Under Nevada law, the Duties Owed by a Nevada Real Estate Licensee disclosure form is required to be provided in which type of transaction?
Correct Answer
C) In all real estate transactions involving a Nevada licensee, including commercial and residential
Under NRS 645.252 and NAC 645.637, the Duties Owed by a Nevada Real Estate Licensee disclosure form is required in all real estate transactions involving a Nevada licensee — this includes both residential and commercial transactions, and applies regardless of which party the licensee represents. The form must be provided at first substantive contact with any prospective buyer or seller.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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