Under Delaware's Agency Relationships in Real Estate Transactions Act, a disclosed dual agent has specific limitations on what they may do for either party. Which of the following is NOT a limitation placed on a Delaware disclosed dual agent?
Correct Answer
C) The dual agent may not disclose known material defects of the property to the buyer
Under 24 Del. C. § 2973, a disclosed dual agent is still required to disclose known material defects of the property to the buyer. This duty of disclosure regarding material facts survives even in a dual agency relationship. The limitation on dual agents concerns confidential negotiating information — not the disclosure of material facts affecting the property's condition or value.
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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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