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Florida Real Estate Exam

Category - Florida

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A Florida lender would look to a borrower’s personal assets if the borrower were a:

Limited partnership
Partnership
Corporation
Never

Explanation

Answer B - Partners have personal liability in the partnership for debts related to the business. In a corporation, only corporate assets are held accountable; in a limited partnership, the general partner holds all of the personal liabilities for the debts of the limited partnership.

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