A Texas broker wants to form a partnership with another broker to operate a real estate brokerage. Under TRELA, what licensing requirement applies to the partnership?
Correct Answer
C) The partnership must obtain its own broker license from TREC and designate a licensed broker partner to be responsible for the entity
Under Texas Occupations Code §1101.355, a partnership that engages in real estate brokerage must obtain its own broker license from TREC. The partnership must designate a licensed broker partner who is responsible for the entity's compliance with TRELA and TREC rules.
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More Trela Trec Rules Questions
Under TREC rules, a trust account used by a Texas real estate broker to hold client funds must be maintained at which type of institution?
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Under TREC rules, how many hours of continuing education (CE) must a Texas real estate license holder complete during each 2-year renewal cycle?
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- → Under TRELA, the Texas real estate licensing examination for a sales agent consists of which sections?
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