Environmental
A Michigan real estate agent representing a seller discovers a known buried oil tank on the property. The agent must:
AKeep it confidential to protect the seller's financial interest
BDisclose it to potential buyers as a material fact✓ Correct
CRemove it at the seller's expense before listing
DInform only the buyer's lender
Explanation
Known environmental hazards such as buried oil tanks are material facts in Michigan that must be disclosed to potential buyers. Concealing material defects violates Michigan agency law and could expose the agent and seller to liability.
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