Utah Supervision and Sales Agreement

State:
Multi-State
Control #:
US-EG-9400
Format:
Word; 
Rich Text
Instant download

Description

Broker/Dealer Supervision and Sales Agreement Form between ASFG Securities Corporation, PFL Life Insurance Company, ________ (Broker), a _________ corporation regarding the solicitation of applications for contracts and stop orders and amendments to the
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FAQ

When a licensee lists a property, the obligations and duties the agent assumes are based on the agency agreement established with the property owner.

The individual property manager is a real estate broker who manages properties for one or more property owners.

The legal consequences of operating a property management company without a license in Utah can be severe. The Utah Division of Real Estate can impose fines and penalties on individuals or companies conducting unlicensed property management activities. Fines can range from $1,000 to $25,000 per violation.

(i) A person who holds or obtains a dual broker license may function as the principal broker of a property management company that is a separate entity from the person's real estate brokerage. (ii) A dual broker may not conduct real estate sales activities from the separate property management company.

When a licensee is found guilty in court of a violation of Utah real estate licensing law, and it is the first offense, the penalty is: A Class A Misdemeanor and possibly 6 months in jail. If an action was brought against a licensee, who would represent the Real Estate Division?

View the list of persons and entities that have been served with a Desist and Refrain Order and/or Accusation by the Department of Real Estate for unlicensed or unlawful acts in connection with short sale transactions.

George, a licensed salesperson in the state of Utah, is selling some property which he owns to Sally. What is the responsibility of George to Sally as far as holding a license is concerned? He must voluntarily reveal that he has a real estate license, but no more.

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Utah Supervision and Sales Agreement