Ask a Lawyer and Get Answers to Your Legal Questions
Hello! My name is ***** ***** I am an attorney with Just Answer. I'll be here to help today! Do you mind if I take a moment to review your question? By the way, the system will automatically ask for a phone call. By no means are you required to accept it.
The answer to your question is probably not. The reason is due to copyright law. Because the brokerage house developed that color booklet that included the research documents of comps and their opinion of the value, any redistribution of this document may violate the Copyright Act. However, it is possible that the owner could defend on the grounds of the first sale doctrine, where their purchase of the copyright allows them to do with that one specific document as they see fit. The only issue is that the owner may not submit copies, but rather only the original document. As such, they may just have to submit that one copy to other houses and then request that one copy back in order to stay compliant with the law. It won't be construed that the old broker was a part of the future sale simply by preparing marketing materials.
Follow up questions are free, so did you have any additional questions? If not, were you satisfied with my service today?
Good question. The PDF is going to be the original document that was prepared for the owner. The owner can probably show the new broker the document on their computer or even send them that document as an original.
Practically, it is not going to be a big issue. Legally, if the owner takes some specific steps, they can avoid getting sued.