REAL ESTATE: Provides for real estate service agreements. (gov sig)

This bill establishes a new legal framework for real estate service agreements in Louisiana, specifically targeting the sale of residential properties with one to four dwelling units. It defines these agreements as contracts where a broker is authorized to sell a home in exchange for compensation from the owners, while explicitly prohibiting brokers from placing liens, mortgages, or security interests on the property to secure their fees. The legislation further ensures that such agreements cannot be recorded in public land records and will not bind third-party buyers or creditors, effectively preventing brokers from using property liens to collect commissions. Additionally, the law provides a mechanism for interested parties to petition a court to remove any improperly recorded service agreements or liens from public records.