A Maryland licensee acting as a seller's agent owes the seller full fiduciary duties. Which of the following is NOT a fiduciary duty owed by the seller's agent to the seller under Maryland law?
Correct Answer
C) Suitability — ensuring the property is suitable for the buyer's intended use
Suitability is not a fiduciary duty owed by a seller's agent to the seller. Ensuring that a property is suitable for the buyer's intended use is a concern of the buyer and the buyer's agent, not the seller's agent. The recognized fiduciary duties under Maryland law include loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting — none of which include suitability for the buyer.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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.
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