Answered step by step
Verified Expert Solution
Question
1 Approved Answer
mary knew her marriage was an shaky ground wjen she bought a house in her own name an owner who lives out of state contracts
mary knew her marriage was an shaky ground wjen she bought a house in her own name
an owner who lives out of state contracts a licensee who is in the state where the owners property is located. the owner hires the licensee to sell the property for $150,000. The licensee realized that the land is in the area that has been recently been rezoned
an owner who lives out of state contracts a licensee who is in the state where the owners property is located. the owner hires the licensee to sell the property for $150,000. The licensee realized that the land is in the area that has been recently been rezoned for a higher use. he tells the owner he will purchase the property himself. he does so, and 3 weeks later, sells the same property for $175,000. which of the following statements against this situation is correct?
a) the licensee cannot legally act as an agent for an owner who lives out of state without either an active real estate license from that state or help of a cooperating out of state licensee
b) since the property is sold at a profit within 6 months after purchase, the licensee must inform the owner of his selling price
c) the licensee can legally purchase the property only after informing the owner of the zoning change & how it will affect the property
d) as long as the licensee has informed the owner of his intentions to purchase the property himself, his actions are proper & legal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started