Wisconsin Real Estate Sales Practice Exam 2026 – Complete Prep Guide

The correct choice identifies exemptions under the Real Estate Condition Report law, which is designed to protect buyers by ensuring they receive essential information about the condition of a property. Fiduciaries appointed by the court, new construction properties, and those exempt from transfer tax are recognized exemptions because:

1. **Fiduciaries Appointed by Court:** These are representatives assigned by a court to manage the affairs of an estate or individual under certain circumstances. Their role inherently involves specific legal processes that may not necessitate standard disclosures, given their fiduciary duty to act in the best interest of those they represent.

2. **New Construction:** Properties that are newly built often do not require a condition report because they are sold with warranties from the builder or developer. The condition of these properties is typically known, as they have not been lived in or subject to the wear and tear that might require a condition report.

3. **Properties Exempt from Transfer Tax:** Some properties may be exempt from transfer taxes due to their nature or specific circumstances. This exemption often reflects that these transactions might not involve typical buyer-seller dynamics, warranting different disclosure requirements.

In contrast, the other options include categories of properties or situations that do not align with recognized exemptions under this law. Each