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Current as of January 01, 2024 | Updated by Findlaw Staff
As used in this chapter, the following words shall have the following meanings:
(1) “ Commercial real estate” means any real estate other than: (i) Real estate containing one to four (4) residential units; (ii) Real estate on which: (A) No buildings or structures are located; and (B) Which is zoned for single-family residential use; or (iii) Single-family residential units such as condominiums, townhouses, or homes singly or in a subdivision when sold, leased, or otherwise conveyed on a unit by unit basis, even though these units may be a part of a larger building or parcel of real estate containing more than four (4) residential units.
(2) “ Compensation” means fees, commissions, and any and all other compensation which may be due a real estate broker for performance of licensed services as defined in § 5-20-1 et seq.
(3) “Real estate” and “real estate broker” are as defined in § 5-20.5-1 et seq.
Cite this article: FindLaw.com - Rhode Island General Laws Title 34. Property § 34-49-2. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-34-property/ri-gen-laws-sect-34-49-2/
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