Sentences with phrase «dual agents owe»
Dual agency relationships don't carry with them all of the traditional fiduciary duties to the clients; instead, dual agents owe limited fiduciary duties.
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In such relationships, dual agents owe limited fiduciary duties to both buyer and seller clients.
Dual agents owe limited fiduciary consent of both parties.
The statute requires that both the buyer and seller consent to the dual agent relationship, and the dual agent owes a fiduciary duty to both clients.
Not exact matches
The trial court awarded $ 91,635 to buyers, but found nothing was owed after offsetting the $ 275,000 settlement with dual agent.
The seller, regardless of her level of legal sophistication, was entitled to full disclosure in writing of the dual agency arrangement; the agent's failure to reveal that material fact disentitled her to the commission she would otherwise have been owed.
In Wagner, the Montana Supreme Court addressed the duty owed by a dual agent in a real estate transaction.
In this decision, the California Supreme Court considered the duty owed by a listing broker to the buyer when the broker is acting as a dual agent.
The court ruled that the dual agent duties of the Brokerage extended to its associate licensees and so the Listing Broker owed the equivalent disclosure duty to the Buyer that the Brokerage would.
Pennsylvania federal court rules that real estate brokerage did not owe fiduciary duties to seller when acting as a dual agent and so dismissed those claims against brokerage but allowed other claims made against brokerage to continue.
A dual agent does, however, still owe a duty of confidentiality of material information and accounting for funds.
When a homebuyer consents to dual agency his or her agent no longer owes the homebuyer important fiduciary duties.
In order to act as a limited dual agent, a licensee (whether the brokerage in brokerage agency or the designated agent in designated agency) must have the agreement of the two clients as to how the duties owed to those clients are to be modified or made inapplicable.