(a)Not later than July 31, 2024, each real estate listing provider who entered into a real estate listing agreement on or before June 30, 2024, shall rerecord such agreement, and record notice of such agreement, with the town clerk of the town in which the residential real property that is the subject of such agreement is located if such agreement (1) purports to run with the land or bind future holders of interests in such residential real property, (2) allows for any assignment of any right to provide the real estate listing under such agreement without first providing notice to, and obtaining consent from, the owner of such residential real property, or (3) purports to create any lien or encumbrance upon, or other security interest in, such residential real property.
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(a) Not later than July 31, 2024, each real estate listing provider who entered into a real estate listing agreement on or before June 30, 2024, shall rerecord such agreement, and record notice of such agreement, with the town clerk of the town in which the residential real property that is the subject of such agreement is located if such agreement (1) purports to run with the land or bind future holders of interests in such residential real property, (2) allows for any assignment of any right to provide the real estate listing under such agreement without first providing notice to, and obtaining consent from, the owner of such residential real property, or (3) purports to create any lien or encumbrance upon, or other security interest in, such residential real property. (b) Each notice recorded pursuant to subsection (a) of this section shall include (1) the title “Notice of Real Estate Listing Agreement” printed in not less than fourteen-point bold type, (2) a legal description of the residential real property that is the subject of the real estate listing agreement, (3) the amount of the fee specified in the real estate listing agreement or the method by which such fee shall be calculated, (4) the date or circumstances under which the obligation set forth in the real estate listing agreement shall expire, (5) the name, address and telephone number of the real estate listing provider, and (6) if the real estate listing provider is (A) an individual, the notarized signature of the individual, or (B) an entity, the notarized signature of an authorized officer or employee of the entity. (c) If a real estate listing provider fails to rerecord any real estate listing agreement pursuant to subsection (a) of this section, and record a notice of such agreement pursuant to subsections (a) and (b) of this section, on or before July 31, 2024, such agreement shall be void and unenforceable and any interest in the residential real property that is the subject of such agreement may be conveyed free and clear of such agreement.