Alaska License LawIntermediateAlaska Exam
An Alaska licensee who assists a buyer in a real estate transaction where the buyer also has a family member who is a licensee at the same brokerage must:
ATransfer the client to the family member
BDisclose the family member's licensee status to both partiesCorrect
CWithdraw from the transaction automatically
DDisclose only if the family member is directly involved in the transaction
Why Disclose the family member's licensee status to both parties Is Correct
Answer B: Disclose the family member's licensee status to both parties
When a licensee at the brokerage has a family relationship to a party in the transaction, this is a potential conflict that should be disclosed. Transparency about relationships between licensees and parties helps clients make informed decisions about their representation.
Key Alaska License Law Terms in This Question
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
License Law
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