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C-73.2 - Real Estate Brokerage Act
Section 29.1
Disposition versions
29.1. Except in the cases prescribed in the Organization’s regulations, a licence holder must terminate a contract for the purchase or lease of an immovable if the licence holder becomes aware that the client who is party to the contract intends to formulate a proposal with a view to purchasing, leasing or exchanging an immovable that is the subject of another contract entered into by the licence holder for the purposes of its sale, lease or exchange.
The contract for the purchase or lease of an immovable is terminated by operation of law as of the sending or delivery of a written notice, with reasons, by the licence holder to his or her client that must, among other things, specify the immovable concerned. The licence holder must also recommend to his or her client to enter into a new contract for the purchase or lease of an immovable with another licence holder.
The licence holder may not claim any remuneration with regard to the terminated contract.
