2018 Colorado Revised Statutes
Title 12 - Professions and Occupations
General - Continued
Article 61 - Real Estate
Part 8 - Brokerage Relationships
§ 12-61-809. Duration of relationship

Universal Citation:
CO Rev Stat ยง 12-61-809 (2018)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
  • (1) (a) The relationships set forth in this part 8 shall commence at the time that the broker is engaged by a party and shall continue until performance or completion of the agreement by which the broker was engaged.

    • (b) If the agreement by which the broker was engaged is not performed or completed for any reason, the relationship shall end at the earlier of the following:

      • (I) Any date of expiration agreed upon by the parties;

      • (II) Any termination or relinquishment of the relationship by the parties; or

      • (III) One year after the date of the engagement.

  • (2) (a) Except as otherwise agreed to in writing and pursuant to paragraph (b) of this subsection (2), a broker engaged as a seller's agent or buyer's agent owes no further duty or obligation after termination or expiration of the contract or completion of performance.

    • (b) Notwithstanding paragraph (a) of this subsection (2), a broker shall be responsible after termination or expiration of the contract or completion of performance for the following:

      • (I) Accounting for all moneys and property related to and received during the engagement; and

      • (II) Keeping confidential all information received during the course of the engagement which was made confidential by request or instructions from the engaging party unless:

        • (A) The engaging party grants written consent to disclose such information;

        • (B) Disclosure of such information is required by law; or

        • (C) The information is made public or becomes public by the words or conduct of the engaging party or from a source other than the broker.

  • (3) Except as otherwise agreed to in writing, a transaction-broker owes no further obligation or responsibility to the engaging party after termination or expiration of the contract for performance or completion of performance; except that such broker shall account for all moneys and property related to and received during the engagement.

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