Agency
Under Nevada law, when does a buyer's agency agreement typically terminate?
AAfter 30 days regardless of any agreement
BUpon the occurrence of any of: expiration of the agreement's term, closing on a property under the agreement, mutual agreement to terminate, or breach by either party✓ Correct
COnly when the buyer cancels in writing
DBuyer's agency agreements in Nevada cannot be terminated before the agreed end date
Explanation
A buyer's agency agreement in Nevada terminates upon: (1) expiration of the agreed term, (2) successful closing on a property under the agreement, (3) mutual written agreement to terminate, (4) material breach by either party, or (5) operation of law (death, incapacity, bankruptcy). Buyers should understand the duration and termination provisions before signing. Some Nevada agreements include automatic renewal clauses, so buyers should read carefully before committing to extended terms.
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