HH the Heir Apparent Sheikh Tamim bin Hamad al-Thani yesterday issued Law No 13 of  2011, regulating  the practice of real estate brokerage.  All current real estate brokerage companies should modify their status within six months  to comply with the stipulations of the new law.
The new rule, which is expected to curb the malpractices of unscrupulous middlemen, specifies conditions and standards for those who would like to undertake the business of property brokerage. Article  2 of the law stipulates the conditions for granting permits to practice real estate brokerage. It is forbidden to practice such business without getting a licence from the Ministry of Business and Trade .
Citizens above 18, who are literate and having a permanent residence in Qatar, are eligible to apply for a licence. They should have a clean legal record.
As for firms, they should have real estate brokerage as one of their listed activities. For partnership companies, the stake of Qatari partners should not be less than 51% of its total capital. Also, the main headquarters of the company should be in Qatar. The company should not have been declared bankrupt by a court and its manager should have a clean judicial record.
To obtain a licence  to practice real estate business, an application should be submitted to the competent department at the Ministry supported by  relevant documents. The department will decide on the application within 30 days.  The renewable permit will be valid initially for two years.
No person or firm can undertake the business of  brokerage unless he gets a mandate from the owner of the property supported by necessary documents. 
The law spells out the rules that the broker has to follow while advertising for the property and various related dealings. 
In case the real estate broker violates any of the stipulations of Articles 9, 8, 11 and 12 , the government can suspend the licence  for three months and six months for violation of Article 10. The permit can be cancelled in case of not following any of the stipulated conditions or repetition of violations.
The law stipulates fines up to QR50,000 for practicing the profession without a permit or for other violations such as manipulation or breach of trust.

Distressed homeowners in Nevada were handed several key protections in the last legislative session, with one new law potentially spelling trouble for banks guilty of sloppy record keeping while selling mortgage notes to investors.
The measures include protections against unscrupulous debt buyers who "double dip" by buying mortgage notes for pennies on the dollar and then turn around to collect debt from borrowers for the note's original amount.
Stricter documentation requirements also means banks must show actual proof of ownership before being allowed to complete a foreclosure sale.
Overall, the protections provide relief for borrowers frustrated by a system that typically did not come down hard on lenders who failed to act in good faith.
Three new laws in particular -- Senate Bill 414 and Assembly Bills 273 and 284 -- are expected to make a difference in addressing the state's ongoing foreclosure crisis.
Nevada continued to lead the nation for the 54th straight month in June with a foreclosure-related activity rate of one in 114 housing units, according to RealtyTrac. Nearly three in five homes with a mortgage in the Reno-Sparks market also were either suffering from negative equity or are at risk of being underwater during the first quarter of 2011, according to a report from CoreLogic.
"These new statutes are huge," said Greg Jensen, owner of the Jensen Law Group in Reno. "It looks like the Legislature really did their homework."