New Mexico License Law
In New Mexico, which of the following is an accurate description of the 'broker's duties' as a transaction broker?
AFull fiduciary duties to both parties
BLimited duties of honesty, fairness, skill, disclosure of material facts, and accounting—without fiduciary loyalty to either party✓ Correct
COnly to perform ministerial acts
DFull fiduciary duties to the seller only
Explanation
A transaction broker in New Mexico provides limited representation—assisting both parties without fiduciary loyalty to either. They must be honest, fair, use skill and care, disclose material facts, and account for funds.
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