Title 45, Title 45: PROFESSIONS AND OCCUPATIONS

45:15-16.89 Buyer's agent duties, exceptions. 4. a. In addition to the duties provided for under current law, the duties of a buyer's agent shall include the following, which may not be waived, except as expressly set forth in paragraphs (4) and (5) of this subsection: (1) to be …

45:15-16.90 Brokerage firms, real estate brokerage services, seller's agent, conditions, exceptions. 5. a. A brokerage firm, including brokers, broker-salespersons, and salespersons affiliated with the brokerage firm, that performs real estate brokerage services for a seller is a…

45:15-16.91 Seller's agent duties, exceptions. 6. a. In addition to the duties provided for under current law, the duties of a seller's agent shall include the following, which may not be waived, except as expressly set forth in paragraphs (4) and (5) of this subsection: (1) to b…

45:15-16.92 Brokerage firms acting as a disclosed dual agent, informed consent of both parties, residential, commercial real estate transaction; duties, exceptions. 7. a. A brokerage firm, including its brokers, broker-salespersons, and salespersons, may act as a disclosed dual a…

45:15-16.93 Different broker, broker-salesperson, salesperson, designated agent, fiduciary duties owed, respective principals. 8. a. In a transaction in which a different broker, broker-salesperson, or salesperson is designated as a designated agent by a brokerage firm, including…

45:15-16.94 Brokerage firm engaged as transaction broker shall not act as an agent or represent any party in the transaction; transaction broker duties. 9. a. A brokerage firm, including brokers, broker-salespersons, and salespersons affiliated with the brokerage firm, that has b…

45:15-16.95 Established agency, transaction broker relationships, completion, expiration of terms, termination, conditions. 10. a. The agency or transaction broker relationships established pursuant to this chapter shall continue until the earliest of the following: (1) completio…

45:15-16.96 Real estate transaction, brokerage firm compensation. 11. a. In any real estate transaction, a brokerage firm's compensation may be paid by one or more of the following: the seller; the buyer; a third party; or by sharing the compensation between brokerage firms. Agre…

45:15-16.97 Liability, brokerage firm, principal, agent, transaction broker. 12. a. A principal shall not be liable for an act, error, or omission by an agent or transaction broker of the principal arising out of their relationship: (1) unless the principal participated in or aut…

45:15-16.98 Principal not to be charged, knowledge, notice of facts known by brokerage firm, not actually known by principal. 13. Unless otherwise agreed to in writing, a principal may not be charged with knowledge or notice of any facts known by a brokerage firm representing or …

45:15-16.99 Residential property showing, generally open to public, sign advising prospective buyers, brokerage firm representing seller only; exceptions, sign text. 14. a. At any residential property showing that is generally open to the public, a sign shall be posted at the ent…

45:15-16a Rebate paid by broker to purchaser. 2. a. Any rebate paid by a broker to a purchaser of residential real property pursuant to paragraph (2) of subsection k. of R.S.45:15-17 shall be: (1) Calculated after the purchaser negotiates the rebate commission rate; (2) Memoriali…

45:15-16b Advertisement for rebate. 3. a. Any advertisement for a rebate allowed pursuant to paragraph (2) of subsection k. of R.S.45:15-17 shall include: (1) A disclosure concerning the purchaser's obligation to pay any applicable taxes for receipt of the rebate; and (2) A notic…

45:15-16c Regulations. 4. The New Jersey Real Estate Commission may promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the provisions of this act. L.2009, c.273, s.4.

45:15-17 Investigation of actions of licensees; suspension or revocation of licenses and causes therefor. 45:15-17. The commission may, upon its own motion, and shall, upon the verified complaint in writing of any person, investigate the actions of any real estate broker, broker-…

45:15-17.1. Temporary suspension of license 23. The commission may, on its own motion, enter an order temporarily suspending the license of any licensee upon making a finding that prima facie evidence exists that the licensee has violated subsection d. or subsection o. of R.S.45:…

45:15-17.2. Freezing accounts during suspension of broker's license 24. Upon entering an order temporarily suspending the license of any broker, the commission may also enter an order directing that some or all of the accounts maintained by the broker in any depository institutio…

45:15-17.3. Sanctions for noncomplying sales of mobile homes 2. A real estate licensee who acts as an agent or broker in the sale of a mobile or manufactured home, as defined in subsection a. of R.S.39:10-19, in a manner which does not comply with all requirements of R.S.39:10-1 …

45:15-17.4. Rules, regulations 3. The New Jersey Real Estate Commission, after consultation with the Director of the Division of Motor Vehicles, shall, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), promulgate rules and reg…

45:15-18 Notification to licensee of charges made in licenses suspension, revocation. 45:15-18. With the exception of a temporary suspension imposed by the commission pursuant to section 23 of P.L.1993, c.51 (C.45:15-17.1), the commission shall, before suspending or revoking any …

45:15-19 Cause for revocation of license. 45:15-19. Any unlawful act or violation of any of the provisions of R.S.45:15-1 et seq., by any real estate broker-salesperson or salesperson, shall not be cause for the revocation of any real estate broker's license, unless it shall appe…

45:15-19.1 License revoked upon conviction. 6. When, during the term of any license issued by the commission, the licensee shall be convicted in a court of competent jurisdiction in the State of New Jersey or any state (including federal courts) of forgery, burglary, robbery, any…

45:15-19.2 License suspended when licensee is indicted. 7. In the event that any licensee shall be indicted in the State of New Jersey or any state or territory (including federal courts) for murder, kidnapping, aggravated sexual assault or any sex offense that would qualify the …

45:15-19.3 No supercedure. 21. No provision of R.S.45:15-1 et seq., or any amendment or supplement thereof, shall be deemed to supersede P.L.1968, c.282 (C.2A:168A-1 et seq.). L.2018, c.71, s.21.

45:15-2. "Engaging in business" defined Any single act, transaction or sale shall constitute engaging in business within the meaning of this article.

45:15-20 Nonresident licenses. 45:15-20. A nonresident may become a real estate broker, broker-salesperson, or salesperson by conforming to all of the provisions of R.S.45:15-1 et seq. All nonresident licenses issued by the commission prior to July 1, 1994 may be renewed upon pay…

45:15-21. Filing of irrevocable consent to service 45:15-21. Every applicant for a license whose business address is outside this State shall file an irrevocable consent that suits and actions may be commenced against such applicant by the commission or by any person in any of th…

45:15-24. Commitment for nonpayment of judgment The trial shall be with a jury upon the demand of any party to the action. The court shall, if judgment be rendered for the plaintiff, cause any such defendant, who refuses or neglects to pay forthwith the amount of the judgment ren…

45:15-27. Disposition of penalties Any penalty recovered for any violation of this article shall be applied by the commission to the same purpose as other funds of the commission collected in accordance with the provisions of this article. Amended by L.1953, c. 43, p. 817, s. 78.…

45:15-29. Payment of fines, penalties; funding of commission's expenses 45:15-29. a. All fines and penalties received by the commission pursuant to the provisions of this article shall be paid by it into the State treasury monthly. The payments shall be made on or before the tent…

45:15-29.1. Employees transferred 6. Such employees of the New Jersey Real Estate Commission, as the Commissioner of Insurance may determine are needed for the proper performance of the work of the division of the New Jersey Real Estate Commission in the Department of Insurance, …

45:15-29.2. Rights under Title 11 and under pension laws not affected Nothing in this act shall be construed to deprive any person of any right or protection provided him by Title 11 of the Revised Statutes, Civil Service, or under any pension law or retirement system. L.1948, c.…

45:15-29.3. Orders, rules, regulations continued 9. The orders, rules and regulations heretofore made or promulgated by the New Jersey Real Estate Commission shall continue with full force and effect until amended or repealed by the New Jersey Real Estate Commission constituted h…

45:15-29.4. "New Jersey Real Estate Commission," reference 10. Whenever the term "New Jersey Real Estate Commission" occurs or any reference is made thereto, in any law, contract or document, the same shall be deemed to mean or refer to the New Jersey Real Estate Commission const…

45:15-29.5. Actions, proceedings not affected 11. This act shall not affect actions or proceedings, civil or criminal, brought by or against the New Jersey Real Estate Commission and pending on the effective date of this act, and such actions or proceedings may be prosecuted or d…

45:15-3 Terms defined, license required for bringing action for compensation. 45:15-3. A real estate broker, for the purposes of R.S.45:15-1 et seq., is defined to be a person, firm or corporation who, for a fee, commission or other valuable consideration, or by reason of a promi…

45:15-3.1. Payment of referral fee, commission to person licensed in another jurisdiction 1. A duly licensed real estate broker of this State may pay a referral fee or referral commission to a person not licensed if the person is a licensed real estate broker of another jurisdict…

45:15-3.2 Written agreement. 3. a. No broker-salesperson or salesperson shall commence business activity for a broker and no broker shall authorize a broker-salesperson or salesperson to act on the broker's behalf until a written agreement, as provided in this subsection, has bee…

45:15-34 Real estate guaranty fund established. 1. A real estate guaranty fund is established as a special trust fund to be maintained by the State Treasurer and administered by the New Jersey Real Estate Commission in accordance with the provisions of this act to provide a fund …

45:15-35 Additional amount payable upon initial issuance of license. 2. Upon the initial issuance of a biennial license as a real estate broker, broker-salesperson, or salesperson the licensee shall pay to the commission, in addition to the license fee fixed by R.S.45:15-15, an a…

45:15-36. Management and investment of funds The State Treasurer shall hold, manage and through the Division of Investment, invest and reinvest funds of the real estate guaranty fund and credit all interest and other income earned thereon to the real estate guaranty fund in the s…

45:15-37 Payments from real estate guaranty fund. 4. No claim shall be made for payment from the real estate guaranty fund except upon the reduction to final judgment, which shall include reasonable attorney fees and costs, of a civil action against the broker, broker-salesperson…

45:15-38. Civil action which may result in court order for payment; limitations of action; joinder of commission Any civil action which may result in a court order for payment from the real estate guaranty fund shall be instituted within six years of the accrual of the cause of a…

45:15-39 Secretary of commission constituted as agent. 6. Any person to whom is issued a license to be a real estate broker, broker-salesperson, or salesperson shall, by the securing of said license, make and constitute the secretary of the commission or the person in charge of t…

45:15-4. Application of provisions of article limited The provisions of this article shall not apply to any person, firm, partnership, association or corporation who, as a bona fide owner or lessor, shall perform any of the aforesaid acts with reference to property owned by him, …

45:15-40 Insufficiency of funds; replenishment; excess amounts. 7. a. If at any time the funds available in the real estate guaranty fund are insufficient to satisfy in full court orders for payment therefrom, payment shall be made in the order in which such court orders were iss…