In Rhode Island, a licensee intends to buy or acquire an interest in property listed with the licensee’s office. Which statement is correct?
Correct Answer
A) The licensee must disclose the licensee’s intention or true position to the owner
R.I. Gen. Laws § 5-20.5-14 makes failing to disclose a licensee’s intention or true position when buying or acquiring an interest in property listed with the office a disciplinary ground. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 §§ 2.14, 2.22, and R.I. Gen. Laws §§ 5-20.5-14 and 5-20.6; checked 2026-04-30.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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