Agency
Which statement is TRUE regarding material facts in North Carolina real estate?
AOnly physical defects qualify as material facts
BStigmatized property conditions (e.g., prior murder) are always material facts requiring disclosure
CDeath from natural causes in a home is NOT required to be disclosed under NC law✓ Correct
DBrokers must disclose all facts they learn regardless of materiality
Explanation
Under North Carolina's Residential Property Disclosure Act, death by natural causes in a property is not required to be disclosed and is not considered a material fact.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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