- An out-of-state licensee can share a commission with a Rhode Island licensee, so long as out-of-state licensee does not conduct any negotiations within the state.
- An out-of-state licensee may bring a lawsuit for compensation if lawfully earned.
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ReciprocityConnecticut, Massachusetts* * Must reside in one of these States, complete a 3-hour course on Lead Poisoning, and are exempt from Rhode Island Continuing Ed. |
Specific to Rhode Island- Requires E&O (Agents have choices... but as with other states is available through RISC) https://www.risceo.com/states/rhode-island/ |
Reverse ReciprocityThese states specifically mention Rhode Island in their Reciprocity: Connecticut, Massachusetts, Nevada (Salesperson Only) These States recognize any other State licenses but may have additional requirements: Alaska, Alabama, Colorado, Georgia, Idaho, Indiana, Kansas, Kentucky, Maine, Nebraska, North Carolina, South Dakota, Tennesee, Vermont, Washington |
Customs
Attorneys usually conduct closings, but banks and title companies may also conduct them.
Conveyance is by warranty or quitclaim deed. Mortgages are the usual security instruments.
Rhode Island uses ALTA policies and endorsements.
Buyers pay title insurance premiums and closing costs; sellers pay documentary taxes.
Property taxes are payable annually, semi-annually, or quarterly.
Conveyance is by warranty or quitclaim deed. Mortgages are the usual security instruments.
Rhode Island uses ALTA policies and endorsements.
Buyers pay title insurance premiums and closing costs; sellers pay documentary taxes.
Property taxes are payable annually, semi-annually, or quarterly.
