21 NCAC 58A .0106. DELIVERY OF INSTRUMENTS

(a)  Except as provided in Paragraph (b) of this Rule, every broker shall immediately, but in no event later than five days from the date of execution, deliver to the parties thereto copies of any required written agency agreement, contract, offer, lease, or option affecting real property.

(b)  A broker may be relieved of his or her duty under Paragraph (a) of this Rule to deliver copies of leases or rental agreements to the property owner, if the broker:

(1)           obtains the express written authority of the property owner to enter into and retain copies of leases or rental agreements on behalf of the property owner;

(2)           executes the lease or rental agreement on a pre-printed form, the material terms of which may not be changed by the broker without prior approval by the property owner except as may be required by law;

(3)           promptly provides a copy of the lease or rental agreement to the property owner upon reasonable request; and

(4)           delivers to the property owner within 45 days following the date of execution of the lease or rental agreement, an accounting which identifies the leased property and which sets forth the names of the tenants, the rental rates and rents collected.

 

History Note:        Authority G.S. 93A-3(c);

Eff. February 1, 1976;

Readopted Eff. September 30, 1977;

Amended Eff. April 1, 2006; July 1, 2005; July 1, 2001; October 1, 2000; May 1, 1990; July 1, 1989; February 1, 1989.