Posted by William Bronchick on February 11, 2004 at 08:56:22:
It’s your option, you exercised it. How would this be on behalf of
another?
Lease optioning in Kentucky - Posted by Dwight
Posted by Dwight on February 10, 2004 at 11:55:51:
I heard a rumor that you have to have some kind of license to do this here. Is there any clout to this or is it just a rumor?
Re: Lease optioning in Kentucky - Posted by William Bronchick
Posted by William Bronchick on February 10, 2004 at 20:35:35:
Kentucky law, cited below requires a licens for someone to act “for another”, which would not apply if you are acting on your own behalf.
324.010 Definitions for chapter – Application of chapter.
As used in this chapter, unless the context requires otherwise:
(1) “Real estate brokerage” means a single, multiple, or continuing act of dealing in time shares or options, selling or offering for sale, buying or offering to buy, negotiating
the purchase, sale, or exchange of real estate, engaging in property management, leasing or offering to lease, renting or offering for rent, or referring or offering to refer for the purpose of securing prospects, any real estate or the improvements thereon FOR OTHERS for a fee, compensation, or other valuable consideration;
Re: Lease optioning in Kentucky - Posted by Dwight
Posted by Dwight on February 11, 2004 at 08:08:38:
Thank you for your reply above. Still a little bit foggy here.
If I bought an option to purchanse a house, advertised, got a buyer and exercised this option, this would be considered “on my own behalf” or “for another”?