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1998 SESSION

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HB 1242 Broker's liens.

Introduced by: Eric I. Cantor | all patrons    ...    notes | add to my profiles

SUMMARY:

Broker's liens. Provides that a purchaser acquiring fee simple title to commercial real estate and having actual knowledge of terms of a lease agreement which provide for the payment of brokerage fees due and payable to a real estate broker shall be liable for payment thereof, regardless of whether the real estate broker has perfected the lien in accordance with this chapter. The bill excludes from the term "purchaser" a trustee under or a beneficiary of a deed of trust, a mortgagee under a mortgage, a secured party or any other assignee under an assignment as security, or successors, assigns, transferees or purchasers from such persons or entities.


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