The state Division of Real Estate has suspended the license of sales agent Ted C. Murdock, Midvale, accused of dishonest dealing, making misrepresentations and failing to respond to a complaint against him, an order said.
To settle the charges, Murdock has agreed to be placed on a three-year suspension followed by a three-year probation.A petition issued by the division said Murdock agreed to sell a Bountiful condominium in September 1987 within four months. In November, Murdock arranged to have a friend buy the condominium, then Murdock would buy it back.
Murdock did not inform the seller or his broker that he would be the actual purchaser of the condominium, the petition said.
After closing, Murdock took possession of the property and rented it. But he did not have his friend deed the property to him nor did he make payments, the petition said.
The lender foreclosed on the property, the petition said, damaging the seller's credit rating.