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Which Kentucky rule applies when the property management agreement is finalized?

Correct Answer

D) The agreement must include the signature and date of signature of the client and principal broker

201 KAR 11:121 Section 10 requires client and principal broker signatures and dates. Source basis: 201 KAR 11:121 Section 10 and KRS 324.111, Kentucky Legislative Research Commission official sources: property management agreements, ledgers, deposit timing, escrow/management accounts, and property-management account records; checked 2026-04-30.

Answer Options
A
An oral management understanding is enough whenever the owner trusts the broker.
B
Property management money may be handled as ordinary company operating funds.
C
The duty arises only after a tenant files a complaint.
D
The agreement must include the signature and date of signature of the client and principal broker

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Related Topics & Key Terms

Related Topics:

ky.VIproperty_management

Key Terms:

kentuckyky.VIproperty_managementsignatures-dates

Related Concepts

The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.

Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.

Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.

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