North Dakota License Law
Which of the following persons is EXEMPT from requiring a real estate license in North Dakota?
AA property manager who collects rents for owners
BAn attorney-in-fact executing a power of attorney for a principal✓ Correct
CA person who advertises another's property for compensation
DA person who negotiates leases for others for a fee
Explanation
An attorney-in-fact acting under a duly executed power of attorney is exempt from needing a real estate license in North Dakota.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
EasementA non-possessory right to use another person's land for a specific purpose.
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.
State-Specific Concepts
License Law
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