Idaho License Law
What must an Idaho licensee do if a client asks them to prepare a real estate contract without an attorney?
ARefuse because only attorneys can prepare contracts
BUse standard approved forms and fill in blanks, but may not draft unique contract provisions✓ Correct
CDraft any contract the client requests
DRefer the client to IREC for contract assistance
Explanation
Idaho licensees may use standard, board-approved forms to prepare purchase agreements and may complete blanks in standard forms. They may NOT draft unique contract clauses or provide legal advice — those activities constitute unauthorized practice of law.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
LienA 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.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
State-Specific Concepts
License Law
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