Under Kentucky law and 201 KAR 11:121, all of the following statements about agency disclosure are true EXCEPT:
Correct Answer
D) A verbal agency disclosure satisfies Kentucky's agency disclosure requirement if witnessed by a third party
Option D is the false statement. Kentucky's agency disclosure requirement under 201 KAR 11:121 mandates a written disclosure form that must be signed by the receiving party. A verbal disclosure — even if witnessed — does not satisfy this requirement. The written and signed format is essential for regulatory compliance and record-keeping purposes.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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