Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
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---|---|
Jan 06, 2010 |
referred to judiciary |
Jan 18, 2009 |
referred to judiciary |
Senate Bill S828
2009-2010 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Judiciary Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-S828 (ACTIVE) - Details
- Current Committee:
- Senate Judiciary
- Law Section:
- General Obligations Law
- Laws Affected:
- Add ยง5-329, Gen Ob L
- Versions Introduced in 2011-2012 Legislative Session:
-
S2287
2009-S828 (ACTIVE) - Summary
Renders void and unenforceable agreements between real estate brokers and sellers of residential real property other than multiple dwellings in cities of one million or more persons where the asking price for the sale of the property is less than one million dollars, and pursuant to which such broker is designated as the exclusive agent for the sale or advertisement of the availability of the property; applies to agreements made after effective date of the bill.
2009-S828 (ACTIVE) - Sponsor Memo
BILL NUMBER: S828 TITLE OF BILL : An act to amend the general obligations law, in relation to rendering unenforceable exclusive brokerage agreements for certain residential sales of non-multiple dwellings in cities of one million or more population SUMMARY OF BILL : Experience indicates that, rather than enhance attention given to "exclusives", brokers tend to give less attention because they know that no sale can take place without their participation for the duration of the "exclusive" agreement. JUSTIFICATION : While no benefit accrues to the seller, substantial detriment can result when the broker is procuring no buyee and a period of time r~mains before the expiration of the agreement. Informal arrangements to allow the seller to "buyout" of the agreement have been known to take place. In such cases, the broker is effectively being paid for nothing. FISCAL IMPLICATIONS : None.
2009-S828 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 828 2009-2010 Regular Sessions I N S E N A T E January 18, 2009 ___________ Introduced by Sen. KRUGER -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the general obligations law, in relation to rendering unenforceable exclusive brokerage agreements for certain residential sales of non-multiple dwellings in cities of one million or more popu- lation THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The general obligations law is amended by adding a new section 5-329 to read as follows: S 5-329. EXCLUSIVE BROKERAGE AGREEMENTS FOR RESIDENTIAL SALES OF NON- MULTIPLE DWELLINGS IN ANY CITY OF ONE MILLION OR MORE PERSONS VOID AS AGAINST PUBLIC POLICY. EVERY COVENANT, PROMISE, AGREEMENT OR UNDERSTAND- ING IN OR IN CONNECTION WITH, OR COLLATERAL TO, ANY CONTRACT ENTERED INTO BETWEEN A REAL ESTATE BROKER, SALESMAN OR AGENT, AND A SELLER OF REAL PROPERTY NOT UTILIZED FOR COMMERCIAL PURPOSES ON WHICH A RESIDEN- TIAL DWELLING OTHER THAN A MULTIPLE DWELLING IS LOCATED, ANY PORTION OF WHICH PROPERTY IS SITUATE WITHIN A CITY OF ONE MILLION OR MORE PERSONS, WHERE THE ASKING PRICE FOR THE SALE OF THE PROPERTY IS LESS THAN ONE MILLION DOLLARS PURSUANT TO WHICH, IN SUBSTANCE, THE BROKER, SALESMAN OR AGENT, OR THE FIRM WITH WHICH HE OR SHE IS ASSOCIATED, IS DESIGNATED AS THE EXCLUSIVE BROKER, SALESMAN, AGENT OR FIRM FOR THE SALE OF SUCH PROP- ERTY OR TO ARRANGE SUCH SALE OR TO FIND A READY, WILLING AND ABLE BUYER OF THE PROPERTY OR FOR THE PURPOSE OF NOTICING OR ADVERTISING THE AVAIL- ABILITY OF THE PROPERTY OR FOR THE PURPOSE OF RENDERING ANY SERVICES TO, FOR OR ON BEHALF OF THE SELLER OR A POTENTIAL BUYER OR BOTH, AND WHETHER OR NOT THE EXCLUSIVITY IS RESTRICTED TO ONE OR MORE ADVERTISING MEDIA OR TO ONE OR MORE AREAS OR NEIGHBORHOODS WITHIN SUCH CITY, SHALL BE DEEMED TO BE VOID AS AGAINST PUBLIC POLICY AND WHOLLY UNENFORCEABLE. NO REAL ESTATE BROKER, SALESMAN OR AGENT SHALL BE ENTITLED TO EARN OR COLLECT EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06307-01-9
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