Under the West Virginia Real Estate License Act, the West Virginia Real Estate Commission has authority to take disciplinary action against a licensee for several types of conduct. Which of the following is NOT a recognized ground for disciplinary action by the WVREC?
Correct Answer
C) Practicing real estate in another state without a WV reciprocal license
The WVREC's disciplinary authority under W. Va. Code § 30-40-1 et seq. extends to conduct within its jurisdiction — primarily activities related to West Virginia real estate licensing and transactions. Practicing real estate in another state without a reciprocal WV license is not a violation of West Virginia law; it would be governed by that other state's licensing authority. The WVREC cannot discipline a licensee for activities that fall exclusively under another state's jurisdiction.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
A trust account, also called an escrow account, is a separate bank account maintained by a broker to hold funds belonging to others, such as earnest money deposits, security deposits, or other client funds.
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