Under Maryland law, which fiduciary duty requires a real estate licensee to place the client's interests above the interests of all other parties, including the licensee's own interests?
Correct Answer
B) Loyalty
The duty of loyalty requires a Maryland licensee acting as an agent to place the client's interests above those of all other parties, including the licensee's own financial interests. This is a core fiduciary obligation under the Maryland Real Estate Brokers Act and the agency framework established by MREC.
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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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