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Statutes Text

Article - Business Occupations and Professions




§17–607.1.

    (a)    In this section, “commercial real estate” has the meaning stated in § 17–524.1 of this title.

    (b)    Except as otherwise provided in subsection (c) of this section, in a real estate transaction involving commercial real estate, a real estate broker, a nonresident real estate broker, an associate real estate broker, a real estate salesperson, a nonresident real estate salesperson, or a lawyer acting as a real estate broker may not require a buyer, as a condition of settlement, to employ a particular:

        (1)    title insurance company;

        (2)    settlement company;

        (3)    escrow company; or

        (4)    title lawyer.

    (c)    A seller may not be prohibited from offering owner financing as a condition of settlement.



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