138. DO YOU HAVE A DUTY TO EXPLAIN THE LEGAL OR PRACTICAL IMPLICATION OF THE FACTS YOU DISCLOSE TO YOUR CLIENTS?


The fourth district court of appeals in a California case, Pagano V. Krohn, has held that you do not have a duty to explain these legal and practical implications. Your duty is to disclose.
Your duty is to disclose that which you know and that which you have discovered. The court held however that if the agent does not verify the information they are disclosing, the agent must state that they have not verified the information. Repeat: your obligation is not to verify information but your obligation is to state that you have not verified the information. This case may help real estate agents to understand their obligations regarding what constitutes adequate disclosure.

Share with your friends...Email this to someoneShare on FacebookTweet about this on TwitterShare on Google+Pin on Pinterest

Speak Your Mind

*