Question

A, B, and C bought 640 acres of land with equal and undivided interest. A and B were brokers, and C was not. A and B were frequent business partners but decided to let C handle the resale of the

tract. C had very little experience but was able to find a buyer willing to pay a good price. Because of this, A and B decided to give C 40% of the profits and divide equally the balance of the profit. Which applies?
a. C can do this if C is an attorney
b. C can do this because A and B are brokers
c. F.S. 475, has been violated
d. Since C is selling C's own land, C does not have to be registered

Answer 1

The answer is c. F.S. 475, has been violated.

Step-by-step explanation:

The answer to this question is c. F.S. 475, has been violated.

This answer is derived from the information provided in the question. The question states that A, B, and C bought 640 acres of land together, with equal and undivided interest. A and B, who are brokers, decided to let C, who has little experience, handle the resale of the land. C was able to find a buyer willing to pay a good price, and as a result, A and B decided to give C 40% of the profits and divide the balance of the profit equally.

According to F.S. 475, which likely refers to a Florida Statute related to real estate brokerage, C is not a licensed broker and therefore violated the law by engaging in real estate brokerage activities. A and B, as licensed brokers, should have handled the resale themselves or hired a licensed broker to handle it on their behalf.