Under Ohio law, buyer's agent Frank represents client Sue. Sue finds a property she wants to buy but learns that Frank's brokerage has a financial interest in the title company being used for closing. Under Ohio agency law, what is required?
Correct Answer
B) Frank must disclose the brokerage's financial interest in the title company to Sue in writing, as required by RESPA and Ohio agency law
Under both RESPA and Ohio agency law, affiliated business arrangements must be disclosed in writing to the consumer. Sue has the right to know about the financial relationship and choose whether to use the affiliated title company.
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