Go to previous versions of this Section
2022 (you are here)
2021
2020
2019
2018
Other previous versions

2022 Kentucky Revised Statutes
Chapter 324 - Real estate brokers and salesmen
324.235 Definitions for KRS 324.235 to 324.238.

Universal Citation: KY Rev Stat § 324.235 (2022)
Previous Next

Download as PDF
324.235 Definitions for KRS 324.235 to 324.238. As used in KRS 324.235 to 324.238, unless the context requires otherwise: (1) (a) "Commercial real estate" means any parcel of real estate located in this state that is: 1. Lawfully used primarily for sales, retail, wholesale, office, research, institutional, warehouse, manufacturing, or industrial purposes; 2. Lawfully used primarily for multifamily residential purposes involving five (5) or more dwelling units; or 3. Zoned for a business or commercial use by a planning unit acting pursuant to KRS Chapter 100. (b) "Commercial real estate" does not include single-family residential units such as condominiums, townhouses, manufactured homes, or homes or lots in a subdivision when sold, or residential units otherwise conveyed on a unit-byunit basis, even if those units are a part of a larger building or parcel of real estate containing more than four (4) residential units; (2) "Cooperation agreement" means a written co-brokerage, referral, affiliation, or other agreement or arrangement between an out-of-state principal broker and a Kentucky cooperating broker; (3) "Kentucky cooperating broker" means a principal broker licensed under this chapter who has entered into a written cooperation agreement with an out-of-state principal broker; (4) "Out-of-state principal broker" means an individual who is licensed as a real estate broker in a jurisdiction other than Kentucky, and who is the designated broker with whom one (1) or more out-of-state licensees are affiliated or associated; and (5) "Out-of-state licensee" means an individual who is licensed as a real estate broker or real estate sales associate in a jurisdiction other than Kentucky, and who is affiliated or associated with an out-of-state principal broker. Effective: July 15, 2008 History: Created 2008 Ky. Acts ch. 156, sec. 1, effective July 15, 2008.
Previous Next
Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.