Regarding Kentucky tobacco farms, a real estate agent should know that:
Correct Answer
B) Federal tobacco buyout in 2004 eliminated quotas, so they no longer convey with land, but tobacco barns and infrastructure may still affect value
The Fair and Equitable Tobacco Reform Act of 2004 ended the federal tobacco quota and price support system. While tobacco quotas no longer exist to add value, tobacco-related infrastructure (curing barns, equipment) may affect farm property valuations.
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In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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