New Jersey Real Estate Practice 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: A
Rationale: When a licensee lists a new multi-family residential property, they are required to provide the owner with an Attorney General's Memorandum on Discrimination. This document informs owners about their obligations under fair housing laws, ensuring compliance and promoting awareness.
Option B, the lead-based paint disclosure form, is necessary for properties built before 1978 but not specifically required for new constructions. Option C, a copy of the Truth-in-Renting Law, is relevant but not mandatory for all listings. Option D, while useful, is not a legal requirement for listing a property.
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