Colorado License LawIntermediateColorado Exam
Which of the following would be considered 'unlicensed practice' of real estate in Colorado?
AA licensed broker negotiating a lease for compensation
BAn unlicensed person who collects rent as a salaried employee of the property owner
CAn unlicensed person who lists a neighbor's home for sale and earns a commissionCorrect
DAn attorney who prepares real estate contracts as part of legal representation
Why An unlicensed person who lists a neighbor's home for sale and earns a commission Is Correct
Answer C: An unlicensed person who lists a neighbor's home for sale and earns a commission
An unlicensed person who lists a property for sale and earns a commission is practicing real estate without a license, which is illegal in Colorado. Salaried employees of property owners and attorneys performing legal services have specific exemptions.
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Key Terms to Know
Easement
A non-possessory right to use another person's land for a specific purpose.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
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.
Math Concepts
State-Specific Concepts
License Law
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