Under Connecticut agency law, all of the following are fiduciary duties that a buyer's agent owes exclusively to the buyer client EXCEPT:
Correct Answer
C) Disclosure of known material defects in the property to the buyer
Disclosure of known material defects in the property is not a duty owed exclusively to the buyer client—it is a duty owed to ALL parties in the transaction, including customers who are not represented clients. Under Connecticut agency law, every licensee must disclose known material facts about a property to any party, regardless of agency relationship. Therefore, it is not a fiduciary duty exclusive to the buyer's agent-client relationship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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