Agency
A listing agent in Ohio learns the seller has accepted a bankruptcy petition that affects their ability to transfer clear title. The agent should:
AConceal this from buyers to protect the listing
BDisclose this to prospective buyers as a material fact affecting title✓ Correct
COnly inform buyers after an offer is accepted
DList the property as title-guaranteed
Explanation
A pending bankruptcy is a material fact that affects the seller's ability to convey clear title and must be disclosed to prospective buyers.
Related Ohio Agency Questions
- Which of the following is a 'material fact' that an Ohio licensee must disclose to all parties?
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