Under Minnesota law, which of the following statements about the facilitator role is NOT accurate?
Correct Answer
C) A facilitator owes the same fiduciary duties as a dual agent, but to a lesser degree
Under Minn. Stat. § 82.67, a facilitator does NOT owe fiduciary duties at all — not even to a lesser degree than a dual agent. The facilitator role was specifically created as a non-agency alternative. A dual agent owes modified fiduciary duties to both parties; a facilitator owes only limited statutory duties (material fact disclosure and accounting for funds). The statement that a facilitator owes 'the same fiduciary duties as a dual agent, but to a lesser degree' is inaccurate because facilitators owe no fiduciary duties whatsoever.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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.
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