HB 1936-S - DIGEST

(DIGEST AS ENACTED)

     Declares that a real estate broker has a lien upon the owner's net proceeds from the disposition of commercial real estate and a lien on rental proceeds from the lease of commercial real estate in the amount which the owner has agreed to pay the broker under a commission agreement as a result of an agreement which the owner enters into for the disposition or lease of the commercial real estate.

     Provides that the lien created under this act is a lien upon personal property, not upon real property.

     Declares that all statutory liens, liens, mortgages, deeds of trust, assignments of rents, and other encumbrances, recorded prior to a notice of claim of lien have priority over a lien created under this act.