§42-203. Real estate broker lien - Attachment.
708 words·~3 min read·
/ok/title-42-liens/42-203·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A real estate broker shall have a lien, upon commercial real estate or any interest in that commercial real estate which is the subject of a purchase, lease or other conveyance to a buyer or tenant of an interest in the commercial real estate, in the amount that the broker is due for licensed services which shall include, without limitation, brokerage fees, consulting fees, and management fees.
The lien shall be available only to the broker named in a written instrument signed by an owner, buyer, or tenant or their respective agents as applicable.
B. A lien under this act shall attach to commercial real estate or any interest in the commercial real estate when:
1. The broker is entitled to a stated fee or commission provided in a written instrument signed by the owner, buyer, tenant, or their respective authorized agents, as applicable; and
2. The broker records a notice of lien in the county clerk’s office of the county in which the real property is located, prior to the actual conveyance or transfer of the commercial real estate against which the broker is claiming a lien, except as provided in subsection C, D or E of this section. The lien shall attach as of the date of the recording of the notice of lien and does not and shall not relate back to the date of the written instrument.
C. LEASES. In the case of a lease, including a sublease or assignment of lease, the notice of lien must be recorded not later
than ninety
(90)days after the tenant takes possession of the leased premises. The lien shall attach as of the recording of the notice of lien and shall not relate back to the date of the written instrument.
D. FUTURE COMMISSIONS IN LEASE TRANSACTIONS. 1. If a broker may be due additional commission as a result of future actions, including but not limited to the exercise of an option to expand the leased premises, to renew or extend a lease, pursuant to a written instrument signed by the then owner or tenant, the broker may record its notice or lien at any time after execution of the lease or other written instrument which contains such option but not later than ninety
(90)days after the event or occurrence on which the future commission is claimed occurs. An action to foreclose a lien to collect future commissions must be commenced within two
(2)years of the occurrence or transaction on which the future commission is claimed.
2. In the event that the property is sold or otherwise conveyed prior to the date on which a future commission is due and if the broker has filed a valid notice of lien prior to the sale or other conveyance of the property, then the purchaser or transferee shall be deemed to have notice of and shall take title to the property subject to the notice of lien. Provided, however, that if a broker claiming a future commission fails to record its notice of lien for future commission prior to the recording of a deed conveying legal title to the property to the purchaser or transferee, then such broker may not claim a lien on the property.
The provisions of this subsection shall not limit or otherwise affect claims or defenses a broker or owner or any other party may have on any other basis, in law or in equity.
E. BUYER’S BROKER. If a broker has a written agreement with a prospective buyer or tenant as described in subsection A of this section, then the lien shall attach upon the prospective buyer purchasing or otherwise accepting a conveyance or transfer of the commercial real estate and the recording of a notice of lien by the broker in the county clerk’s office of the county in which the real property, or any interest in the real property is located, within ninety
(90)days after the purchase or other conveyance or transfer to the buyer or tenant. The lien shall attach as of the date of the recording of the notice of lien and shall not relate back to the date of the written instrument. Added by Laws 2006, c. 166, § 3, eff. Nov. 1, 2006.