Under Indiana's Agency Relationships in Real Estate Transactions Act, which of the following statements correctly describes the requirement for the Indiana written agency disclosure?
Correct Answer
C) The form must be provided at first substantive contact, signed by all parties, and retained by the licensee
Under IC 25-34.1-10, the Indiana written agency disclosure (the written agency disclosure) must be provided at first substantive contact with any party. The form must be signed by all parties acknowledging receipt, and the licensee is required to retain a copy. This three-part requirement — timing, signature, and retention — is mandated by Indiana law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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