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PUBLICATION OF SOLD PRICE When can the price at which a property has been sold be published without violating the confidentiality rules contained in the promise to purchase? The OACIQ’s position is the following: as long as the deed of sale has not been published in the land register, the price indicated in the deed of sale constitutes confidential information and must be treated as such by real estate brokers. They may not make this price public without the written consent of the parties to the transaction, nor use it in any advertising or allow anyone else to do so. To read the full text: www.oaciq.com, article no. 122847 We also encourage you to consult the Advertising Guide for real estate and mortgage agencies and brokers.
DECLARATIONS BY THE SELLER OF THE IMMOVABLE FORM: CLAUSE D2.6 B) HAS BEEN CHANGED.
The form Declarations by the seller of the immovable was recently amended. Thus clause D2.6 b) no longer refers to the Cultural Property Act as part of the examples of restrictions of public law that are exceptions to ordinary law, but rather to the Cultural Heritage Act. This change was made because the Cultural Property Act was replaced by the Culture Heritage Act on October 19, 2012. The new version of the form has been available in electronic format on InstanetFormsTM via Synbad since mid-March 2013. The current print version of this form can continue to be used until the next reprint. To read the full text: www.oaciq.com, article no. 122763
Heritage protection in a transaction SCOPE AND LIMITS OF YOUR DUTY TO INFORM A BROKER ACTING FOR AN AGENCY MUST RECEIVE HIS COMPENSATION FROM THAT AGENCY A broker acts on behalf of an agency and also works as a representative of a firm registered with the Autorité des marchés financiers. Can he receive compensation from this firm for a brokerage activity governed by the Real Estate Brokerage Act? To read the full text: www.oaciq.com, article no. 122992 Brokers or agency executive officers must take certain precautions so that they not engage illegally in the activities of a representative within the meaning of the Act respecting the distribution of financial products and services, as part of their duty to inform the parties of products that concern heritage protection and relate to the transaction. To read the full text: www.oaciq.com, article no. 123129 For more information, we also recommend the following article: Referral of clients to or from a person registered under the Act respecting the distribution of financial products and services, the Securities Act or the Derivatives Act (article no. 123131).
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Profession Broker September 2013
Profession Broker September 2013
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