Alabama License LawIntermediateAlabama Exam
In Alabama, which of the following is considered the practice of real estate?
AGiving a friend advice about buying a home
BNegotiating the sale of another person's property for compensationCorrect
CManaging your own rental property
DHelping a family member find a home with no compensation, in general
Why Negotiating the sale of another person's property for compensation Is Correct
Answer B: Negotiating the sale of another person's property for compensation
Negotiating the sale of another person's real property for compensation is the practice of real estate and requires licensure in Alabama. Activities done for free or for one's own property do not require a license.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Adverse PossessionA doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.
Fair Housing ActFederal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
State-Specific Concepts
License Law
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