Humber/Ontario Real Estate Course 3 Exam Practice

When dealing with an estate property sale, what must Salesperson Quan ensure?

1. At least two estate trustees must sign the agreement.

2. Consult the estate’s lawyer to confirm who must sign the agreement.

3. Only one trustee needs to sign the agreement.

4. The estate's lawyer must sign the agreement directly.

5. A minimum of three trustees must sign the agreement.

6. Two witnesses need to sign the agreement.

The correct answer is: Consult the estate’s lawyer to confirm who must sign the agreement.

When dealing with an estate property sale, Salesperson Quan must ensure to consult the estate's lawyer to confirm who must sign the agreement. This is important because different estates may have varying requirements regarding who has the authority to sign agreements on behalf of the estate. Seeking guidance from the estate's lawyer ensures that Salesperson Quan correctly identifies and involves the appropriate party in the agreement, preventing any legal issues or disputes down the line. Options A, C, E, and F are not correct because the number of trustees required to sign the agreement and whether witnesses are needed can vary depending on the specific requirements of the estate. Relying on the estate's lawyer for guidance on who must sign the agreement is the most prudent and legally sound course of action in such situations. Option D, stating that the estate's lawyer must sign the agreement directly, is not accurate. The lawyer's role is to provide legal advice and confirm the appropriate signatories, but the actual signing of the agreement would typically be done by the authorized trustee(s) of the estate.