This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Nevada Lease Provisions Relating to Brokers
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US-OL29A07
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NRS: CHAPTER 119 - SALE OF SUBDIVIDED LAND: LICENSING AND REGULATION.
Brokers must maintain records of all transactions in a chronological or numerical order for a minimum of five years after the transaction closes or the cessation of any related real estate activities.
A broker shall keep complete real estate transaction and property management records for at least 5 years after the date of the closing or the last activity involving the property, including, without limitation, offers that were not accepted and transactions that were not completed, unless otherwise directed by the ...
"Brokerage agreement" means an oral or written contract between a client and a broker in which the broker agrees to accept valuable consideration from the client or another person for assisting, soliciting or negotiating the sale, purchase, option, rental or lease of real property, or the sale, exchange, option or ...
As the regulatory agency that enforces Nevada's real estate laws, the Nevada Real Estate Division has the right to inspect the real estate records kept by Nevada brokers and licensees.
The length of time your broker must keep records depends on the type of record. For example, brokers must retain blotters (records containing details of all purchases and sales of securities) for at least six years.
Any licensee, permittee or owner-developer who commits an act described in NRS 645.630, 645.633 or 645.635 shall be punished by a fine of not more than $5,000 for each offense.
Requirements: 64 total college credits: 15 must be in business-related subjects, 6 in real estate law, 3 in Nevada broker management, and 3 in Nevada broker appraisal. The balance of credits can be on any topic. A broker must have a minimum of two years of experience as a licensee.
