South Dakota § 36-21A-140 Licensee as limited agent--Written consent of all parties required--Duties and obligations.

South Dakota Statutes

§ 36-21A-140 — Licensee as limited agent--Written consent of all parties required--Duties and obligations.

South Dakota·Title 36 PROFESSIONS AND OCCUPATIONS·Ch. 36-21 REAL ESTATE LICENSING

A licensee may act as a limited agent only with the informed written consent of all parties to the transaction. A limited agent is an agent for both the seller and the buyer and has the following duties and obligations:

(1)To perform the terms of any written agreement made with the client;

(2)To exercise reasonable skill and care for the client;

(3)To present all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease;

(4)To disclose to the client adverse material facts known by the licensee;

(5)To advise the client to obtain expert advice as to material matters about which the licensee knows but the specifics of whic

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A licensee may act as a limited agent only with the informed written consent of all parties to the transaction. A limited agent is an agent for both the seller and the buyer and has the following duties and obligations: (1) To perform the terms of any written agreement made with the client; (2) To exercise reasonable skill and care for the client; (3) To present all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease; (4) To disclose to the client adverse material facts known by the licensee; (5) To advise the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee; (6) To account in a timely manner for all money and property received; and (7) To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.

South Dakota § 36-21A-140 (Licensee as limited agent--Written consent of all parties required--Duties and obligations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.