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Title XXVII DEBTOR-CREDITOR RELATIONS

Chapter 429

previous next Effective - 28 Aug 1993bottom

  429.605.  Broker's lien for compensation for services, requirements. — 1.  Any real estate broker who is not acting as a real estate salesperson for another real estate broker shall have a lien on commercial real estate or an interest in such commercial real estate in the amount of the compensation as agreed upon by the real estate broker and the real estate broker's client or customer, if:

  (1)  Such real estate is listed with the real estate broker under terms of a written agreement for the purpose of selling, leasing or otherwise conveying any interest in the commercial real estate and evidenced by a written agreement signed by the owner or the owner's agent; and

  (2)  The real estate broker and the real estate salespersons retained by the real estate broker have provided licensed services that resulted in the procuring of a person or entity ready, willing and able to purchase, lease or otherwise accept a conveyance of the commercial real estate or any interest in the commercial real estate as provided for in the terms of the written agreement signed by the owner or owner's agent or other terms which were otherwise acceptable to the owner or owner's agent as evidenced by a written agreement signed by the owner or the owner's agent.

  2.  A real estate broker shall, also, have a lien on such commercial real estate or an interest in such commercial real estate if the real estate broker has a written agreement with a prospective buyer to represent the buyer to the purchase or other conveyance to the buyer of commercial real estate when the real estate broker becomes entitled to compensation pursuant to the written agreement.

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(L. 1993 S.B. 18 § 2)

(1998) Legislative intent, gleaned from the use of the phrase "other conveyances", indicates that the statute authorizes a real estate broker's lien on commercial real estate as a result of the broker's entitlement to compensation for procurement of a lease pursuant to a written agreement between the broker and the buyer.  Incentive Realty, Inc. v. Hawatmeh, 983 S.W.2d 156 (E.D.Mo.).


---- end of effective   28 Aug 1993 ----

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