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Senate Bill S828

2009-2010 Legislative Session

Renders void exclusive brokerage agreements for sale of certain residential property in N.Y. city made hereafter

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Archive: Last Bill Status - In Senate Committee Judiciary Committee

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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

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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