New Jersey Real Estate Exam Practice Question
When a licensee takes a listing to sell a new multi-family residential property, the document that MUST be provided to the owner by the licensee is
Correct Answer: B
Rationale: When listing a new multi-family residential property, providing a lead-based paint disclosure form is essential due to federal regulations aimed at protecting tenants, especially in properties built before 1978. This form informs owners and potential buyers about the risks of lead exposure.
Option A, the Attorney General's Memorandum on Discrimination, while important, is not a mandatory document for every listing. Option C, the Truth-in-Renting Law, is relevant but not specifically required for listing multi-family properties. Option D, a list of municipalities in the MLS, is helpful but not a legal requirement for the owner at the time of listing.
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