North Carolina License LawIntermediateNorth Carolina Exam
Which of the following is NOT an exemption from the North Carolina real estate licensing requirement?
AAn owner selling their own property
BA licensed attorney performing real estate activities incidental to law practice
CA property manager handling 10 rental units for a feeCorrect
DA court-appointed receiver selling property
Why A property manager handling 10 rental units for a fee Is Correct
Answer C: A property manager handling 10 rental units for a fee
A property manager who handles rental units for a fee must hold a real estate license in NC. The other options are recognized exemptions under Chapter 93A.
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Key Terms to Know
Joint Tenancy
Co-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.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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