Issue Position: Commercial Real Estate Broker Lien Act

Issue Position

Rep. Maestas has been a big supporter of ensuring our real estate market in Albuquerque continues to grow and work efficiently. He carried legislation in the 2013 Legislative Session to help Commercial Real Estate Brokers ensure they get paid for the services they provide. That bill was HB 365, and it died before the end of the 2013 session. In the 2014 session, Rep. Maestas carried on the effort and sponsored House Bill 185 which created the Commercial Real Estate Broker Lien Act. This law permits a broker to place a lien upon commercial real estate or any interest in commercial real estate in the amount that the broker is due for licensed services connected with the leasing of commercial real estate. This could include brokerage fees and consulting fees if the broker is entitled to a stated fee or commission. Rep. Maestas worked hard to pass this law because he believes in the importance of making sure commercial brokers get paid for their work in helping to sell or lease commercial real estate. Albuquerque's Westside has the potential to attract much more commercial activity, and brokers are at the forefront of making sure that vacant property is occupied by responsible businesses.

House Bill 365 in the 2013 Legislative Session
http://www.nmlegis.gov/Sessions/13%20Regular/bills/house/HB0365.pdf

House Bill 185 in the 2014 Legislative Session
http://www.nmlegis.gov/Sessions/14%20Regular/final/HB0185.pdf

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