When must a Utah real estate licensee provide the agency disclosure form to a prospective buyer or seller?
Correct Answer
B) Before the buyer or seller signs a binding contract
Under Utah Code §61-2f-401, a licensee must disclose their agency relationship to all parties before any party signs a binding agreement. This ensures informed consent before contractual obligations are created.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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