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A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms:
A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
The law of agency is an area of commercial law dealing with a set of contractual, quasi-contractual and non-contractual fiduciary relationships that involve a person, called the agent, who is authorized to act on behalf of another (called the principal) to create legal relations with a third party. [1]
When it comes to selling a home there's a lot to know beyond staging and setting a reasonable list price. As with any industry, there are real estate definitions (homestead, quit-claim) and a set ...
Implied Authority to contract is a legal term in contract law referring to the implied ability of an individual to make a legally binding contract on behalf of an organization by way of uniform or interaction with the public on behalf of that organization. [1]
A typical real estate contract specifies a date by which the closing must occur. The closing is the event in which the money (or other consideration) for the real estate is paid for and title (ownership) of the real estate is conveyed from the seller(s) to the buyer(s). The conveyance is done by the seller(s) signing a deed for buyer(s) or ...
Legal jurisdictions which provide for apparent authority include the United States, the United Kingdom, Australia, Canada and South Africa.The doctrine of apparent authority is based on the concept of estoppel, thus, it prevents the principal from denying the existence of agency to a third party, provided that a representation, as to the agent's authority, has been made by him to the third ...
Authorization is the responsibility of an authority, such as a department manager, within the application domain, but is often delegated to a custodian such as a system administrator. Authorizations are expressed as access policies in some types of "policy definition application", e.g. in the form of an access control list or a capability , or ...