A general partnership can buy or sell real estate for its own use but cannot provide real estate brokerage services to the public.

• A. Cannot own real estate or engage in any real estate activity
• B. Can buy and sell real estate for its own use but cannot provide brokerage services to the public
• C. Can only lease property but not buy/sell
• D. Can buy and sell real estate for its own use and also provide brokerage services to the public

Answer: (B)

The important idea is the distinction between owning property for the entity’s own use and acting as a real estate broker for others. A general partnership may own real estate and can buy or sell it for its own use. However, providing real estate brokerage services to the public requires a licensed broker (or a licensed brokerage entity). So the partnership can transact for its own use, but cannot offer brokerage services to the public unless it holds the appropriate license.

That’s why the statement is correct: it can buy and sell real estate for its own use but cannot provide brokerage services to the public. The other options misstate what a general partnership is allowed to do with respect to ownership, restrictions to leasing, or providing broker services without a license.