Under MGL Chapter 151B, all of the following are conditions that must generally be met for the owner-occupant exemption to apply EXCEPT:
Correct Answer
D) The owner must have owned the property for at least one year prior to renting
There is no minimum ownership period required under MGL Chapter 151B for the owner-occupant exemption. The statute does not impose a one-year or any other durational ownership requirement. This condition is fabricated and does not exist in the law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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