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Utah Code Title 61. Securities Division--Real Estate Division § 61-2g-406. Contingent fees

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) A person licensed or certified under this chapter who enters into an agreement to perform an appraisal may not accept a contingent fee.

(2) A person may accept payment of a fixed fee or a contingent fee when the person:

(a) if the person is not licensed or certified under this chapter, presents or provides a price estimate or property tax information in accordance with Section 59-2-1017; or

(b) if the person is licensed or certified under this chapter, enters into an agreement to provide consultation services.

(3) A person that accepts payment of a fee under Subsection (2) shall:

(a) clearly state in each oral statement the fact that the person is accepting payment of a fee under a contingent fee arrangement and whether the person is licensed or certified under this chapter; and

(b) clearly state in any written consultation report or summary, letter of transmittal, certification statement, price estimate, or property tax information that the document is prepared under a contingent fee arrangement and whether the person is licensed or certified under this chapter.

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Cite this article: FindLaw.com - Utah Code Title 61. Securities Division--Real Estate Division § 61-2g-406. Contingent fees - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-61-securities-division-real-estate-division/ut-code-sect-61-2g-406/

Read this complete Utah Code Title 61. Securities Division--Real Estate Division § 61-2g-406. Contingent fees on Westlaw. Westlaw subscription required.

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