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Arkansas Code Title 16. Practice, Procedure, and Courts § 16-123-202. Definitions

Current as of March 28, 2024 | Updated by Findlaw Staff

As used in this subchapter:

(1) “Housing accommodation” includes improved or unimproved real property, or a part thereof, which is used or occupied, or is intended, arranged, or designed to be used or occupied, as the home or residence of one (1) or more persons;

(2) “Real estate broker or salesperson” means a person, whether licensed or not, who:

(A) For or with the expectation of receiving a consideration, lists, sells, purchases, exchanges, rents, or leases real property;

(B) Negotiates or attempts to negotiate any of those activities;

(C) Holds himself or herself out as engaged in those activities;

(D) Negotiates or attempts to negotiate a loan secured or to be secured by a mortgage or other encumbrance upon real property;

(E) Is engaged in the business of listing real property in a publication; or

(F) Is a person employed by or acting on behalf of a real estate broker or salesperson;

(3) “Real estate transaction” means the sale, exchange, rental, or lease of real property, or an interest therein; and

(4) “Real property” includes a building, structure, mobile home, real estate, land, mobile home park, trailer park, tenement, leasehold, or an interest in a real estate cooperative or condominium.

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Cite this article: FindLaw.com - Arkansas Code Title 16. Practice, Procedure, and Courts § 16-123-202. Definitions - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-16-practice-procedure-and-courts/ar-code-sect-16-123-202/

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