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Practice Of Real EstateLicense_lawMEDIUM

Under Kentucky Real Estate License Law (KRS Chapter 324), all of the following individuals are generally required to hold a Kentucky real estate license to perform real estate brokerage activities for compensation EXCEPT:

Correct Answer

C) An attorney-at-law who performs real estate activities that are incidental to the practice of law.

Under KRS Chapter 324, licensed attorneys-at-law are exempt from the real estate license requirement when performing real estate activities that are incidental to the practice of law. This is a statutory exemption that recognizes attorneys' existing professional licensing and ethical obligations. An attorney who, for example, handles a real estate closing or negotiates a contract as part of legal representation does not need a separate real estate license for those activities.

Answer Options
A
A person who lists and sells residential properties on behalf of third parties for a commission.
B
A person who negotiates commercial leases on behalf of a property owner in exchange for a fee.
C
An attorney-at-law who performs real estate activities that are incidental to the practice of law.
D
A person who manages rental properties for multiple owners and collects rent for compensation.

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Related Topics & Key Terms

Key Terms:

license_exemptionsattorney_exemptionunlicensed_practicekrs_324_030reverse_question

Related Concepts

The National Do Not Call Registry is a federal program administered by the FTC that allows consumers to opt out of receiving unsolicited telemarketing calls, including calls from real estate agents soliciting business.

Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.

FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.

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