A licensee who deliberately hides a known material defect from a buyer is guilty of which of the following?
Correct Answer
B) Fraudulent misrepresentation
Under Delaware law (24 Del. C. Ch. 29) and the Delaware Seller Disclosure of Real Property Condition Act, a licensee who knowingly conceals a material defect from a buyer commits fraudulent misrepresentation. This can result in license suspension or revocation, civil liability, and potentially criminal penalties. Silence or concealment of a known material defect is never acceptable conduct for a licensee.
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A buyer is considering purchasing a coastal property in Alaska located within a known tsunami inundation zone. Under Alaska's disclosure obligations, how should a licensee handle this information?
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A licensee who knowingly conceals a material defect from a buyer may be liable for which of the following?