Which entities are explicitly exempt from needing a license for handling owned properties?

The correct choice is that corporations and LLCs are explicitly exempt from needing a license for handling owned properties. This exemption applies because these entities can manage their own properties without being classified as engaging in a real estate brokerage activity. This means that if a corporation or LLC owns the property, it can operate independently in terms of managing, leasing, or selling the property without requiring a real estate license.

Understanding this exemption is crucial in North Carolina's real estate regulations, as it clarifies the distinction between individuals or entities who are permitted to handle their own properties versus those who engage in real estate transactions on behalf of others, which generally requires licensing.

Other entities such as real estate brokers, individual property managers, and non-profit organizations are typically subject to licensing requirements when engaging in activities that involve the management or transaction of properties not solely owned by them. Therefore, recognizing the specific exemption for corporations and LLCs helps practitioners correctly navigate licensing regulations in the state.