§ 32 §13275 — Disclosed dual agent

1.
Consent agreement; disclosed dual agent.
A real estate brokerage agency may act as a disclosed dual agent only with the informed written consent of all parties. Consent is presumed to be informed if the party signs an agreement that contains the following:
2.
Cause of action.
A cause of action may not be brought on behalf of any person against a disclosed dual agent for making disclosures permitted or required by this subchapter and the disclosed dual agent does not terminate any client relationship by making disclosures permitted or required by this subchapter.
3.
Actual knowledge; information.
In a disclosed dual agent situation each client and the real estate brokerage agency and its affiliated licensees are considered to possess only actual knowledge and information. There is no imputation of knowledge or information by operation of law among or between the clients, the real estate brokerage agency or its affiliated licensees.
4.
Duty to parties.
The duty of a disclosed dual agent to the client who is selling is the same as set forth in section 13273, and the duty to the client who is buying is the same as set forth in section 13274, except that:

Legislative History

PL 1993, c. 679, §1 (NEW). PL 2005, c. 378, §§15-17 (AMD). PL 2005, c. 378, §29 (AFF).