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Legislature Passes Bill to Clarify Real Estate Law

HB 267 will help promote charitable giving by realtors

Friday, April 13, 2012, Juneau, Alaska – The 27th Alaska legislature today passed a bill to clarify statutes that regulate real estate sales and help promote charitable giving by realtors.

 House Bill 267 by Representatives Cathy Muñoz, R-Juneau, and Kurt Olson, R-Kenai, would resolve three areas of concern identified by members of the Alaska Association of Realtors by:

 -      Allowing the Alaska Real Estate Commission the flexibility to designate a licensee to administer closing down a real estate brokerage for medical reasons or violation of law if there is not a licensed broker available to perform the task;

-      Making it clear that licensed assistants may only work for the brokerage in which they are licensed; and,

-      Permitting real estate licensees to share a portion of their commission with a charity and waive their commission if they are selling property of a charity or donate a portion of their commission to a charity.

 “It was a pleasure to work with realtors in my community to improve consumer protection in real estate licensing law and I’m pleased HB 267 is now on its way to the Governor,” Munoz said.

 The House and Senate both unanimously passed the bill.

 HB 267 now goes to Governor Sean Parnell for his signature. The bill takes effect July 1, 2012.

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