Maine Revised Statutes Title 32 Sec. 13281 – Duration of the relationship
Current as of: 2023 | Check for updates
|
Other versions
1. Effective date. The relationships set forth in this subchapter commence on the effective date of the real estate brokerage agency‘s brokerage agreement and continue until performance, completion, termination or expiration of that brokerage agreement.
[PL 2005, c. 378, §21 (AMD); PL 2005, c. 378, §29 (AFF).]
Terms Used In Maine Revised Statutes Title 32 Sec. 13281
- Affiliated licensee: means a licensee who is authorized to engage in brokerage activity by and on behalf of a real estate brokerage agency. See Maine Revised Statutes Title 32 Sec. 13271
- agency: means any person or entity engaged in real estate brokerage services through its designated broker, associates or employees and licensed by the commission as a real estate brokerage agency. See Maine Revised Statutes Title 32 Sec. 13171
- Brokerage agreement: means a contract that establishes the relationships between the parties and the brokerage services to be performed. See Maine Revised Statutes Title 32 Sec. 13271
- Client: means a person who has entered into a written brokerage agreement with a real estate brokerage agency that has agreed to represent that person and be bound by the duties set forth in section 13272 on behalf of that person. See Maine Revised Statutes Title 32 Sec. 13271
- Commission: means the Real Estate Commission. See Maine Revised Statutes Title 32 Sec. 13001
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real estate: means all estates and lesser interests in land and an existing business if real estate is a part of the business. See Maine Revised Statutes Title 32 Sec. 13001
- Real estate brokerage: means a single instance of offering, attempting to conduct or conducting services on behalf of another for compensation, or with the expectation of receiving compensation, calculated to result in the transfer of an interest in real estate. See Maine Revised Statutes Title 32 Sec. 13001
- Real estate brokerage agency: means a person or entity providing real estate brokerage services through that person's designated broker, affiliated licensees, associates or employees and licensed by the commission as a real estate brokerage agency. See Maine Revised Statutes Title 32 Sec. 13271
2. Obligation; termination. A real estate brokerage agency and an affiliated licensee owe no further duty or obligation after termination, expiration, completion or performance of the brokerage agreement, except the duties of:
A. Accounting in a timely manner for all money and property related to, and received during, the relationship; and [PL 1993, c. 679, §1 (NEW).]
B. For seller agents, buyer agents, subagents and disclosed dual agents, treating as confidential information provided by the client during the course of the relationship that could have a negative impact on the client’s real estate activity, unless:
(1) The client to whom the information pertains grants written consent;
(2) Disclosure of the information is required by law;
(3) The information is made public or becomes public by the words or conduct of the client to whom the information pertains or from a source other than the real estate brokerage agency or the affiliated licensee; or
(4) Disclosure is necessary to defend the real estate brokerage agency or an affiliated licensee against an action of wrongful conduct in a judicial proceeding before the commission or before a professional committee. [PL 2005, c. 378, §22 (AMD); PL 2005, c. 378, §29 (AFF).]
[PL 2005, c. 378, §22 (AMD); PL 2005, c. 378, §29 (AFF).]
SECTION HISTORY
PL 1993, c. 679, §1 (NEW). PL 2005, c. 378, §§21,22 (AMD). PL 2005, c. 378, §29 (AFF).