Legal Question in Real Estate Law in California

Re: what license is needed to agent TIC investment sales

sorry but your question is substantially unintelligible. A standard brokers license in California should allow for normal real estate transactions. If they'll what you are talking about is not a normal I sell real estate transaction the actual sale of securities as defined by the California department of corporations and/or the SEC that of course you're going to need some kind of license much more specific applicable to the kind of transactions you would be describing your question, whatever those are. You must make your description more specific and if this is applicable to your livelihood, standup, turnoff of the monitor, go to the car and drive to attorneys specialized in securities as well as real estate only have the expertise to answer this question. The much more specific and find out what he/she would give you as advice. If it applies to your livelihood start waiting for free legal advice over the net as that is weighing two important screw around with.

Re: what license is needed to agent TIC investment sales

First, this question should probably have been asked under the securities law heading rather than real estate, but since I am signed up to answer questions in both categories, I'll take a shot at it. If you want more and better answers, re-inquire under 'securities.'

Next, as I recall it, Series 22 is one of the lower-level NASD exams and licenses, and allows holders to act as agents or sellers for what are called 'direct participation' investments.

Without closely examining the TIC deals you're proposing to sell, it would be impossible to say with certainty that you need an NASD license of any kind in addition to or instead of a real estate (business broker) license, but based purely on your very brief description it sounds as though the participations would be considered securities and an NASD license would be needed.

The definition of securities used by the SEC and the courts is very broad. I think it's found in Section 2(1) of the Securities Act of 1933. Of course, the statutory definition has been fine-tuned by decades of court decisions, generally having the effect of broadening the definition.