§ 62-13-503. Obligation Subject to Original Contract — Limitation of Actions — Recording of Notice
The obligation of a subsequent owner shall be subject to the terms, conditions and defenses available to the contracting parties. A subsequent owner shall be liable for the fees or commissions only to the extent that the subsequent owner receives rents pursuant to leases with respect to which the broker is entitled to receive a […]
§ 62-13-504. Attorney Fees and Court Costs
The prevailing party in any litigation seeking to enforce the cause of action granted in § 62-13-502 or in seeking to recover damages or other relief for the wrongful refusal or failure to release the notice as required by § 62-13-503(f) shall be entitled to recover attorney fees and court costs incurred by reason of […]
§ 62-13-505. Immunity of Title Examiners, Title Insurers, Abstracters and Closing Agents
No title examiner, title insurer, abstracter or closing agent shall have any responsibility or liability related to the contents of any document that is the subject of a notice recorded pursuant to this part so long as the title examiner, title insurer, abstractor or closing agent fulfills its obligations, if any, under existing law and […]
§ 62-13-601. Part Definitions
As used in this part, unless the context otherwise requires: “Agency contract” means a valid written contract authorizing a real estate licensee to act as a party’s exclusive agent for the purchase, sale or lease of real estate; “Agency relationship” means the relationship resulting from an agency contract; and “Referral fee” means a commission or […]
§ 62-13-602. Reasonable Cause to Solicit Referral Fee
Reasonable cause does not exist unless the party seeking the referral fee actually introduced the business to the real estate licensee from whom the referral fee is sought and at least one (1) of the following other conditions exists as between the party seeking the referral fee and the real estate licensee from whom the […]
§ 62-13-603. Unlawful Referral Solicitation — Unlawful Retribution for Existence of Agency Relationship
It is unlawful for any person or entity to: Solicit or request a referral fee from a real estate licensee without reasonable cause; or Threaten to reduce or withhold employee relocation benefits or to take other action adverse to the interests of a client of a real estate licensee because of an agency relationship. Reasonable […]
§ 62-13-604. Unlawful Interference With Agency Relationship
It is unlawful for a real estate licensee, a relocation firm or a firm with a corporate relocation policy or benefits, or anyone on behalf of any such licensee or firm, to counsel a client of another real estate licensee on how to terminate or amend an existing agency contract. Communicating corporate relocation policy or […]
§ 62-13-405. Written Disclosure
If a licensee personally assists a prospective buyer or seller in the purchase or sale of a property and the buyer or seller is not represented by this or any other licensee, the licensee shall verbally disclose to the buyer or seller the licensee’s facilitator, agent, subagent or designated agent status in the transaction before […]
§ 62-13-406. Designated Broker — Managing Broker
A licensee entering into a written agreement to represent any party in the buying, selling, exchanging, renting or leasing of real estate may be appointed as the designated and individual agent of this party by the licensee’s managing broker, to the exclusion of all other licensees employed by or affiliated with the managing broker. A […]
§ 62-13-407. Liability
A client or other party to whom a real estate licensee provides services as an agent, subagent or facilitator shall not be liable for damages for the misrepresentations of the licensee arising out of the licensee’s services unless the client or party knew or had reason to know of the misrepresentation. This section shall not […]