What can a limited partnership do regarding real estate?

• A. It can transact real estate for its own use without an active broker.
• B. It can provide real estate brokerage services to the public.
• C. It can only lease real estate.
• D. It cannot transact real estate at all.

Answer: (A)

In real estate licensing, the key idea is who needs a broker and who can handle property for ownership’s own use without one. A limited partnership can own real estate and deal with it for its own purposes—buying, selling, leasing, or mortgaging the property—without hiring a licensed broker to represent it. This is allowed because it’s acting on behalf of its own interests, not performing brokerage services for others in exchange for a commission. Providing real estate brokerage services to the public, such as listing property or representing buyers or sellers for a fee, requires a licensed broker to be involved. Leasing itself is something the partnership can do if it owns the property, but the broader ability to transact for use fits the described scenario, whereas the other statements either overstate what a partnership can legally do (brokerage for the public) or understate its actual rights (it can transact beyond just leasing, and it is not barred from transacting at all).