Colorado § 12-10-409 Duration of relationship

Colorado Statutes

§ 12-10-409 — Duration of relationship

Colorado·Title 12 Professions·Art. Real Estate

(1)(a) The relationships set forth in this part 4 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 subsection

(2)(b) of this section, a broker engaged as a seller's agent or buyer's agent owes no further duty or obligation after termination or expiration of the con

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(1) (a) The relationships set forth in this
part 4 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 subsection
(2)(b) of this section, 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 subsection (2)(a) of this section, a broker shall be
responsible after termination or expiration of the contract or completion of
performance for the following:

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

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

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

(B) Disclosure of the 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 the broker shall account for all money and property related to and received
during the engagement.

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