Who can be a Limited Partner in a Real Estate Brokerage Limited Partnership?

• A. Only licensed brokers
• B. Only individuals with active licenses
• C. Anyone licensed or unlicensed
• D. Only corporations

Answer: (C)

In a Real Estate Brokerage Limited Partnership, the limited partner is an investor who provides capital and does not handle the brokerage activities. Licensing is tied to performing real estate brokerage work, not to being an investor. So a passive investor can be a limited partner whether they are licensed or unlicensed, as long as they refrain from engaging in activities that require a real estate broker license. This is why the best answer is that anyone licensed or unlicensed can be a limited partner. The key idea is that the limited partner’s role is investment, not brokerage service delivery, which is handled by the general partner with the necessary licenses.