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Mississippi Code Title 85. Debtor-Creditor Relationship § 85-7-505

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A broker shall have a lien upon commercial real estate in the amount that the broker is due under a written agreement for broker services signed by the owner or signed by the owner's duly authorized agent, if:

(a) The broker has performed under the provisions of the agreement;

(b) The written agreement for broker services clearly sets forth the broker's duties to the owner; and

(c) The written agreement for broker services sets forth the conditions upon which the compensation shall be earned and the amount of the compensation.

(2) The lien under this section shall be available only to the broker named in the instrument signed by the owner or the owner's duly authorized agent.

(3) A broker's lien is not valid or enforceable against a grantee or purchaser of an interest in the commercial real estate conveyed by the person owing the compensation if the grantee or purchaser is taking the property without existing tenants or leases covered by a written agreement for broker services if the deed or instrument transferring the interest is recorded before the broker's notice of lien is recorded.

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Cite this article: FindLaw.com - Mississippi Code Title 85. Debtor-Creditor Relationship § 85-7-505 - last updated January 01, 2025 | https://codes.findlaw.com/ms/title-85-debtor-creditor-relationship/ms-code-sect-85-7-505/

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