Minnesota License Law
A Minnesota real estate licensee wants to sell their own personal property. Which disclosure is required?
ANo disclosure is needed since it is their own property
BThey must disclose their licensed status in the transaction✓ Correct
CThey must use a licensed broker to handle the transaction
DDisclosure is only required if they are a broker
Explanation
Minnesota licensees must disclose their licensed status when buying or selling property for their own account. This ensures the other party knows they are dealing with a real estate professional and can make informed decisions. Failure to disclose licensed status in personal transactions violates Minnesota's licensing law.
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