Real Estate Act

Part 2 - Regulation of Business of an Industry Member

Section 22 - Recovery of Commission
22

No action shall be brought to charge a person by commission or otherwise for services rendered in connection with a transaction in the business of an industry member unless

  (a) the service agreement on which recovery is sought in the action or some note or memorandum of it is in writing signed by the party to be charged or by that person’s agent lawfully authorized in writing,
  (b) in the case of a trade in real estate, the person sought to be charged
    (i) has as a result of the services of a real estate broker employed by that person for the purpose effected a sale or lease of land or an interest in it, and
    (ii) has either executed a transfer or lease signed by all other necessary parties and delivered it to the buyer or lessee, or has executed an agreement of sale of land, or an interest in it, signed by all necessary parties, entitling the buyer to possession of the land or any interest in it, as specified in the agreement, and has delivered the agreement to the buyer,
  (c) in the case of a mortgage transaction, the person sought to be charged has as a result of the services of a mortgage broker employed by that person for the purpose obtained a mortgage loan or loaned funds secured by a mortgage, or
  (d) in the case of a transaction involving the activities of a real estate appraiser described in section 1(1)(u.1), the person sought to be charged has as a result of the services of a real estate appraiser employed by that person for the purpose received an estimate of the value of an identified interest in real estate.
 

RSA 2000 cR‑5 s22;2003 c31 s10;2007 c39 s9

 

Continue with Part 2 Section 23 - Recovery of Shared Commission or Remuneration

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