New Jersey Real Estate Exam Practice Question
According to the New Jersey Real Estate License Law, a licensee who wants to sell property that the licensee owns must
Correct Answer: D
Rationale: Under New Jersey Real Estate License Law, a licensee must disclose their ownership interest in the property being sold within the contract of sale. This ensures transparency and protects consumers by informing them of potential conflicts of interest.
Option A is incorrect because listing with another licensee is not a requirement; the licensee can sell their own property directly. Option B, while important, does not fulfill the legal requirement as it pertains only to advertisements, not the contract itself. Option C is also inaccurate since disclosure in the MLS listing does not satisfy the requirement specified in the contract of sale.
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