(b) “Future right to list contract” does not include a will or trust instrument in which the testator or settlor instructs a personal representative or trustee to use the services of a particular real estate licensee or firm upon the death or incapacity of the testator or settlor.
(2) A real estate licensee may not solicit, enter into or give or receive compensation arising from a future right to list contract if:
(a) The duration of the contract, including any renewals thereof, exceeds 24 months;
(b) The contract purports to run with the land or to be binding on future owners of interests in the real property;
(c) The contract allows for assignment of the right to provide service without notice to and consent of the owner of residential real estate; or
(d) The contract purports to create a lien, encumbrance or other real property security interest.
(3) This section does not apply if the future right to list contract is entered into between a real estate licensee and a corporation, limited liability company or partnership and is for the right to list the real property of the corporation, limited liability company or partnership. [2024 c.3 §21]
Note: 696.368 was added to and made a part of 696.010 to 696.495 by legislative action but was not added to any smaller series therein. See Preface to Oregon Revised Statutes for further explanation.