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If an active Oregon real estate broker associated with a principal broker sells property he owns completely, as an individual:

I. The law requires the licensee to reveal his license status to the purchaser before the offer is accepted.
II. The licensee must turn the funds over to the principal broker to be deposited into a neutral escrow depository in Oregon or into the principal broker's clients' trust account.
a) I only
b) II only
c) Both I and II
d) Neither I nor II

User Corneliu
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Final answer:

Real estate brokers in Oregon must disclose their licensee status when selling their own property, but they are not required to turn over funds from the sale to their principal broker or into escrow. Thus, the correct answer is (a) I only.

Step-by-step explanation:

When it comes to real estate transactions, certain disclosures and handling of funds are regulated by state law. In the scenario where an active Oregon real estate broker is selling a property they own, there are two main points to consider: The broker must disclose their license status to the prospective buyer before the offer is accepted.

This is meant to inform the buyer of the broker's professional expertise and possible advantages. However, the broker is not required to turn over the funds from a personal property sale to the principal broker or to a neutral escrow depository.

Since the transaction does not involve the broker's professional duties on behalf of a client, but rather a personal sale, the funds do not need to go through the brokerage or escrow. Therefore, the correct answer to whether the broker must disclose their licensee status and whether they must turn funds over to a principal broker or escrow is (a) I only).

User Mxx
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