Agency
What is 'termination of agency by operation of law' in Kansas real estate?
ATermination when the listing expires
BAutomatic termination of agency due to legal events such as death of a principal, adjudicated incapacity, bankruptcy, or destruction of the subject property✓ Correct
CTermination by written notice from the client
DTermination when a competing offer is accepted
Explanation
Agency may terminate automatically by operation of law when certain events occur without the parties taking formal action: death of the principal or agent, mental incapacity, bankruptcy, or destruction of the property that is the subject of the agency.
Related Kansas Agency Questions
- A Kansas agent who 'flips' a contract by buying property at a low price and immediately reselling to a client at an inflated price without disclosing the profit is engaging in:
- A Kansas seller's agent who knowingly misrepresents the property's square footage to a buyer may be liable for:
- In Kansas, which type of agency relationship allows a licensee to represent both buyer and seller in the same transaction with written consent?
- A Kansas listing agent who uses information from the listing to benefit themselves (such as purchasing the property through a relative) has committed:
- A Kansas buyer's agent whose client makes an offer on a property finds out the listing agent is the seller's relative. The buyer's agent should:
- In Kansas, a buyer's agent who negotiates for repairs on behalf of their buyer-client is fulfilling which fiduciary duty?
- When must a Kansas licensee provide an agency disclosure to a consumer?
- In Kansas, when a buyer's agent discovers a property is listed by their own firm, creating dual agency, they must:
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