Connecticut licensee Angela is working as a dual agent in a transaction where she represents both the seller, Mr. Chen, and the buyer, Ms. Rivera, with the informed written consent of both parties. Regarding agency disclosure in this dual agency situation, which statement accurately reflects Connecticut law requirements?
Correct Answer
D) Angela must obtain written informed consent from both Mr. Chen and Ms. Rivera and must provide agency disclosure clarifying the dual agency relationship
Connecticut permits dual agency but requires informed written consent from both the buyer and the seller. Under CGS § 20-325c and Connecticut agency law, the licensee must provide agency disclosure clarifying the dual agency relationship and obtain written consent from all parties. This ensures both parties understand the limitations on the agent's ability to advocate solely for either side.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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