Under Ohio law, dual agency requires the informed written consent of:
Correct Answer
A) Both the buyer and the seller
Under ORC §4735.71, dual agency in Ohio requires the informed written consent of both the buyer and the seller before the dual agency relationship can be established.
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A licensee representing a seller learns that the seller has defaulted on their mortgage and that the lender has initiated foreclosure proceedings against the property. A prospective buyer asks whether there are any encumbrances or title issues affecting the property. What is the licensee's obligation under Ohio law?