IC 25-34.1 ARTICLE 34.1. REAL ESTATE BROKERS AND
SALESPERSONS
IC 25-34.1-1
Chapter 1. Definitions and General Provisions
IC 25-34.1-1-1 Short title
Sec. 1. This article shall be known as the "Real Estate Broker and
Salesperson Licensing Act." As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-1-2 Definitions
Sec. 2. As used in this article:
(1) "Person" means an individual, a partnership, a corporation,
or a limited liability company.
(2) "Commission" means the Indiana real estate commission.
(3) "Real estate" means any right, title, or interest in real
property.
(4) "Broker" means a person who, for consideration, sells, buys,
trades, exchanges, options, leases, rents, manages, lists, or
appraises real estate or negotiates or offers to perform any of
those acts.
(5) "Salesperson" means an individual, other than a broker,
who, for consideration and in association with and under the
auspices of a broker, sells, buys, trades, exchanges, options,
leases, rents, manages, or lists real estate or negotiates or offers
to perform any of those acts.
(6) "Broker-salesperson" means an individual broker who is
acting in association with and under the auspices of another
broker.
(7) "Principal broker" means a broker who is not acting as a
broker-salesperson.
(8) "License" means a broker or salesperson license issued
under this article and which is not expired, suspended, or
revoked.
(9) "Licensee" means a person who holds a license issued under
this article. The term does not include a person who holds a real
estate appraiser license or certificate issued under the real estate
appraiser licensure and certification program established under
IC 25-34.1-3-8.
(10) "Course approval" means approval of a broker or
salesperson course granted under this article which is not
expired, suspended, or revoked.
(11) "Licensing agency" means the Indiana professional
licensing agency established by IC 25-1-5-3.
(12) "Board" refers to the real estate appraiser licensure and
certification board established under IC 25-34.1-8-1.
(13) "Commercial real estate" means a parcel of real estate
other than real estate containing one (1) to four (4) residential
units. This term does not include single family residential units
such as:
(A) condominiums;
(B) townhouses;
(C) manufactured homes; or
(D) homes in a subdivision;
when sold, leased, or otherwise conveyed on a unit-by-unit
basis, even if those units are part of a larger building or parcel
of real estate containing more than four (4) residential units.
(14) "Out-of-state commercial broker" includes a person, a
partnership, an association, a limited liability company, a
limited liability partnership, or a corporation that is licensed to
do business as a broker in a jurisdiction other than Indiana.
(15) "Out-of-state commercial salesperson" includes a person
affiliated with an out-of-state commercial broker who is not
licensed as a salesperson under this article. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.113, SEC.79; P.L.132-1984, SEC.42; P.L.186-1990, SEC.11;
P.L.183-1991, SEC.5; P.L.128-1994, SEC.1; P.L.64-2004, SEC.16;
P.L.2-2005, SEC.71; P.L.1-2006, SEC.479.
IC 25-34.1-1-3 Nonconflicting rules to remain in effect
Sec. 3. All rules adopted under the former IC 25-34 and in effect
on December 31, 1979, which are not in conflict with this article
shall remain in effect under IC 25-34.1 until they are amended or
repealed. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.3-1990,
SEC.91.
IC 25-34.1 ARTICLE 34.1. REAL ESTATE BROKERS AND
SALESPERSONS
IC 25-34.1-1
Chapter 1. Definitions and General Provisions
IC 25-34.1-1-1 Short title
Sec. 1. This article shall be known as the "Real Estate Broker and
Salesperson Licensing Act." As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-1-2 Definitions
Sec. 2. As used in this article:
(1) "Person" means an individual, a partnership, a corporation,
or a limited liability company.
(2) "Commission" means the Indiana real estate commission.
(3) "Real estate" means any right, title, or interest in real
property.
(4) "Broker" means a person who, for consideration, sells, buys,
trades, exchanges, options, leases, rents, manages, lists, or
appraises real estate or negotiates or offers to perform any of
those acts.
(5) "Salesperson" means an individual, other than a broker,
who, for consideration and in association with and under the
auspices of a broker, sells, buys, trades, exchanges, options,
leases, rents, manages, or lists real estate or negotiates or offers
to perform any of those acts.
(6) "Broker-salesperson" means an individual broker who is
acting in association with and under the auspices of another
broker.
(7) "Principal broker" means a broker who is not acting as a
broker-salesperson.
(8) "License" means a broker or salesperson license issued
under this article and which is not expired, suspended, or
revoked.
(9) "Licensee" means a person who holds a license issued under
this article. The term does not include a person who holds a real
estate appraiser license or certificate issued under the real estate
appraiser licensure and certification program established under
IC 25-34.1-3-8.
(10) "Course approval" means approval of a broker or
salesperson course granted under this article which is not
expired, suspended, or revoked.
(11) "Licensing agency" means the Indiana professional
licensing agency established by IC 25-1-5-3.
(12) "Board" refers to the real estate appraiser licensure and
certification board established under IC 25-34.1-8-1.
(13) "Commercial real estate" means a parcel of real estate
other than real estate containing one (1) to four (4) residential
units. This term does not include single family residential units
such as:
(A) condominiums;
(B) townhouses;
(C) manufactured homes; or
(D) homes in a subdivision;
when sold, leased, or otherwise conveyed on a unit-by-unit
basis, even if those units are part of a larger building or parcel
of real estate containing more than four (4) residential units.
(14) "Out-of-state commercial broker" includes a person, a
partnership, an association, a limited liability company, a
limited liability partnership, or a corporation that is licensed to
do business as a broker in a jurisdiction other than Indiana.
(15) "Out-of-state commercial salesperson" includes a person
affiliated with an out-of-state commercial broker who is not
licensed as a salesperson under this article. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.113, SEC.79; P.L.132-1984, SEC.42; P.L.186-1990, SEC.11;
P.L.183-1991, SEC.5; P.L.128-1994, SEC.1; P.L.64-2004, SEC.16;
P.L.2-2005, SEC.71; P.L.1-2006, SEC.479.
IC 25-34.1-1-3 Nonconflicting rules to remain in effect
Sec. 3. All rules adopted under the former IC 25-34 and in effect
on December 31, 1979, which are not in conflict with this article
shall remain in effect under IC 25-34.1 until they are amended or
repealed. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.3-1990,
SEC.91.
IC 25-34.1 ARTICLE 34.1. REAL ESTATE BROKERS AND
SALESPERSONS
IC 25-34.1-1
Chapter 1. Definitions and General Provisions
IC 25-34.1-1-1 Short title
Sec. 1. This article shall be known as the "Real Estate Broker and
Salesperson Licensing Act." As added by Acts 1979, P.L.248, SEC.1.
IC 25-34.1-1-2 Definitions
Sec. 2. As used in this article:
(1) "Person" means an individual, a partnership, a corporation,
or a limited liability company.
(2) "Commission" means the Indiana real estate commission.
(3) "Real estate" means any right, title, or interest in real
property.
(4) "Broker" means a person who, for consideration, sells, buys,
trades, exchanges, options, leases, rents, manages, lists, or
appraises real estate or negotiates or offers to perform any of
those acts.
(5) "Salesperson" means an individual, other than a broker,
who, for consideration and in association with and under the
auspices of a broker, sells, buys, trades, exchanges, options,
leases, rents, manages, or lists real estate or negotiates or offers
to perform any of those acts.
(6) "Broker-salesperson" means an individual broker who is
acting in association with and under the auspices of another
broker.
(7) "Principal broker" means a broker who is not acting as a
broker-salesperson.
(8) "License" means a broker or salesperson license issued
under this article and which is not expired, suspended, or
revoked.
(9) "Licensee" means a person who holds a license issued under
this article. The term does not include a person who holds a real
estate appraiser license or certificate issued under the real estate
appraiser licensure and certification program established under
IC 25-34.1-3-8.
(10) "Course approval" means approval of a broker or
salesperson course granted under this article which is not
expired, suspended, or revoked.
(11) "Licensing agency" means the Indiana professional
licensing agency established by IC 25-1-5-3.
(12) "Board" refers to the real estate appraiser licensure and
certification board established under IC 25-34.1-8-1.
(13) "Commercial real estate" means a parcel of real estate
other than real estate containing one (1) to four (4) residential
units. This term does not include single family residential units
such as:
(A) condominiums;
(B) townhouses;
(C) manufactured homes; or
(D) homes in a subdivision;
when sold, leased, or otherwise conveyed on a unit-by-unit
basis, even if those units are part of a larger building or parcel
of real estate containing more than four (4) residential units.
(14) "Out-of-state commercial broker" includes a person, a
partnership, an association, a limited liability company, a
limited liability partnership, or a corporation that is licensed to
do business as a broker in a jurisdiction other than Indiana.
(15) "Out-of-state commercial salesperson" includes a person
affiliated with an out-of-state commercial broker who is not
licensed as a salesperson under this article. As added by Acts 1979, P.L.248, SEC.1. Amended by Acts 1982,
P.L.113, SEC.79; P.L.132-1984, SEC.42; P.L.186-1990, SEC.11;
P.L.183-1991, SEC.5; P.L.128-1994, SEC.1; P.L.64-2004, SEC.16;
P.L.2-2005, SEC.71; P.L.1-2006, SEC.479.
IC 25-34.1-1-3 Nonconflicting rules to remain in effect
Sec. 3. All rules adopted under the former IC 25-34 and in effect
on December 31, 1979, which are not in conflict with this article
shall remain in effect under IC 25-34.1 until they are amended or
repealed. As added by Acts 1979, P.L.248, SEC.1. Amended by P.L.3-1990,
SEC.91.
