Definitions

PURPOSE: This rule defines the terminology used in the rules of the Missouri Real Estate Commission. (1) Words defined in section 339.010, RSMo shall have the same meaning when used in these rules. (2) The following words shall be defined as stated: (A) Commission shall mean the Missouri Real Estate Commission; (B) License law shall mean Chapter 339, RSMo; (C) Association shall mean an unincorporated body of persons united and acting together for the prosecution of some common enterprise, but not a partnership; and (D) Residential property shall mean all real property improved by a structure which is used or intended to be used primarily for residential living by human occupants and which contains not more than four (4) dwelling units or which contains single dwelling units owned as a condominium or in a cooperative housing association, and vacant land classified as residential property. The term cooperative housing association means an association, whether incorporated or unincorporated, organized for the purpose of owning and operating residential real property in Missouri, the shareholders or members of which, by reason of their ownership of a stock or membership certificate, a proprietary lease or other evidence of membership, are entitled to occupy a dwelling unit pursuant to the terms of a proprietary lease or occupancy agreement. (E) Commercial real estate shall mean any real estate other than real estate containing one to four (1–4) residential units, real estate on which no buildings or structures are located, or real estate classified as agricultural and horticultural property for assessment purposes as provided by section 137.016, RSMo. Commercial real estate does not include single family residential units including, condominiums, townhouses or homes in a subdivision when that real estate is sold, leased or otherwise conveyed on a unit-by-unit basis even though the units may be part of a larger building or parcel of real estate containing more than four (4) residential units. (3) The singular number shall include the plural, the plural the singular and the use of any gender shall be applicable to all genders. AUTHORITY: section 339.120, RSMo Supp. 1993.* This rule originally filed as 4 CSR 250-2.010. Original rule filed Sept. 25, 1975, effective Oct. 15, 1975. Amended: Filed Aug. 16, 1976, effective Nov. 11, 1976. Rescinded and readopted: Filed Nov. 14, 1978, effective Feb. 11, 1979. Amended: Filed Nov. 15, 1991, effective June 25, 1992. Amended: Filed Feb. 2, 1994, effective Aug. 28, 1994. Moved to 20 CSR 2250-2.010, effective Aug. 28, 2006. *Original authority: 339.120, RSMo 1941, amended 1963, 1967, 1981, 1988, 1993.