Current through 11/5/2024 election
Section 38-22.5-103 - Brokers' lien for compensation for services - requirements(1) A real estate broker shall have a lien on commercial real estate, in the amount of the compensation as set forth in the agreement, if:(a) Such real estate is listed with the real estate broker under terms of an agreement or is the subject of an agreement; and(b) The real estate broker has provided licensed services that resulted in the procuring of a person or entity who has leased any interest in the commercial real estate in accordance with the agreement.(2) The general assembly intends that nothing in this section is subject to a prospective waiver by either party without consideration acceptable to the parties to the waiver.(3) Notwithstanding subsection (1) of this section, commercial real estate is not subject to a real estate brokers' lien to enforce the payment of a renewal commission if the property is conveyed to a bona fide purchaser before the recording of a notice of lien pursuant to section 38-22.5-104.L. 2010: Entire article added, (HB 10-1288), ch. 179, p. 643, §1, effective August 11.