General Assembly Proposed Bill No. 6432
January Session, 2017 LCO No. 2772
*02772*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
REP. GODFREY, 110th Dist.
General Assembly
Proposed Bill No. 6432
January Session, 2017
LCO No. 2772
*02772*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
REP. GODFREY, 110th Dist.
AN ACT CONCERNING DISCLOSURES BY REAL ESTATE BROKERS AND REAL ESTATE SALESPERSONS IN COMMERCIAL TRANSACTIONS AND NOTICES OF COMMISSION RIGHTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 392 of the general statutes be amended to (1) require that each real estate broker and real estate salesperson acting as an agent of a seller or lessor in a commercial real estate transaction make a written disclosure of whom he or she represents to each prospective purchaser or lessee prior to entering into a purchase or lease agreement, and (2) extend the timeframe for the real estate broker or real estate salesperson to record a notice of commission rights in the land records.
Statement of Purpose:
To modify certain deadlines concerning disclosures made by real estate brokers and real estate salespersons in commercial real estate transactions and recording of notices of commission rights.