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Under North Dakota Administrative Code Title 70, which of the following forms of agency disclosure satisfies the state's requirement for establishing a valid dual agency relationship?

Correct Answer

A) A written disclosure signed by both the buyer and the seller before the dual agency begins

North Dakota Administrative Code Title 70 requires that dual agency be disclosed in writing and that both the buyer and the seller provide written informed consent before the dual agency relationship commences. The consent must be obtained in advance — not after the fact. A signed written disclosure from both parties is the only form that satisfies this requirement.

Answer Options
A
A written disclosure signed by both the buyer and the seller before the dual agency begins
B
A disclosure included in the purchase agreement signed at closing
C
An oral disclosure made to both parties at the time of the first showing
D
A written disclosure acknowledged verbally by both parties during negotiations

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Related Topics & Key Terms

Key Terms:

dual_agencywritten_consentdisclosure_timingndrec_rules
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