Section 87QQ. The provisions of sections eighty-seven RR to eighty-seven DDD, inclusive, shall not apply to the following:—any person who, acting for himself as owner, lessor, lessee, tenant or mortgagee, shall perform any of the aforesaid acts of a broker or salesman with reference to real estate owned or leased or rented by or to him, or mortgaged to him; the regular employees of any person aforesaid, with respect to such real estate, if such acts are performed in the regular course of, or as an incident to, the management of such real estate and the investment therein; any person, while acting for himself, who seeks to acquire, lease or rent real estate for his own use or investment or his regular employees acting in behalf of such person in the regular course of their employment; a person acting for himself in negotiating a loan secured or to be secured by a mortgage or other encumbrance upon real estate, or his regular employees acting therein in behalf of such person in the regular course of their employment; a managing agent while acting under a contract with the owner of the real estate or the regular employees of such agent acting in his behalf in the regular course of their employment; a person acting as a licensed auctioneer; a person buying, selling or otherwise dealing in any stock, bond or other security, or certificate of beneficial interest in any trust; a public officer or employee while performing his official duties; a person acting as attorney in fact under a duly executed power of attorney from an owner of real estate authorizing the final consummation by performance of any contract for the sale, leasing or exchange of real estate; the services rendered to a client by an attorney at law in the performance of his duties as such; a receiver, trustee in bankruptcy, executor, administrator, guardian or conservator, while acting as such; a person selling real estate under order of any court; a trustee acting under a written instrument of trust, or deed or declaration of trust, or will, or his regular employees, acting in the course of their employment; a bank as defined in section one of chapter one hundred and sixty-seven or organized under the laws of the United States or an insurance company lawfully engaged in business in the commonwealth, or the regular employees of such bank or insurance company acting in the course of their employment, when such bank or insurance company is acting in any aforementioned capacity of a fiduciary or is acting for itself in negotiating a loan secured or to be secured by a mortgage or other encumbrance upon real estate or is acting for itself with reference to real estate owned, mortgaged, leased or rented, by or to it or which it seeks to acquire, lease or rent for its own use; a credit union organized under chapter one hundred and seventy-one or the regular employees thereof acting in the course of their employment.

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Terms Used In Massachusetts General Laws ch. 112 sec. 87QQ

  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Trustee: A person or institution holding and administering property in trust.