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§34-49-2  Definitions. –

Published: 2015

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Commercial Real Estate Broker Lien Act

SECTION 34-49-2

   § 34-49-2  Definitions. –

As used in this chapter, the following words shall have the following meanings:

   (1) "Commercial real estate" means any real estate other

than: (i) Real estate containing one to four (4) residential units; (ii) Real

estate on which: (A) No buildings or structures are located; and (B) Which is

zoned for single-family residential use; or (iii) Single-family residential

units such as condominiums, townhouses, or homes singly or in a subdivision

when sold, leased, or otherwise conveyed on a unit by unit basis, even though

these units may be a part of a larger building or parcel of real estate

containing more than four (4) residential units.

   (2) "Compensation" means fees, commissions, and any and all

other compensation which may be due a real estate broker for performance of

licensed services as defined in § 5-20-1 et seq.

   (3) "Real estate" and "real estate broker" are as defined in

§ 5-20.5-1 et seq.

History of Section.

(P.L. 2013, ch. 69, § 1; P.L. 2013, ch. 76, § 1.)