Sentences with phrase «adverse information about the property»

Should the lawyer determine that the client has adverse information about the property, the lawyer must advise the title insurer.

Not exact matches

The law requires real estate licensees to perform the following basic duties when dealing with any real estate buyer or seller as customers: present all offers in a timely manner, account for money or other property received on your behalf, provide an explanation of the scope of services to be provided, be fair and honest and provide accurate information, provide limited confidentiality, and disclose «material adverse facts» about the property or the transaction which are within the licensee's knowledge.

In both cases, the law protects the seller (usually an heir or financial institution) who has recently acquired the property through adverse circumstances and may have little or no direct information about it.

In both instances, the law protects the seller — usually the heir or financial institution — who has recently acquired the property through adverse circumstances and may have little or no direct information about it.

The law, however, also requires licensees to disclose adverse facts about a property regardless of whether their client wants that information disclosed.