Question
Two brokers each own 50% of a real estate company. Due to disagreements about the business, the brokers decided to split the assets of the
Two brokers each own 50% of a real estate company. Due to disagreements about the business, the brokers decided to split the assets of the company. One broker forms a new company and is assigned 50% of the listings of the original company. Is there a violation of the Missouri license law or rules and regulations in such arrangement?
A.) Yes, because written consent to the assignment by all parties to the listing agreement was not obtained.
B.) No, because listing contracts are legal documents that can be assigned as any other contract.
C.) Yes, because permission was not obtained from the Missouri Real Estate Commission to assign the listings.
D.) No because the new company is a successor in interest to the previous listings.
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