South Carolina License Law
Which of the following would require a South Carolina real estate license?
AA property owner selling their own home
BAn employee of a company managing company-owned property
CA licensed attorney handling a client's real estate transaction
DA property manager leasing properties for multiple owners for compensation✓ Correct
Explanation
Managing or leasing properties for multiple owners for compensation is a real estate activity requiring a license. Exemptions include owners selling their own property, company employees managing company property, and attorneys.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
State-Specific Concepts
License Law
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