21 GCA REAL PROPERTY CH. 100 GENERAL PROVISIONS DIVISION 3 REAL ESTATE LAW Chapter 100. General Provisions

Chapter 102. Administration

Chapter 104. Real Estate Regulations

CHAPTER 100 GENERAL PROVISIONS § 100101

§ 100102

§ 100103

§ 100104

§ 100105

§ 100106

§ 100107

§ 100108

§ 100109

§ 100110

§ 100111

§ 100112

§ 100113

§ 100114

§ 100115

§ 100116

§ 100117

Short Title

Applicability of Definitions

Commission

Member

Commissioner. Department

Person

Provisions of this Division relating to Real Estate

Provisions relating to Hearings

Licensee

Broker

Salesman

Real Estate Licensee

Real Estate Broker

Real Estate Salesman

Advance Fee

Listing

§ 100101. Short Title

This Division may be cited as the Real Estate Law

SOURCE: GC '58000. Entire Division was enacted by P.L. 11-65 (6/30/71) and has been amended since that time. The original effective date was 90 days after its approval (9/28/71); and all prior licensed real estate salespersons, agents and brokers were "permitted to renew their licenses and operate under such licenses for a period not to exceed four years and until they shall qualify under the provisions of this Division." If any failed to qualify after the four-year period, the Commissioner was to have revoked their licenses. P.L. 11-65. The Compiler has changed the term Act to Law or Division, as appropriate to conform the law to its position within the Guam Code Annotated. References to Island and District Courts have been changed to Superior Court in conformance to P.L. 12-84 (Court Reorganization Act of 1974). COL120106 1 21 GCA REAL PROPERTY CH. 100 GENERAL PROVISIONS Title has been changed to Division to conform to this law's placement in Title 21 of the Guam Code Annotated

§ 100102. Applicability of Definitions

The definitions in this Chapter apply to the provisions of this Division only and do not affect any other provision of this Code

SOURCE: GC '58001

§ 100103. Commission. Commission refers to the Real Estate Commission

SOURCE: GC '58002

§ 100104. Member

Member refers to a member of the Real Estate Commission. SOURCE: GC '68003

§ 100105. Commissioner

Commissioner refers to the Real Estate Commissioner

SOURCE: GC '68004

CROSS-REFERENCES: § 10201 of this Division makes the Director of Revenue & Taxation the Real Estate Commissioner

§ 100106. Department

Department refers to the Department of Revenue & Taxation

SOURCE: GC '58005

§ 100107. Person. Person includes copartnership, corporation, company and firm

SOURCE: GC '58006

§ 100108. Provisions of this Division relating to Real Estate. Provisions of this Title relating to real estate refers to the provisions of Chapters 100 [this Chapter - General Provisions], 102 [Administration], and 104 [Real Estate Licenses] of this Division

SOURCE: 58007

COL120106 2 21 GCA REAL PROPERTY CH. 100 GENERAL PROVISIONS NOTE: Government Code '58007 refer to "Chapters 1, 2, 4 and 6 of this Title [now Division]". Chapters 4 and 6 have never existed within Title LXIII (LXI) of the Government Code and the Compiler has no idea as to what these Chapter numbers refer

§ 100109. Provisions relating to Hearings. Provisions of this Division relating to hearings refers to the provisions of Article 3 of Chapter 102 of this Title

SOURCE: GC '58008

§ 100110. Licensee. Licensee, when used without modification, refers to a person, whether broker or salesman, licensed under any of the provisions of this Division

SOURCE: GC '58009

§ 100111. Broker. Broker, when used without modification, refers to a person licensed as a broker under any of the provisions of this Division

SOURCE: GC '58010

§ 100112. Salesman. Salesman, when used without modification, refers to a person licensed as a salesman under any of the provisions of this Division

SOURCE: GC '58011

§ 100113. Real Estate Licensee. Real Estate Licensee refers to a person, whether broker or salesman, licensed under Chapter 104 (Real Estate Regulations) of this Division

SOURCE: GC '58012

§ 100114. Real Estate Broker. Real Estate Broker refers to a person licensed as a broker under Chapter 104 (Real Estate Regulations) of this Division

SOURCE: GC '58013

§ 100115. Real Estate Salesman

COL120106 3 21 GCA REAL PROPERTY CH. 100 GENERAL PROVISIONS Real Estate Salesman refers to a person licensed as a salesman under Chapter 104 (Real Estate Regulations) of this Division

SOURCE: GC '58014. § 100116. Advance Fee

The term Advance fee as used in this Division is a fee claimed, demanded, charged, received, collected, or contracted for a listing, advertisement, or offer to sell or lease property, other than in a newspaper of general circulation, issued primarily for the purpose of promoting the sale or lease of business opportunities or real estate or for referral to business opportunity or real estate brokers or salesmen, or both, or soliciting borrowers or lenders for, or to negotiate loans on, business opportunities or real estate

SOURCE: GC '58015

§ 100117. Listing. The term listing as used in this Division includes, but is not limited to: (a) A name, or a list of the names, of the owners, landlords, exchangers, or lessors, or the location or locations, or property, or of an interest in property, offered for rent, sale, lease or exchange

(b) A name, or a list of the names, or the location or locations at which prospective or potential purchasers, buyers, lessees, tenants or changers of property may be found or contacted

(c) An agreement by which a person who is engaged in the business of promoting the sale or lease of business opportunities or real estate agrees to render to an owner or lessee of such property any services, to promote the sale or lease of said property

(d) An agreement by which a person who is engaged in the business of finding, locating or promoting the sale or lease of business opportunities or real estate, agrees to circularize, notify or refer business opportunities or real estate brokers or salesmen, or both, to said property which is offered for sale or lease

SOURCE: GC '58016

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