Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
May 01, 2025 |
referred to judiciary |
Assembly Bill A8120
2025-2026 Legislative Session
Sponsored By
LEE
Current Bill Status - In Assembly 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
co-Sponsors
Judy Griffin
Matthew Simpson
2025-A8120 (ACTIVE) - Details
- See Senate Version of this Bill:
- S7499
- Current Committee:
- Assembly Judiciary
- Law Section:
- Real Property Law
- Laws Affected:
- Add §442-m, RP L
2025-A8120 (ACTIVE) - Summary
Relates to the definition and term of real estate listing agreements; provides that no real estate broker shall be a party to a listing agreement if such agreement is for a period longer than two years; provides that a listing agreement shall not be enforceable if the agreement is for a period longer than two years.
2025-A8120 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 8120 2025-2026 Regular Sessions I N A S S E M B L Y May 1, 2025 ___________ Introduced by M. of A. LEE -- read once and referred to the Committee on Judiciary AN ACT to amend the real property law, in relation to the definition and term of real estate listing agreements THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The real property law is amended by adding a new section 442-m to read as follows: § 442-M. LISTING AGREEMENTS. 1. FOR THE PURPOSES OF THIS SECTION, "LISTING AGREEMENT" MEANS A CONTRACT BETWEEN AN OWNER OR OWNERS OF RESI- DENTIAL REAL PROPERTY AND AN AGENT, BY WHICH THE AGENT HAS BEEN AUTHOR- IZED TO SELL OR LEASE THE RESIDENTIAL REAL PROPERTY OR TO FIND OR OBTAIN A BUYER OR LESSEE THEREFOR. 2. NO REAL ESTATE BROKER SHALL BE A PARTY TO A LISTING AGREEMENT IF SUCH AGREEMENT IS FOR A PERIOD LONGER THAN TWO YEARS. 3. A LISTING AGREEMENT SHALL NOT BE ENFORCEABLE IF THE AGREEMENT IS FOR A PERIOD LONGER THAN TWO YEARS. 4. NOTHING SHALL PROHIBIT THE RENEWAL OF A LISTING AGREEMENT UPON OR PRIOR TO THE FIXED TERMINATION DATE SET FORTH IN SUCH AGREEMENT, PROVIDED, HOWEVER, NO REAL ESTATE BROKER SHALL BE A PARTY TO AN EXCLU- SIVE LISTING AGREEMENT WHICH SHALL CONTAIN AN AUTOMATIC CONTINUATION OF THE PERIOD OF SUCH LISTING BEYOND THE FIXED TERMINATION DATE SET FORTH IN SUCH AGREEMENT. § 2. This act shall take effect one year after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD11570-01-5
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