Question

Six individuals decide to form a real estate brokerage partnership. All six individuals are planning to be active in real estate sales. Which one best applies?

a. The partnership must be registered with the Commission, and all six partners must be active real estate brokers.
b. At least one partner must be licensed as an active broker.
c. Only two partners must have a real estate license.
d. A partnership cannot be formed as a brokerage business.

Answer 1

In a real estate brokerage partnership, all six partners must be active real estate brokers and the partnership must be registered with the Commission.

Step-by-step explanation:

A partnership is a form of business organization in which two or more individuals work together and share in the ownership and responsibility of the business. In the context of a real estate brokerage partnership, the requirements for licensing may vary depending on the specific laws and regulations of the state where the partnership is formed.

In some states, such as Texas, all partners in a real estate brokerage partnership must hold an active real estate broker license, as stated in option a. This means that all six partners must be licensed as active real estate brokers. This requirement ensures that all partners have the necessary knowledge and qualifications to engage in real estate sales and transactions.

Therefore, the best option that applies in this situation is a. The partnership must be registered with the Commission, and all six partners must be active real estate brokers.