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.
Tennessee Lease Provisions Relating to Brokers
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US-OL29A07
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FAQ
Agency law in Tennessee states that an agency relationship does not exist without a bilateral, written agency agreement between the licensee and the buyer or seller. An agency disclosure form, or confirmation of agency status, is NOT an agreement!
When might an owner who lists with a broker be liable for the broker's misrepresentations? - When the owner knew the broker was misrepresenting.
Under present law, it is unlawful for a licensed broker to employ or compensate any person who is not a licensed broker or a licensed affiliate broker for performing any of the acts regulated by the Tennessee Real Estate Broker License Act.
Which of the following is a true statement about an affiliate broker who violates the Tennessee Real Estate License Law? - The agent could be charged with a Class B felony.
In addition to experience, broker candidates must have successfully completed one hundred twenty (120) classroom hours of approved real estate education, thirty (30) hours of which must be an "Office/Broker Management" course taken at a school approved by the Tennessee Real Estate Commission.
Tenn. Code Ann. § 62-13-102(4)(A). The Act defines an ?affiliate real estate broker? as ?any person engaged under contract by or on behalf of a licensed broker to participate in any activity? described in the above-quoted definition of ?real estate broker.? Tenn.
12. Section 1260-02-. 12 - ADVERTISING (1) All advertising, regardless of its nature and the medium in which it appears, which promotes either a licensee or the sale or lease of real property, shall conform to the requirements of this rule.
If a Tennessee affiliate broker wants to offer a prize to clients, what must the principal broker do? Approve the prize.
