Implementing Regulations of Real Estate Brokerage Law - Article 1

rega_gov_sa · executive_regulation · processed · 1 chunks

date_gregorian=2023-01-20 date_hijri=1444-06-27 document_type=executive_regulation entity=document_number:1 entity=legislation_type:board_resolution entity=regulation:Implementing Regulations of Real Estate Brokerage Law entity=format:application/pdf entity=legislation_category:regulation language=en taxonomy_l1=municipal_construction taxonomy_l2=real_estate taxonomy_l3=real_estate_brokerage validity=valid validity_confidence=1.0

1.The terms and phrases mentioned herein shall have the meanings ascribed thereto in Article 1 of Real Estate Brokerage Law issued by Royal Decree No. M/130, dated 30/11/1443H, unless the context requires otherwise.

2.The following terms and phrases, wherever mentioned herein, shall have the meanings ascribed thereto, unless the context requires otherwise:

License: An authorization issued by REGA to a natural or legal person permits him to practice real estate brokerage activities or to provide real estate services.

Real Estate Advertising License: An authorization issued by REGA to make a visual, read, or audio announcement of disposition of property by any means.

License Applicant: Anyone who applies license application to REGA.

Committee: Committee assigned to review violations of provisions of the Laws and Regulations and impose penalties

Electronic Platform: REGA Electronic Platform

Managing officer: A manager who is legally authorized to manage the facility.