (8) the term «associate» means one who has one or more of the following relationships with a person in a position to refer settlement business: (A) a spouse, parent, or child of such person; (B) a corporation or business entity that controls, is controlled by, or is under common control with such person; (C) an employer, officer, director, partner, franchisor, or franchisee of such person; or (D) anyone who has an agreement, arrangement, or understanding, with such person, the purpose or
substantial effect of which is to enable the person in a position to refer settlement business to benefit financially from the referrals of such business.