Under Kentucky law, when must the agency disclosure form required by 201 KAR 11:121 be signed by the parties?
Correct Answer
A) At or before first substantive contact with any party to the transaction
Under 201 KAR 11:121, Kentucky licensees are required to provide and obtain a signed agency disclosure at or before first substantive contact with any party. This ensures that all parties understand the agent's role and whom the agent represents before any meaningful discussions about property or transactions begin.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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