Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 2250 - Missouri Real Estate Commission
Chapter 8 - Business Conduct and Practice
Section 20 CSR 2250-8.140 - Standard Forms
Current through Register Vol. 49, No. 6, March 15, 2024
PURPOSE: This rule instructs a broker as to his/her use and preparation of standard forms approved by counsel. S/he may not complete these forms for a separate charge for persons in which s/he is not acting as a broker, unless s/he is one of the parties to the contract or instrument.
(1) When acting as a broker in a transaction, a broker may use current standardized forms including, but not limited to, contracts, agency disclosures, property management agreements, listing agreements, warranty deeds, quit claim deeds, trust deeds, notes, security instruments and leases, prepared or approved by the broker's counsel or by the counsel for a trade association of which the broker is a member or associate member, or by a Missouri state or local bar association and may complete them by filling in blank spaces to show the parties, property description and terms necessary to close the transaction the broker has procured.
(2) A real estate broker shall not make a separate charge for completing any standardized forms and shall not prepare those forms for persons in transactions in which s/he is not acting as a broker, unless the broker is one of the parties to the contract or instrument or owns or is employed by an escrow company or closing firm which is handling the closing.
*Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993.
