Question

Agent Rashad owns all his property in an Illinois land trust. When purchasing unlisted property, he must:

a) disclose his status as a licensee before making an offer.
b) disclose his status as a licensee anytime before closing.
c) not make any disclosure, unless he so chooses.
d) not make any disclosure, as it would violate trust laws.

Answer 1

Agent Rashad must disclose his status as a licensee before making an offer when purchasing unlisted property in an Illinois land trust.

Step-by-step explanation:

When purchasing unlisted property, Agent Rashad must disclose his status as a licensee before making an offer. As an Illinois land trust owner, it is important for Agent Rashad to be transparent about his status as a licensee to potential sellers. This ensures that all parties involved in the transaction are aware of his professional role and responsibilities.