Under Ohio law, seller's agent Adam learns that a highway expansion project approved by the Ohio Department of Transportation will significantly increase traffic near his client's listed property within the next two years. Under Ohio agency law, what is Adam's obligation?
Correct Answer
B) Disclose the highway expansion to prospective buyers as a known material fact that could affect property value and livability
Under Ohio agency law, the duty to disclose known material facts to all parties includes information about upcoming changes that could materially affect property value. An approved highway expansion near the property is a known material fact.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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