Humber/Ontario Real Estate Course 2 Exam Practice

When must a registrant disclose their interest in a property transaction?

1. Only when the intended use is different from the current use.

2. Only when they are buying, not selling the property.

3. When full disclosure of facts affecting property value is required.

4. When the buyer is a family member.

5. Only for commercial real estate transactions.

6. When the property transaction involves a public entity.

The correct answer is: When full disclosure of facts affecting property value is required.

A registrant must disclose their interest in a property transaction when full disclosure of facts affecting property value is required. This is the correct answer because full disclosure of all material facts that could affect the value or desirability of the property is crucial in a real estate transaction to ensure transparency and fairness to all parties involved. By disclosing their interest, the registrant allows the other parties to make informed decisions based on complete information. Options A, B, D, E, and F are incorrect because they do not capture the general principle that requires full disclosure of all material facts affecting property value, which is a fundamental ethical standard in real estate transactions.