New Jersey § 45:15-16a
Full text of New Jersey New Jersey Statutes § 45:15-16a, with citation guidance and answers to common questions.
§ 45:15-16a.
a. Any rebate paid by a broker to a purchaser of residential real property pursuant
to paragraph (2) of subsection k. of R.S.45:15-17 shall be: (1) Calculated after the purchaser negotiates the rebate commission rate; (2) Memorialized in a written document, electronic document or a buyer agency agreement
provided by the broker to the purchaser at the outset of the broker relationship,
which document or agreement shall provide the terms of any rebate credited or paid
by the broker to the purchaser; and (3) Disclosed to all parties involved in the transaction, including, but not limited
to, any mortgage lender. b. A rebate shall not be: (1) Paid to a person not licensed as a real estate broker for any act that requires
licensure; (2) Contingent upon the use of other services or products being offered by a broker
or an affiliate of a broker; or (3) Based on the use of a lottery, contest or game.
Frequently Asked Questions About New Jersey § 45:15-16a
What does New Jersey Statutes § 45:15-16a cover?
Section 45:15-16a is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 45:15-16a?
A common citation format is "New Jersey Statutes § 45:15-16a" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 45:15-16a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.