(1) Exceptions to licensure. Except as otherwise stated below, an Idaho real estate license is not required for the following:
(a)  The purchase, option, exchange or sale of any interest in real property, or business opportunity for a person’s own account or use;
(b)  The acquisition, exchange or other disposition of any interest in real property or business opportunity by its owner or a regular employee of the owner, acting within the scope of his or her employment;
(c)  The sale, exchange, purchase or other disposition of any interest in real property or business opportunity by a duly authorized attorney in fact whose power of attorney is granted for the purpose of consummating a single transaction involving the conveyance of a single or undivided interest in a parcel of real property or in a business opportunity;
(d)  The acquisition or other disposition of any interest in real property or business opportunity by the following parties only if such acquisition or disposition is undertaken in the performance of their duties as:
(i)   A receiver, trustee in bankruptcy, legal guardian or conservator;
(ii)  An administrator, executor or personal representative of an estate;
(iii) Any person selling pursuant to the default provisions of a deed of trust, or any duly authorized agent thereof.
(e)  The acquisition or other disposition of any interest in real property or business opportunity by an attorney at law in connection with client representation, and if the attorney is not regularly engaged in the conduct or business of real estate broker or salesperson.
(2)  Active real estate licensees. An actively licensed real estate broker, associate broker or salesperson must comply with this chapter, regardless of whether the licensee otherwise qualifies for any of the exceptions of subsection (1) of this section.

Terms Used In Idaho Code 54-2003

  • Associate broker: means an individual who has qualified personally as a real estate broker in Idaho under this chapter, but is licensed under, associated with and represents a designated broker in the performance of any act described in subsection (39) of this section. See Idaho Code 54-2004
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Business opportunity: means and includes an established business, goodwill of an established business, or any interest therein, other than a lease, or any one (1) or combination thereof, where a sale or transfer of real property is involved in the transaction. See Idaho Code 54-2004
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Executor: A male person named in a will to carry out the decedent
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Licensee: means any person who is licensed in accordance with this chapter to engage in the business or act in the capacity of real estate broker, associate broker or real estate salesperson. See Idaho Code 54-2004
  • Person: means and includes an individual, or any legal business entity. See Idaho Code 54-2004
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Property: includes both real and personal property. See Idaho Code 73-114
  • Real estate broker: means and includes:
Idaho Code 54-2004
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Regular employee: means an individual who performs a service for wages or other compensation and whose employer withholds federal employment taxes under a contract of hire, written or oral, express or implied. See Idaho Code 54-2004
  • salesperson: means any person who has qualified and is licensed as a real estate salesperson in Idaho under this chapter and is licensed under, associated with, and represents a designated broker in the performance of any act described in subsection (39) of this section. See Idaho Code 54-2004
  • Trustee: A person or institution holding and administering property in trust.
    • (3)  Transactions involving personal property. An active licensee who, while acting on behalf of another, for compensation or for a promise or expectation of compensation, sells, lists, buys or negotiates, or offers to sell, list, buy or negotiate, the purchase or sale of a mobile home, manufactured home or floating home as defined by Idaho law, shall comply with this chapter regardless of whether such activity would otherwise require an Idaho real estate license.
    (4)  Exceptions to licensure shall not be used in any way to evade the purposes of this chapter. Any such attempt to evade this chapter shall be considered the unlicensed and unlawful practice of real estate.