Florida Real Estate Practice Exam

Who can provide Actual Notice in a transaction?

1. Only real estate agents

2. Parties with personal knowledge

3. Public officials only

4. Anyone who has inspected the public records

The correct answer is: Parties with personal knowledge

Actual notice typically refers to the knowledge or awareness a person has about a fact or situation. In a transaction, this could include information about the property, such as its condition or any legal issues surrounding it. Only parties with personal knowledge are able to provide this type of notice, as they have direct knowledge of the facts. Real estate agents may have some knowledge about the property, but they do not have firsthand knowledge and therefore cannot provide actual notice. Public officials may have information about the property, but they may not have personal knowledge of the specific details of the transaction. Anyone who has inspected public records may have some information, but this does not necessarily mean they have actual notice of the transaction.